We’d like to let you know about some updates we’re making to our privacy policy and cookies policy. The updates will go live on the 12th November 2019. If you have any questions, please don’t hesitate to reach out to our support team through the in-app chat.
We’re updating our privacy policy to include information about how your personal data is shared with:
(i) credit bureaus, to help us better assess your financial circumstances (to opt out of sharing this data, please reach out to our support team via the in-app chat); and
(ii) social media and analytics companies, for marketing purposes (to opt out of sharing this data, please use the toggle under ‘Privacy’ in your dashboard settings). Make sure you update your Revolut app to version 6.15 through the App Store to be able to use the toggle.
Guys, this is not cool. You know full well that people mostly don’t read these emails. But even if they did, why did you make it harder to opt out of I) than out of II)? Why don’t they both have a toggle?
Now the important bit: even if you had emphasized the change more and made opting out easier, it would still be wrong to auto opt in people into sharing their information with third parties.
I see this as a sleight of hand from you. It’s disappointing. It means one can’t relax knowing you have our best interests in mind, but has to be careful and vigilant constantly or you’ll expose our information to who knows whom. Trust is all you have in this relationship, and you’re damaging it with moves like this.
Some agencies looking how you use your credit limit and how you pay back those credit (on time, with delay, payment failure). They give you a score, and based on that score they know if you can get higher credit limit or be safe for a mortgage.
Actually, in europe, it’s much worse:
credit agencys ESTIMATE your credit-worthiness, by analysing (in an intransparent way, different for each agency) where you live, if you’re male/female/whatever, and many more points. Having a morgage or credit or debts doesn’t realy affect the numbers, as these things aren’t reported to them (some countries have official registers, but the agencys don’t compare their data with them).
In Europe, credit agencys are a severe source for anger. Because they are known to f…k things up, giving people wrong scores, imagine debts the person doesn’t have, causing all kind of shi…t
Eg. in Switzerland: Intrum Justizia. Having the same Name as a guy who’s in debt, and you get visitors at your door who only leave when they got the money. CRIF, reporting repeatedly false informations as they don’t react to “ammend-requests” (you can’t delete your scores, only fix them, IF they do so); the official swiss register is mostly unknown for these two agencys.
In Germany, there’s the Schufa (a semi-official agency); also known for making severe mistakes in calculating scores (for me (I order oftern in germany), they invented 6 (six!) morgages on a house that doesn’t exist. (!!!). Took me almost a year to fix that shice!)
…and now imagine Revolut asking these amateurs for “is this guy trustworthy so we can give this 2year-customer of ours a new card” or something. WITHOUT ME KNOWING WHO THEY’RE ASKING, or fixing any wrong information they’ve received…
Hi,
This is quite worrisome.
According to GDPR all clients have to be informed about the purpose of data collection. And the rules are much stricter let alone for the sharing the data with third parties. It cannot be done without direct consent given by the clients. So automatically opting-in everyone will definitely create problems for Revolut. I wonder why their legal services let this thing happen…
Just got this in the support chat, Rita the Support bot:
It seems like you have contacted us to opt-out from sharing your personal data with credit bureaus due to the recent update in the Privacy Policy.
We will proceed with opting out within the next 24h.
If you do not want us to do so, simply respond to this message.
In the meantime, if you wish to opt out from sharing your data for the marketing purposes you can use the toggle under ‘Privacy’ in your dashboard settings.
This chat will be automatically closed, but if you’d like to get some help regarding any other topic - simply reply to this message.
Thank you!
So it seems it’s automated but still need to request it
Regarding the opt out for targeted marketing: how is the English wording of this? In German, the title is somewhat in contradiction with the description:
Title: targeted marketing
Text start: objection to use the data…
So what is the correct setting? From the title I would put it to off as I don’t want this. From the text it suggests to enable it as I object the use of my data for direct marketing.
According to what Rita the bot says, just one, the sharing with credit bureaus.
The other I have to do myself with in-app settings. Whether that will work and if I will need to talk to a support agent to get it done is a different story.