International money transfers require extensive identity verification and transaction monitoring. These services collect passport data, bank information, transaction patterns, and recipient details. Understanding how this sensitive financial data is stored, shared with governments, and used for profiling is critical.
Money transfer services are heavily regulated under anti-money laundering (AML) and know-your-customer (KYC) laws. This means extensive data collection is not optional - it's legally required. The key privacy differences are in how long data is retained beyond legal requirements, whether it's shared with third parties for non-compliance purposes, and how transparent providers are about their practices.
Most transparent privacy practices in the category. Clear data retention policies, limited third-party sharing, and good GDPR compliance. Still collects extensive KYC data as required by law.
Reasonable privacy practices but extensive marketing data collection. Shares data with advertising partners and uses transaction data for targeted marketing.
Cross-border data sharing to many jurisdictions due to wide coverage. Limited transparency on retention periods and third-party data sharing arrangements.
Inherits PayPal's extensive data collection practices. Broad data sharing across PayPal network, extensive profiling, and opaque data retention. Worst privacy in the category.