Hi, I would like to find a bank or a privacy friendly payment method, not able to review every purchase I did.
I thought to several alternatives :
1° Find a bank explicitely dedicated to data privacy (names ?)
2° Open an account in a bank located in Switzerland as it’s the world strongest regulation for data privacy ? 3° Use a masked card or virtual number card ?
4° Find a data privacy friendly online payment platform (name ?)
5° Use crypto or cash lol ?
Any advise about these options ? Would you recommend other options ? Also I’m located in Europe if you know specific offers in the EU market related to that concern.
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Assuming you’re in north america, there is no privacy respecting traditional bank. Use cash or monero if you want to hide your transactions
I am not well versed in crypto but when I tried to setup an account at many coin exchanges they wanted my govt id to track transactions due to Canada’s KYC laws. Is there a way around this ?
Monero
Exactly. Monero, cash and precious metals are the only private payment methods, but Monero is the only one that works over the internet.
Currently the only 100% option.
If/when privacy.com ever expands beyond the USA that’ll be a significant improvement.
EU has regulatory requirements that banks need to satisfy if they want to operate there. Look into KYC requirements and what data they need to store about money transfers if you want to know what data banks absolutely have to collect.
Ok, so why is cash not a good idea?
Cash, monero, prepaid visa cards.
monero. shielded zcash is also an option.
What is the scenario you are thinking of specifically?
All banks and bank-like institutions you might have access to will comply with the same anti money-laundering and know-your-customer regulations. It’s not really up to the individual bank to decide.
The “Swiss bank account” is largely a thing of the past, as they are forced into data-sharing agreements with the United States and possibly others. And even so, you need to be a Swiss national to qualify for a bank account there.
You can use cash as much as possible when it’s an option, of course. It’s less convenient, but privacy often is.
Noob question: do you think that banks sell info regarding your/our transactions to third party?
Many do, or at least did a few years ago.
do you have more info (articles) related to that? Just curios
What’s the drama over using crypto? (Not about OP specifically). I can donate crypto to Lemmy because they don’t see a drama, but other apps want my credit details. Honestly, I would rather take the crypto option than trust every business with my credit details.
