Private bank in the UK

Wass1947

Hello all,

I wanted to change my bank to a bank that does not sell my data (currently using Monzo) and I came across privacy.com, which seems to be perfect, the only problem is that you need to be a US resident to use it.

Does anyone know a private bank in the UK that does not sell my data? every time I search for a private bank I end up finding the privacy policy of banks like starling, lloyds etc... but not an actual bank that protects our privacy

Thank you guys !!!!

Dumdum

Wass1947 a private bank

No such thing exists. Its simply not possible. Also Privacy.com doesn't "stop your data from being sold". It simply acts as an intermediary for your purchases, much like a VPN does for your internet connection.

From this page:

These services are primarily useful for protecting you from merchant data breaches, less sophisticated tracking or purchase correlation by marketing agencies, and online data theft; and not for making a purchase completely anonymously.

and

Privacy.com gives information about the merchants you purchase from to your bank by default. Their paid "discreet merchants" feature hides merchant information from your bank, so your bank only sees that a purchase was made with Privacy.com but not where that money was spent, however that is not foolproof, and of course Privacy.com still has knowledge about the merchants you are spending money with.

Dumdum

If you wish to make private purchases, there's only one thing that can fulfill that purpose.

jacobb

I would say there is only this option.

Dumdum

jacobb
To an extent. There's 2 types of purchases: local/in-person and non-local/remote. Cash in a local purchase would reduce knowledge of your purchase down to just the person you're transacting with. Just have to hope that person respects your privacy or someone you want to avoid**. Cash in a remote purchase (e.g. Mullvad subscription) would prevent a face-to-face interaction, making the purchase more private, but:

opportunities to pay in cash remotely like this (understandably) aren't exactly common (and crypto isn't really either, but is probably more likely to be adopted in future than cash would)
There's the obvious risk of your cash being stolen or lost/damaged during travel. If you're fortunate enough to not have anything happen, then great. You have a pretty private purchase.

I'm not any kind of crypto expert (infact not a fan of/don't care about crypto in general), but I imagine crypto would manage to be both more private and more reliable in making purchases, particularly for remote purchases.

** If someone has wisdom they can provide as to how local cash purchases can be made in a private way (without arranging some secret agent drop-off thing), then please correct me.

Wass1947

Also Privacy.com doesn't "stop your data from being sold". It simply acts as an intermediary for your purchases,

that is very disapointing, maybe I should just get used to use more and more cash then.

I would like to say this to both of you :)

Viewpoint0232

There isn't any service like Privacy.com in the UK, and there isn't any privacy-respecting bank. There's probably thousands of AML/KYC requirements making it illegal in the first place.

Your only options of private payments and private wealth are Cash in the real world and Monero in the online world. The latter only has limited acceptance as the governments and tax authorities of the world understandably don't like it and the former is also slowly going out of fashion.

Wass1947

Viewpoint0232 thank you for your advice.

I will spend some time understanding monero, it might be a good thing to know how to use these currencies in future, we never know.

this is so desapointing, I also spent some time checking the privacy policy of banks in the UK and they all say "we might share your data" bla bla bla... they all say that, but then they dont specify which data, although I understand that they have to comply with law enforcement, I dont agree that my spending habits are being "sold"to third parties who then resell them or use them. I use Monzo currently (few years now, I think it is time to remove it as I suspect they sell a lot of data", if you have a bank to suggest that is reasonable to use (not making a business out of personal data) I would be happy to hear, if not, thanks anyway for your advice :)