I paid them 500 EUR to open an account and the denied me to open an iban. I asked them why and they told me that it is their internal decision. I asked them to provide a full answer regarding my EU rights but they prefer not to answer me anymore.
They don't technically have a license.no one stlll answer my question can some one fiend their license , because i cannot, may be i am retarded
Right of Access - General Data Protection Regulation (GDPR)
The right of access plays a central role in the General Data Protection Regulation (GDPR). On the one hand, because only the right of access allows the data subject to exercise further rights (such as rectification and erasure). On the other hand, because an omitted or incomplete disclosure is...gdpr-info.euHow to Make a GDPR Request for Information - PrivacyEngine Data Protection Software and Consultancy
This right enables individuals to understand how their data is being used and to verify the lawfulness of the processing.www.privacyengine.io
It is very strange, because after they they opened me foxpay account with the same iban. Where is the logic?
However, how can one tell if the bank isnt simply charging to reject? after all, lets say they charge 100 bucks to open the account only to reject 95-100% of the applicants, and maybe pay someone to post around that they succeeded and are super happy. After all, these EMI would probably take a long time to earn 100 bucks, and this would seem a pretty easy way to just get some money in with no actual work required..GDPR does not supersede AML regulations. Courts and regulators have been clear about this. If you were rejected for reasons related to AML and customer screening, you have no legal right to know why.
The rationale for that is that if banks have to start telling people why they were declined, they can use that information to reverse engineer how banks' compliance frameworks function, and use that to their advantage to get around the checks.
You can't.However, how can one tell if the bank isnt simply charging to reject?
The risk is there. Although the regulator will find is strange that they have such a low approval rate. Financial institutions with unusually high or unusually low approval rates will be questioned about the customer acquisition and customer onboarding/screening methods.after all, lets say they charge 100 bucks to open the account only to reject 95-100% of the applicants, and maybe pay someone to post around that they succeeded and are super happy. After all, these EMI would probably take a long time to earn 100 bucks, and this would seem a pretty easy way to just get some money in with no actual work required..
You may contact them [email protected] and ask them, if they answer you, you could post their answer hereno one stlll answer my question can some one fiend their license , because i cannot, may be i am retarded