Open Banking has been designed with security at its heart – here’s how:
- Bank-level security – Open Banking uses rigorously tested software and security systems. You’ll never be asked to give access to your bank login details or password to anyone other than your own bank or building society.
- It’s regulated – only apps and websites regulated by the FCA or European equivalent can use Open Banking.
- You’re in charge – you choose when, and for how long, you give access to your data.
- Extra protection – your bank or building society will pay your money back if fraudulent payments are made. You’re also protected by data protection laws and the Financial Ombudsman Service