Go Beyond

Only read if you don't mind being offended.


What Does (Insert Your Bank's Name Here) Do With Your Personal Information?

While packing for my move to Idaho I came across a sheet of paper titled: "What does Chase do with your personal information?"

I was a little bit shocked by what I read. And doing more research, Chase's practices are completely mainstream.

In short, many banks will sell your transaction history data without you knowing about it. I assumed that was private, although I'm not sure why I did. I figured a bank making money off of my own money and getting service fees would be enough, but no. They also sell your information (as you'd expect from a free services like Google or Facebook).

Some of these things can be limited but most cannot. Just search for "What does (your bank's name) do with your personal information" and you'll get PDFs from the banks themselves explaining exactly what.

Here's what I pulled up.

For comparison, here's a credit union.

If you're in the US and have a bank account that sells your information, I encourage you to limit your privacy settings at a minimum. Even that is quite minor and they still share the gist of it. More troubling is that some of the banks, Bank of America at a minimum, will continue sharing your data even after closing your account unless you tell them otherwise.

I'm going to pursue closing my bank accounts and most likely will open an account with a credit union in Idaho. Of course I loathe all fiat banking but sadly it is rather hard to avoid.