How Open Banking works

Your financial information belongs to you, and Open Banking is designed to put you in control of it.

It will always be up to you if you want to make a payment or share data with an Open Banking service. That means you don’t need to opt in or out. You choose which services you want to share data with, and nothing is shared with services you haven’t signed up for.

You don’t need to give anyone your sign-in details to use Open Banking – you’ll only share the account information you choose to. There are also some kinds of service which need your sign-in details to share data which isn’t covered by Open Banking.

Protecting your data as well as your money

Security is a priority for us, and we’ve made it just as safe to use Open Banking as the other ways you bank with us.

  • Only you can choose to share your data or make a payment.
  • You can stop sharing data at any time in Online Banking.
  • Your payments are protected in exactly the same way as when you use Online Banking.

You should still be just as careful as with any other online service. Read the details of everything you sign up for, and make sure you understand exactly what data you’re sharing and how it will be used. Check your statements regularly and contact us if you’re unsure about anything you see on them.

What to expect

Whenever you share data or make a payment, you’ll be transferred to our secure website and we’ll ask for your Online Banking sign-in details. This is so we can make sure it’s really you, and your sign-in details will never be shared.

Once you’ve set everything up, data and payment details are transferred between us and the other website/app using a protected connection. If you want to stop sharing anything, you can cancel it through Online Banking.

Services asking for your sign-in details

When a service asks for you sign-in details, this is usually so they can use types of data which aren’t covered by Open Banking, or to work with banks which aren’t part of it yet.

Before giving your sign-in details, you should make sure you understand the service which the company is providing and that it has been authorised by the FCA.

For more information, read the FCA guidance on this kind of service.