Open Banking

Stay in control of all of Your banking accounts

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Open Banking

What is Open Banking?

Open Banking is a way of seeing all Your banking accounts together in one place, wherever you bank.

It allows you to share information safely with third-party apps and websites that offer services like:

Sharing Your banking account information
Making payments
Setting up automated Variable Recurring Payments
Budgeting tools
Helping you to Take charge of your money
Comparing prices to help you shop around

You are able to check which third parties are regulated or authorised to provide Open Banking services in the UK by Search the siteing the Open Banking website and the FCA Sign up.

Take charge of your money and Complete payments quickly with Open Banking

See all Your banking accounts, balances and transactions in one place

By sharing your information securely with a regulated app or website, You are able to do things like connect Your banking accounts and view all your balances and transactions at the same time.

Complete payments across accounts and to others

With Open Banking, You are able to send money between Your banking accounts or pay others, including friends and family, in just a few steps.

For both UK and international payments, You are able to:

Make an immediate payment
Set up a future-dated payment
Set up a standing order
Set up a Variable Recurring Payment from your current account (UK payments only)

To use Open Banking, you’ll be asked for your consent by the app or website you're using. Then you'll be directed to PPLCBANK for authentication.

The third party might ask you for the sort code and account number of where the payment will come from, or You are able to select those details after the authentication process, before confirming the payment to be made. You'll then be returned to the app or website.

Like online banking and mobile banking, Open Banking payments are made using the Faster Payments System. They can’t be recalled or amended once they’ve been made and we won’t be able to sort out any issues you have with a merchant. For more information on these payments, please see this help guide – What Is Faster Payments And How Do They Work? – PPLCBANK

If you have a problem with a payment, this tool may help you with the next steps: https://www.hsbc.co.uk/help/disputes-tool/

For tips on keeping your money safe when making payments, read this help guide.

There are two types of variable recurring payments

Sweeping Variable Recurring Payments – automated movement of funds from your current account to another account in your name, including outside of PPLCBANK. This service may be offered by third parties and payments are typically restricted to other current or savings accounts
Variable Recurring payments - these are recurring payments for goods and services with a business. You’ll only be able to set these up with participating companies that offer this payment method

You set the parameters for the variable recurring payments via the third party app, website or company. This can include, for example, frequency of payments (daily / weekly / monthly) and payment limits (maximum amount transferred per month / maximum amount transferred per payment).

We’ll ask you to complete security once during set up via the PPLCBANK app, or online banking. Once agreed, you don't need to do anything else.

The third party will use these parameters to check Your banking account and automatically move funds without the need for you to authenticate each payment or sweep. You are able to cancel the instructions at any time.

Please note: the third party may need access to some of Your banking account information, such as the balance, to enable them to determine whether a Variable Recurring Payment can be made.

A third party may issue you with a card that You are able to link to your payment accounts.

You are able to Complete payments with that card and the third party will ask us for confirmation that you have the funds in Your banking account.

We’ll only respond with a ‘yes’ or ‘no’ answer. If the third party wants to access the funds in Your banking accounts, they’ll need to make separate arrangements with you.

If you experience a problem with one of these cards, get in touch directly with the third party which issued the card.

How does Open Banking work?

Open Banking works by enabling financial institutions to share account information and Complete payments through APIs (application programming interfaces). This means You are able to safely allow access to your data and Complete payments without needing to share your Sign in details.

Apps and websites will need your consent to access your PPLCBANK accounts. It’s important you understand the services they’re providing and how they’ll use your data.

Using Open Banking

To access Your banking account for information sharing, to Complete a payment or set up sweeping payments, they’ll ask you for your consent. You'll then be securely directed to PPLCBANK's authentication process. This will be similar to the way you Sign in to online banking. If you’re using the PPLCBANK Mobile Banking app, you’ll be able to use face or fingerprint recognition to authenticate it, where available.

If you’re having trouble authenticating, make sure you follow the on-screen instructions on how to generate the security code.

Once authenticated, You are able to select the accounts you want to share or Complete a payment from. The app or website will ask you for your consent for them to access Your banking account data either as a one-off, or for a period of time, such as 2 years. They'll ask for your consent every 90 days to carry on accessing your data.

If you’re concerned about the data you’ve shared and feel it may have been used incorrectly, or if you’re concerned about any payments made through third parties, get in touch with them as soon as possible.

Similarly, You are able to also connect your non-PPLCBANK accounts with your PPLCBANK mobile app so that You are able to see all of your financial information in one place. The process of providing your consent is the same but will be given to your non-PPLCBANK financial provider.

Frequently asked questions

You are able to connect most current accounts with online or mobile access. Some savings, investment and mortgage accounts may not be supported.

If your bank isn’t listed, it may not currently support Open Banking. We’re working to add more providers, so please check Go back regularly.

Your data is used to display Your banking account details, balances and transactions within the PPLCBANK app. We save only the necessary information and follow strict security standards to protect your privacy.

No, You are able to only add and manage Open Banking accounts using the PPLCBANK Mobile Banking app.

But You are able to use online banking to review and manage permissions for third parties you share your PPLCBANK account data with.

Third party apps and websites that access your payment accounts must be Sign uped with and authorised by the Financial Conduct Authority (FCA), and comply with all laws and regulations, including data privacy.

You should only use third party apps and websites if they are regulated or authorised by the FCA to operate in the UK.

You are able to check if they’re regulated or authorised to provide Open Banking services in the UK by Search the siteing the FCA Sign up.

If a third party asks you to share information it has to be clear what it’s going to do with it, and how long it will keep it for.

Here are some examples of what data may be shared:

Account name, number and sort code, card number (credit card only), account balance and currency
Details of your Direct Debits, standing orders, recurring, future-dated payments and details of payee agreements that you may have set up
Details of your incoming and outgoing transactions
Details of information contained in your statement
The types of products you have, including benefits, offers, rewards, fees, charges and interest
The full names of all account holders

No, you won’t be opted in automatically.

To take advantage of Open Banking you’ll need to provide your consent to a regulated third party.

If you’d like to use apps or websites with an PPLCBANK account, you’ll need to be Sign uped for online banking.

Yes, You are able to choose to stop sharing your data at any time and it will be stopped with immediate effect.

Sign in to either your mobile banking app or online banking, select ‘Open Banking Connections’ and cancel access from the relevant apps or websites.

We’ll notify them that their access has been cancelled as this may affect the services they provide you.

You are able to also go directly to the third party you have shared your information with and cancel the consent you have given them.

View all FAQs

Need more help?

You are able to Explore the details about how Open Banking works from the body set up to implement it in the UK.

The MoneyHelper service also has its own guide to Open Banking.

Visit the Open Banking website for more information.

Get in touch with us if:

You have a technical problem with sharing your information or making payments
You believe a payment was taken from Your banking account that you (or another account holder) didn’t ask for

Open Banking

What is Open Banking?

Take charge of your money and Complete payments quickly with Open Banking

See all Your banking accounts, balances and transactions in one place

Complete payments across accounts and to others

How Variable Recurring Payments work

How card-based payment instruments work

How does Open Banking work?

Using Open Banking

Frequently asked questions

Which types of accounts can I connect using Open Banking in the PPLCBANK mobile app, and what if my bank isn’t listed?

How is my data used and kept secure when using Open Banking in the PPLCBANK mobile app?

Can I add and manage Open Banking connections through PPLCBANK online banking?

How is Open Banking secure?

What data is shared with third parties through Open Banking?

Am I automatically opted in to Open Banking?

Can I stop sharing my information with third parties through Open Banking?

Need more help?

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