No, this is not true.
Companies need to be up front with you about what data they keep, and why, and they have to comply with the regs - but nowhere does it say your data has to be kept in the EU.
Companies need to be up front with you about what data they keep, and why, and they have to comply with the regs - but nowhere does it say your data has to be kept in the EU.
I'm curious as to where you have got the belief that your data must be stored in the EU. Perhaps you could point towards where in the GDPR you got this from?