Open Banking

What permissions you need to give to a service provider, and when you need to give them, depends on the type of service you’re using. Whenever you need to give permission, the service provider will take you to our online banking services or mobile app to log in, review the request and then give permission.

For an AIS (Account Information Service), service providers should first help you understand the service and explain how they or anyone else will use your data. Then, you need to give permission for them to access your data, and give permission again each time you want to access sensitive data.

For a PIS (Payment Initiation Service), you need to give permission each time you want to make a payment. The service provider will only initiate the payment and will have limited access to your account.

For a CBPI (Card-Based Payment Instrument), you need to give permission once for the service provider to run funds checks on your account.

You can review and end your permissions at any time in the Open Banking connections dashboard of our online banking services and mobile app.

With your permission, service providers can provide Open Banking services through a mobile app or website. You can use them to do things like see all your account information in one place or pay for things online instead of using your debit or credit card.

These services are provided by companies you may recognise, such as high street banks, retailers and financial technology companies. Some companies have been providing these services for some time in the UK. You may see the services referred to as AIS (Account Information Services), PIS (Payment Initiation Services) or CBPI (Card-Based Payment Instruments).

If you have allowed third party provider (service providers) to make payments on your behalf and to access your financial data on your old account, there are a couple of things you’ll need to do to get this set up with us:

1. Before you close your old account, check whether you have any service provider permissions set up and if so, who with. Your old bank may be able to provide you with a list of the service providers you had permitted to access your old account.
2. Set up permissions for these service providers to access your account data on your new account once it’s open. You’ll need to set this up directly with the service providers.

If you had any standing orders set up on your old account via a service provider, we’ll make sure any of these payments which are due after the switch date will still be made. If we cannot match the payment frequency of an existing standing order, we’ll contact you to discuss your options.

An AIS (account information service) allows you to use your bank account information in ways that you may find more helpful. For example, you may be able to see information about all your accounts in one place, or get personalised tips on what do with your money or accounts.

To use an AIS, you’ll need to give permission for the service provider to access your account information.

A CBPI (card-based payment instrument) allows you to set up a card or e-wallet which is linked to your payment account. Each time you want to use a card or e-wallet, they’ll check whether you have the specific transaction amount in your account. This is called a funds check, and won’t affect your account balance.

To use a CBPI, you’ll need to give permission to the service provider to run funds checks on your account.

The FCA (Financial Conduct Authority) sets rules on how financial companies need to act, and how to be fair to consumers. It’s also in charge of verifying that financial companies are genuine and following their rules.

A PIS (payment initiation service) allows you to quickly make payments from your accounts, without needing to enter the recipient’s payment details.

To use a PIS, you’ll need to give permission each time you want to make a payment.

Service providers – also called third party providers (TPP) – are companies that offer Open Banking services to consumers. Services they might offer include:

• Linking your payment account to a service so you can transfer money easily
• Offering you an overview of several of your payment accounts in one place
• Offering you advice on what to do with your payment accounts.