> all apps that allow for account creation must also allow users to initiate deletion of their account from within the app

No, that doesn't seem true.

What bank lets you create an account just from the app?

… Okay, the digital-only ones, maybe. But virtually all other banks I've used make you go to a branch.

Revolut and many other apps allow creation of accounts from the app per local regulations. It may require SSN in the US to complete sign-up, but it's all done through the app and is immediate.

The account falls under all the regular retention and reporting requirements, although these companies mitigate some classes of issues with stricter limits, not paying any interest (even though that'd be miniscule), etc.

Any bank in America for the last 20 years. I opened my very first account at the branch cause I though they need to see me. Dozens of accounts at multiple financial institutions after that I never had to go to the branch. Most of my accounts held at places that don't have any branches within hundreds of miles.

In fact Wells Fargo is famous for opening account for you without you even thinking about it.

Meanwhile, my experience with 6 bank accounts is exactly the opposite.

I remember pre 2008 financial collapse when you could call a banker and they’d open an account for you sight unseen.

Now it’s only internet banks that do this. They still require lots of KYC documents to open an account.

I signed up for Schwab (and numerous other financial institutions that were not "banks" per se) without having to go to a branch in person. You usually just submit photos of documents and, in some cases, have your picture taken at your computer.

Congrats, now those docs are stored in a database. Good luck getting them deleted.

Yes, banks store your information in databases. Not sure what you’re driving at.

They certainly don't scan and save images of your identifying documents when you go into the branch. They may store your DL and SSN number. This is a lot less than you volunteering up your identifying documents to a public webserver.

Ah, yeah, that was the issue; I didn't have documents. I now remember that I could've signed up entirely online, had I had them.

Monzo.

Digital-only, but a "real" bank in every sense of the word.

I think most major brick and mortar banks allow you to open account fully online.

Try going to random bank websites and click on "open account".

The guidelines apply to creation of accounts within the app, not just anywhere online.

ANZ Bank, in Australia - and I'm assuming the others of the Big 4 do as well (CBA, NAB and Westpac, that is). It's been added to the App for some account types over the past year or so.

All major banks let you create an account without going in to a branch now.

I know at least two swiss banks.

Does that apply if you automatically create an "account"?

It doesn’t actually say the account must be deleted. It says:

“…must also allow users to INITIATE deletion of their account”

Capitals mine. So I can allow the initiation of deletion but never actually completely delete the account… and my app complies.

It can just go through a manual review and delete the parts that they're are legally required to delete. While I don't agree with a lot of the money laundering/terror financing laws banks shouldn't have to delete your data if you're trying to avoid taxes or whatever.

INITIATION is the important part, if they fail to delete the parts they're required to delete, F them: get them off the app store.

That last phrase (the punishment for violating record deletion laws) was a much softer ending to your post than I was expecting.

> If I can make an account easily, then I should be able to delete an account easily.

Sure, if you can open an account easily, then you should be able to delete an account easily. So if we make opening an account difficult, then it is fine that deleting one would also be difficult.

Sounds like an invitation to make opening an account at a bank or a bunch of other services much more difficult aka impossible from the app.