Frequently asked questions

Open Banking works through secure Application Programming Interfaces (APIs), similar to the technology used by online banking apps. Through APIs, Open Banking lets you securely share read-only financial data, like transaction history or balance information, without needing to manually provide login details.

Open Banking prioritises security. You won’t be asked to share your bank login details. Instead, you authenticate access through your bank’s secure channels, such as PIN, fingerprint or face ID, or card-reader verification. Each provider requests your consent, and your bank securely shares the agreed information."

For more information on Open Banking you can read this Money Saving Expert Guide.