Revolut vs Binance

Revolut collects broad categories of personal data including IDs, financial details, device data, location, contacts, biometrics, behavioral signals, and inferred profiles. This creates a detailed picture of your finances and app use.

Revolut may use automated systems, including AI, to open accounts, detect fraud, and lock, restrict, or close accounts. In practice, users may face sudden service interruptions pending review.

Revolut expressly says it will not sell your personal data. That is a meaningful privacy commitment compared with many consumer platforms.

Users can access, correct, delete, restrict, object, withdraw consent, and request transfer of certain data. Practical controls are available in-app or by email.

Personal data may be kept for long periods after the relationship ends, and some fraud-related records may be retained even longer. Deletion requests may therefore only be partially honored.

Revolut shares data within its group and with service providers, payment networks, credit agencies, partners, authorities, and payment counterparties. Some recipients of your payments will receive identifying details like your name and IBAN.

If you enter the wrong account details or pay the wrong person, Revolut generally is not responsible and only says it will try to help recover funds. Users bear much of the risk of payment mistakes.

If an automated decision significantly affects you, you can ask for manual review and challenge the result. This matters because account opening, fraud checks, restrictions, closures, and credit decisions may be automated.

If you cannot resolve a complaint with Revolut, you may escalate to the Financial Ombudsman Service. This gives users an external dispute option beyond dealing only with the company.

You can download your payment and account information from the app while your account is active. That supports record-keeping and practical portability.

The terms say English law applies and court claims must be brought in England and Wales. That may make court action less convenient for some users, though it does not waive the right to complain to the Ombudsman.

Customer money is held as safeguarded e-money in segregated accounts or low-risk assets, which offers insolvency protection mechanics. But it is not covered by the UK Financial Services Compensation Scheme.

Binance can amend its terms, fees, and eligibility criteria by posting updates, and continued use counts as acceptance. That means key rules can change without your explicit consent, so you need to monitor notices closely.

Binance can suspend, restrict, or close accounts for a broad set of reasons, including compliance concerns, missing information, security issues, or suspicious activity. In practice, access to funds or services may be interrupted while issues are reviewed.

You are responsible for all activity on your account and sub-accounts, including unauthorized use unless you promptly report a security breach. This raises the stakes for account security and fast reporting if anything goes wrong.

Binance says it generally provides execution-only services and does not give investment advice or personal recommendations. Users must judge suitability themselves and bear trading, leverage, and market-loss risks.

Binance collects identity, financial, wallet, transaction, communications, cookie, and sometimes biometric or sensitive data, and it conducts ongoing AML/sanctions monitoring. Users may be asked for extra information at any time, and accounts can be restricted if they do not comply.

The privacy notice says you can request access, correction, deletion in some cases, objection/restriction, portability, and consent withdrawal. Those are meaningful user rights if you want to inspect, move, or reduce your data footprint.

Binance authorizes itself to deduct fees, interest, charges, and other amounts from your account assets, and can convert other assets if the exact asset is unavailable. That can reduce balances automatically and at Binance’s chosen rate.

The privacy notice allows sharing with affiliates, service providers, independent controllers, authorities, and in business transfers. This means personal data can flow widely across the Binance ecosystem and outside it for operational and legal purposes.

Binance retains personal data as long as needed for services, legal obligations, disputes, tax/accounting, and AML compliance. There is no short, fixed deletion window, so records may remain for a lengthy period.

Binance says marketing data is shared with marketing partners only with explicit consent for contact-based marketing, and you can opt out or object to direct marketing. That gives users some control over promotional outreach.

The privacy notice provides a Data Protection Officer contact and local data protection authority complaint routes. This makes it easier to raise privacy concerns or escalate unresolved issues.