What about 'neo banks'? I am with Revolut free tier and I know why they have a free tier/basic tier, because I know they monetize my bank statements and purchase habits for 'market research' and other insights.
Revolut is a EU bank and has the same regulations, AML, KYC rules as other banks. There are tons of stories about closed accounts by revolute.
It is even worse than "regular" bank because you can't go to the branch or call the support number. You can get help via chatbot from the application and I doubt you can use it without active account.
