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What is Open Banking?

Open Banking is a mandatory change introduced by The Competition & Market Authority (CMA).

It is a secure way for you to share your information with Third Party Providers, as well as offering alternative payment methods. It will make it easier for companies to offer different and innovative services, while giving you more choice and more control over your money and financial information.

This will be achieved by banks and building societies making certain information accessible to other approved companies in a standardised, straightforward and secure way and only ever with your explicit consent. All companies will be approved by the Financial Conduct Authority.

Do I need to share my information/data/details?

No, the use of Open Banking is entirely down to you. You're in complete control; if you want to use Open Banking, you will be asked to provide explicit consent to a company accessing your data, choosing how long and what they can do with this data. These companies will only be able to access account information once you have provided your consent to them. If you decide not to take part in Open Banking and take no action, nothing will change.

When we receive a request from a third party, we will check our records to ensure we have a valid consent from you before sending data to them.

If you do opt to use the services of a Third Party Provider, it’s very important for you to read the Terms and Conditions of the service to understand exactly what information they’ll be accessing and how they’ll use that data.

Is sharing my information using Open Banking safe?

Yes - Everyone involved in Open Banking must comply with Data Protection Laws and will need to be approved by the Financial Conduct Authority.

Third parties are not permitted to take any action on any account without the explicit consent of the account holder. This is a binding legal requirement placed on authorised third parties. Your information is protected and encrypted to the same level of security as the Bank’s Online Banking.

Is sharing my information using Open Banking secure?

Yes, Open Banking has created software and security systems that give you the option to share your

Account information securely. Your data is encrypted and its usage is tracked; only companies regulated by the Financial Conduct Authority or other competent authorities can use it if you have provided your consent to them.

Who are the Third Party Providers?

A Third Party Provider could be any company who wants to offer you a service, and therefore needs your transaction history to do so. Third Party Providers are approved by the Financial Conduct Authority (FCA) before they can take part in Open Banking. All approved Third Parties will appear on the FCA Open Banking Directory.

We don't know which companies will apply to become an authorised third party provider, but these could be other big high street banks, newer smaller banks, or other companies that aren't banks but provide similar services e.g. credit reference agencies, and comparison websites. Major retailers are also on the current list, including Argos, John Lewis and Amazon.

How do I give my consent to third parties in Open Banking?

Once you’ve decided to use a third party, you'll be asked to give explicit consent to share your information with them. You'll give your consent on the third party's website; once given you will be redirected to your Online Banking or Mobile App login page, where you’ll enter your login details directly. Only once authorised by you, and the Bank has checked the third party is authorised by the FCA, will we share your data securely. We'll store your consent and check it every time the third party requests access to your account. You'll be able to check your consents via your Online Banking or Mobile App.

How do I sign up for Open Banking?

To use Open Banking you must be registered with Online Banking. To sign up for Open Banking you’ll need to give initial consent via a third parties site. You’ll need to provide separate consents for every third party you use. These consents will expire after 90 days so you’ll need to renew these, if you wish consents to continue beyond this time.

I only have a credit card, can I still use Open Banking?

Yes, you can choose to share your credit card information; however you must be registered for Online Banking to do this.

I don’t want to use Open Banking.

That’s fine; you do not need to do anything. Without your explicit consent, third parties will not be able to access any of your account information. 

How do I stop sharing my information in Open Banking?

To stop sharing your information, you will be required to withdraw your consent for each third party you want to stop sharing your information with.

You can withdraw your consent either by going to the third parties website and revoking consent there, or by accessing your consent preferences via Online Banking or mobile banking app and revoking each consent.

How do I access my consent preferences in Online Banking?

Sign into your Online Banking as you would normally and select the Security tab from the menu on the left hand side. In the security page, in the first box (Change login and access details), click on the text “find out how to view or change your consent preferences”. You’ll then be taken to the sign on page where you will be prompted to enter your customer number, allowing you to access your consents.

Within the consent portal you be able to see all third parties with a consent, clicking on each one will allow you to view more details and cancel consent if desired.

How do I access my consent preferences in my mobile app?

Sign into your mobile app as you would normally. To manage your open banking consents on mobile banking, first tap on the profile icon Next tap on "Settings" followed by, "Manage permissions"... then enter your customer number as prompted You will then be able to see all third parties with a consent, clicking on each one will allow you to view more details and cancel consent if desired

I can’t access my consent preferences as I’ve forgot my Customer Number, what do I do?

If you’ve forgotten your Customer Number, you can go back to your Online Banking account summary page where the details are held. The last four digits are displayed and your date of birth (ddmmyy) is masked. Alternatively if you are in the mobile app, then, it's in the 'More' tab, tap 'Need Help' and then 'My customer number'.

How do I revoke a consent I have given to a Third party in Open Banking?

You can revoke your consent either by going to the third party’s website and revoking consent there, or by accessing consent preferences via your online or mobile banking app and revoking each consent.

Is there a limit to the amount that can be made in a payment using Open Banking?

There is a £20,000 payment limit through Open Banking. If the payment is to a new payee you will require your card reader to authorise the payment.

Who do I contact if I suspect Fraud?

If you suspect Fraud, please contact us on 0800 051 9010 (Overseas +44 126 850822)

How do I make a complaint?

We are sorry you feel the need to complain. You can tell us what went wrong in the following ways: