Revolut vs Venmo

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.

Disputes must generally be resolved through individual binding arbitration or small claims court, which limits class actions and makes collective legal action unavailable. This can significantly reduce practical leverage for users with disputes.

Venmo can review transactions, place holds, and restrict access to funds when it sees risk or needs identity verification. In some cases, access to funds can be limited for as long as 180 days.

By linking a payment method, you authorize Venmo to charge it not only for payments, but also for errors, claims, disputes, and amounts you owe. Revocation is limited to unlinking, and prior authorizations can still be charged.

Venmo keeps personal information for as long as needed, and for ongoing relationships it uses a default of relationship plus 10 years. That is a long post-relationship retention window.

The California notice says Venmo does not sell or share personal information, including sensitive personal information, for cross-context behavioral advertising. That is a meaningful privacy protection relative to many consumer apps.

Venmo uses cookies and tracking technologies for recognition, analytics, risk, and advertising-related measurement. It also says it does not respond to Do Not Track signals.

Some personal information may be public and visible to anyone, and your friends list may be visible to other logged-in users. Users should review privacy settings carefully before sharing activity.

Venmo collects data from many sources, including service providers, merchants, credit bureaus, government entities, data brokers, analytics providers, and financial institutions. That means your profile can be built from more than just what you directly provide.

Venmo says you can review and update your personal information in account settings and can view account statements online. That gives users basic transparency and monitoring tools.

You can close your account without paying a termination fee. You still need to settle pending activity and withdraw funds first, but the closure itself is not charged.