Privacy Policy

The Short Version

We know you probably won't read this entire page. Fair enough. Here's what matters:

Your data stays yours. We access your bank transactions through Open Banking to find fees. That's it. We don't sell this data, we don't share it with advertisers, and we don't use it to market other products to you.

We can't touch your money. Open Banking gives us read-only access. We literally cannot move funds or make changes to your accounts.

You can delete everything. Want out? Email us and we'll wipe your data. No questions, no retention period tricks.

Last Updated: January 27, 2026

This policy covers how Banknaked collects, uses, and protects your personal information when you use our website and services. By using Banknaked, you're agreeing to these terms. If something here doesn't sit right with you, please don't use our service.

1. What We Collect

When you sign up, we ask for your email address and you create a password. That's the minimum we need to give you an account.

When you connect a bank, we receive transaction data through Open Banking APIs. This includes your account balances, transaction history, and account identifiers. We need this to scan for fees. Your bank handles the authentication directly, so we never see your banking password.

When you use the site, we collect standard technical information: your IP address, browser type, which pages you visit, and how you interact with the app. We use privacy-focused analytics (Simple Analytics) that doesn't track you across the web or build advertising profiles.

When you contact us, we keep records of our conversations so we can actually help you if you write back.

2. What We Do With It

The primary purpose is straightforward: we analyze your transactions to identify fees your bank is charging you. We show you what we find, suggest alternatives, and help you understand your true banking costs.

Beyond that, we use your information to run the service (sending password reset emails, for example), to fix bugs when something breaks, and to make the product better over time. We might send you occasional emails about new features or important changes, but we're not going to spam you.

We also use aggregated, anonymized data to understand trends. Things like "users in Spain pay an average of X euros in hidden fees" help us improve the service for everyone. This data can never be traced back to you individually.

3. Who Sees Your Data

We do not sell your personal information. Not to data brokers, not to banks, not to anyone. This is a hard rule.

A few third parties help us run the service. Our servers are hosted on infrastructure providers who have access to encrypted data but not the keys to read it. Our payment processor handles billing. These providers are bound by contracts that limit what they can do with any data they touch.

If a court order or law enforcement request compels us to share information, we would have to comply. We'd tell you about it unless legally prohibited from doing so.

One thing we want to be crystal clear about: we never have access to your banking login credentials. The Open Banking system is designed so that you authenticate directly with your bank, and they send us only the transaction data. We couldn't steal your password even if we wanted to.

4. How We Protect It

All data transmitted between your browser and our servers uses TLS encryption. Data at rest is encrypted using AES-256. We run regular security audits and our team follows strict access controls, meaning most employees can't access individual user data at all.

That said, no system is perfectly secure. We do our best, but we can't promise that a breach is impossible. If one ever happens, we'll notify affected users promptly and be transparent about what occurred.

5. Your Rights

Under GDPR and similar regulations, you have rights over your personal data. You can ask us for a copy of everything we have on you. You can ask us to correct anything that's wrong. You can ask us to delete it all. You can ask us to stop processing it. You can ask for it in a portable format so you can take it elsewhere.

To exercise any of these rights, email privacy@banknaked.com. We'll respond within 30 days, usually much faster.

6. Age Requirement

Banknaked is for adults. You must be at least 18 years old to use our service. We don't knowingly collect data from minors. If you're a parent and think your child has signed up, contact us and we'll delete the account.

7. Policy Updates

We may update this policy as our service evolves or as laws change. When we do, we'll update the date at the top and post the new version here. For significant changes, we'll send you an email. We won't suddenly start selling your data and bury that in a policy update.