What you can do with Open Banking

We’re starting small – for now, we’ve made changes to our systems to allow you to safely share your current account data and allow third parties to request single payments from your current account. You can share data with any third party listed as an approved Open Banking provider on the Open Banking Directory.

Sharing your data

Open Banking Sharing

When you authorise a third party to access your account data, you can choose what data they see and whether they view it as a one-off, or continually for up to 90 days. You can stop a 90-day share at any time.

Current account data
You can share any or all, of these types of data:

  • Information about your current account product – for example, if there’s a monthly fee.
  • Details of your direct debits and standing orders – who you pay that way, and how much.
  • Your account balance and day-to-day transactions.
  • The interest you’re earning or paying, as well as any charges.

Credit card data
You can share any or all, of these types of data:

  • Information about your credit card product – for example, an interest free offer.
  • Your current balance, how much you’ve paid off and the purchases you’ve made.
  • Your card limit and whether it’s gone up or down.
  • How much interest you’re paying, as well as any charges.

Making payments

Open Banking Authorisation
  • If a third party gives you the option of paying for products or services using Open Banking, you'll be able to allow them to request the payment from your account.

  • Only authorised third parties who have been given your consent can request a one-off, immediate payment from your current account. 

  • For each payment you'll be asked to enter your Internet Banking security details into our Open Banking portal, so we can be sure it's you we're dealing with. For now, it's not possible to give any company ongoing authorisation to make payments for you. 

  • In the future, you may be able to give third parties your consent to request different types of payments on your behalf.

Using Open Banking

Step 1 - make sure you've registered

You need to be registered for our Internet Bank and have logged on at least once to use Open Banking. 

Step 2 - set up Open Banking

You'll need to activate Open Banking through the company you want to share your data with. They'll ask your permission to request your data or initiate a payment through Open Banking. This could be a tick-box on their website or app. 

Step 3 - the Open Banking portal

You’ll be redirected to our Open Banking portal to enter your internet banking login details, so we can be sure we’re dealing with you. 

Step 4 - the security checks

We’ll run our own security checks and if the company is not on the Open Banking Directory, their request for your data or to make a payment will be declined. We won’t share any information with anyone who’s not registered on the directory. 

Step 5 - manage your Open Banking authorisations

Once set up, you can manage your authorisations in the Internet Bank or Banking app under ‘my settings’. You’ll be able to see who you’ve given authorisation to and stop an authorisation at any time.

You can also stop sharing your data through most TPPs by logging in to their service and following their process to revoke your authorisation. This will stop your data being shared. To update your Nationwide account you will need to log in to the Banking App or the Internet Bank.

Log in to the Internet Bank

Not sure what Open Banking is?

Find out more about Open Banking - what it's for and how it could change the future of banking.

Not sure what Open Banking is? - Not sure what Open Banking is?

Worried about security?

Security is always top of our list. Find out how you're protected when you use Open Banking.

How we keep it safe - Worried about security?