Since 13th January 2018, banks have had to make it possible for customers to share their financial details with FCA-approved third parties if they want to – this is known as Open Banking. It offers you a secure way for you to share your details, giving you more choice and control over your money.
When we say approved third parties, we mean apps and services that help you manage your money – like viewing all of your accounts in one place, setting spending limits and keeping an eye on your savings progress, for example. They have to be authorised by the Financial Conduct Authority (or another European regulator).
First you’ll need to register to use our Online Banking. Then, decide which third party you want to use (if any) and sign up with them. They’ll ask for your login details so they can access your information.
Using these services is completely your choice. We’ll never share your data without your consent. If you take no action, nothing will change.
Companies that use your details are held to data protection laws. If you choose to use a third party, it’s very important to read their terms and conditions to understand exactly what details they’ll be accessing and how they’ll use them. Please note by providing your login details, third parties will have access to all of your online accounts.
We won’t give just any third party access to your account – they will need to have your online banking details and we’ll check they are authorised by the FCA. Please remember, it’s really important that you’ve checked they’re authorised too, before you share your details with them.
You can view the full list on the Open Banking directory.
Payments made by third parties on your behalf are protected in the same way as online banking transactions, but you should still be careful, as on your account statement they will look like they were sent by you. Before giving out your login details, make sure you understand what services the third party is offering. If you suspect fraud, please get in touch with us. You can also find more information here.
You will need to contact each third party individually to let them know, and then change your online banking password or 12-digit customer number.
Of course – but if you do use these, you need to make sure that only yours are saved on your device. This is so no one else can access your accounts. If you want to keep multiple IDs stored, you’ll need to turn off this function for our app and use your passcode to log in.
Take a look through the info we gave you when you opened your account – all your details should be there. If you have any issues, give us a call on 0345 0808 500, and we’ll get you back up and running.
To use third party services, we will send you a one-time passcode by text to make sure it’s you. We may do this at other times too, to check your account is safe and secure.