What is midata?
midata is an initiative to improve transparency across the banking industry. midata provides personal current account customers, who are registered for online banking, with access to their transactional data for their current account(s) only, which they can upload to third party price comparison websites to compare and identify best value. Each price comparison website displays alternative current account providers based on their own calculations.
The midata download shows all the transactions on this account for the 12 month period ending 30 days ago, in the midata standard format.
What does midata compare?
The provision of data in the midata standard format allows customers to upload this to price comparison websites. In line with the Code of Practice price comparison websites should display alternative current account providers based on their own calculations for charges, fees and interest.
midata only compares current accounts that are currently available and may not compare benefits from reward and loyalty schemes, insurances and offset mortgages. More information can be found on the PCA website.
How do I access midata?
From 'My Accounts', select the current account you wish to download midata for. Then select the 'Manage' button and 'midata download' under the 'Documents' section. Read the text and then select the 'Download' button.
midata has been designed only to be downloaded using a PC or a Mac with internet access.
As long as there have been some transactions on the account within the 12 month midata period, midata will still be available to download.
Will all banks be part of midata?
midata is a voluntary scheme however many of the major UK banks are participating.
Current account providers and third parties associated with midata have committed to a midata Code of Practice which is available on the PCA website.
Why does midata have to be in a specific format?
Using a common format means you don't have to type your information into a price comparison website, but can simply upload the file. Please note that because of the specific midata format it mustn't be amended before uploading to any third party comparison websites.
Some transaction descriptions may contain asterisks. These are used to replace information that isn't required for personal current account comparison purposes and has been agreed as the industry standard for midata.