cross-posted from: https://fedia.io/m/privacy/t/312963
There’s a huge chain of ATMs in Netherlands called Geldmaat which is a partnership of Ing, Rabobank, ABN AMRO, possibly others.
So I have several questions w.r.t privacy:
when you draw money out, do all those banks have access to the transaction?
if you use a Rabobank card, does Ing see the transaction?
if you use a foreign card that is not associated to any of the partnered banks, which bank handles the transaction?
This trend is picking up in other countries as well and it seems no articles that announce these changes are talking about the #privacy consequences.
Geldmaat is an independent entity that is bound by financial privacy and GDPR, so they are not going to share data with their parent companies unless relevant to the transaction or necessary for regulatory compliance.
That said, they are sitting on a huge amount of aggregate transaction data they they are undoubtedly monetizing right now.