What is Open Banking?

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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 Service 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 permission. All companies will be approved by the Financial Conduct Authority.

Who are the Service Providers?

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

We don't know which companies will apply to become an authorised service 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 connect to Service Providers in Open Banking?

Once you’ve decided to use a Service Provider, you'll be asked to give permission to share your information with them. You'll give your permission on the Service Provider'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 Service Provider is authorised by the FCA, will we share your data securely. We'll store your permission and check it every time the Service Provider requests a connection to your account. You'll be able to check your connections 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 permission via a Service Providers site. You’ll need to provide separate permissions for every Service Provider you use.

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 permission, Service Providers will not be able to connect to any of your account information.

How do I view my connections preferences in Online Banking?

Sign into your Online Banking as you would normally and select the Security tab from the main menu. 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 connections site you be able to see all Service Providers with a connection to you, clicking on each one will allow you to view more details and cancel connection if desired.

How do I view my connections preferences in my mobile app?

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

I can’t view my connections 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 remove a connection I have with a Service Provider in Open Banking?

You can remove your connection either by going to the Service Provider's website and removing the connection there, or by viewing your connections preferences via your online or mobile banking app and removing each connection.

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 0345 307 0009 (Overseas +44 131 339 7609)

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:

Why do I keep getting sent back to the Service Provider?

In this instance, there may be a number of reasons why your request to aggregate your accounts or make a payment with a Service Provider may have not completed and the page keeps being redirected to the Service Provider. This may be due to an issue with the Service Provider or the connection between the bank and the Service Provider.

We would recommend that you log in to Online Banking before attempting to connect with the Service Provider to ensure that the details being entered are correct and to prevent locking yourself out of the account.

Should you still need help logging in to Online Banking please look at Need help accessing Online Banking

Why do I need a one time passcode?

For extra security, we may ask you for a one time passcode to make sure it’s you logging into Online Banking, via Open Banking. This mirrors the introduction of One Time Passcodes being required for Online Banking earlier this year.

If we have your mobile number, you'll get a text with a one time passcode. If you don't, but have a card reader you can also use this, but we recommend you update your mobile number so you don't need your card reader and card to access Online Banking.

If the number we have for you isn't correct, please see How do I update my email address or mobile number? on how to update it.

Lost your card reader? You can order a new one in Online Banking, and it will arrive in 5-7 working days.

What is Strong Customer Authentication (SCA)?

Strong Customer Authentication (SCA) is part of the Payment Services Directive 2. It is made up several different initiatives to ensure that we continue to keep you safe and secure when you are using Online Banking, the mobile app, making online debit and credit card payments and using Contactless.

One of these initiatives is the widespread use of two-factor authentication. These factors must be a combination of the following:

something you own (possession)
something you are (inherence)
something you know (knowledge)

So, for example, when you log onto Online Banking, we could ask you for your password (knowledge) and either to use your card reader (possession) or receive an OTP to your mobile phone (possession)

What is biometric approval in Open Banking?

Biometric approval lets you prove it's really you when you want to:

Authenticate open banking app to app and web to app transactions
Use an alternative to card readers when using Open Banking

How do I use biometric approval to authenticate transactions in open banking?

When we ask you to use your biometrics to approve something, we're checking that it's really you. Depending on the biometric option you have registered for, you will be asked to confirm it's you using your face or voice on the mobile app. We then compare the sample you provide to the one that we have stored on our servers. If it's a match, you can then carry on and finish what you were doing.

I am in Online Banking why can't I use the camera on my laptop to authenticate transactions?

If you use biometric approval, we may ask you to authenticate Online Banking transactions using your face or voice on the mobile app so we can make sure it's you. We use the mobile app because it allows us to capture your face or voice better than a computer can.

What is Sweeping & VRP (variable recurring payment)?

Please see What is Sweeping & VRP (variable recurring payment)?

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