I live in Canada. I use Tangerine (formerly ING Direct). Tangerine is the "direct banking" division of Scotiabank. The upside of using Tangerine is that it charges no monthly fees. The downside is that it has no branches or tellers: it only has ATMs, an online-banking website, and a customer-service hotline.
Today I logged into their Android smartphone app for the first time ever. (I'm using version 1.0.11 of the app.) After I entered my username and PIN number, the app (not the operating system) asked me for some sort of consent to note my location in order to help them combat fraud. The app stressed that this consent was optional, and that even if I withheld consent, I could still bank with them as usual. I don't remember exactly what consent it asked for. But I clicked the "agree" button.
I later looked on Tangerine's website to try to find out exactly what I agreed to, but couldn't find any information.
So I tapped the three dots, tapped "More", tapped "Read-Only Settings", and then withdrew my consent. (I guess the "Read-Only Settings" aren't actually always read-only. Another interesting fact: Once you've withdrawn your consent, it looks like it's impossible to restore this consent.)
I no longer remember exactly what I had consented to.
Kelly Pike, writing on the Independent Community Bankers of America website, adds:
Location capture, based on usage of a mobile app or other identifiers, is becoming increasingly used by large financial institutions, giving them the ability to tell if a customer is in the same place as his or her credit or debit card.
What, exactly, did Tangerine ask me to agree to, and why? Was it indeed the same thing that Ms. Pike mentioned?
If you have a bank account with Tangerine, and you've never logged into their Android app before, could you please log in and take a photo or screenshot of the question for us?