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Open Banking

Stay in control of all of your accounts

What's Open Banking?

Open Banking can let you see all of your accounts, wherever you bank, together in one place.

It allows you to securely share information with third party providers (TPPs), who can then provide you with a range of services, like making payments and giving you budgeting tools to help you manage your money.

How Open Banking can help you:

Account information sharing: by sharing your information securely with a TPP app, you could do things like connect your accounts and view all of your balances and transactions in a single place. Plus, you could use product comparison sites to check if there’s a more suitable account for your lifestyle.

Making payments: you'll be able to send money directly from your HSBC account through TPPs in just a few steps, to make payments simpler.

Sharing your account information securely

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

There are two ways that a TPP would access your account for information sharing:

1. Application Programming Interface (API) based access

The TPP will ask you for your consent and you’ll be securely redirected to HSBC's authentication process. This will be similar to the way you log on to online banking. If you’re using our Mobile Banking app you’ll simply be able to use your 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 can select the accounts you want to share. The TPP will ask you for your consent for them to access your account data either as a one-off, or for a period of time such as, 2 years.

Depending on the duration of the consent you provide, you may need to refresh their access every 90 days through our online authentication process.

2. Screen scraping access

Before a TPP can access your account, they’ll need to identify themselves to us and we’ll check that they have permission to access your account.

TPPs may then access your accounts by logging on using your online banking security credentials. They’ll need to request this information from you each time, which they’ll share with us.

The TPP will be able to access information in a similar way to when you use online banking. This is commonly known as screen scraping.

TPPs are only legally permitted to access screens and information for accounts that you have given consent to. This includes the account summary, payee information and balance data. All TPPs that access your information must comply with data protection laws and must be registered or authorised with the Financial Conduct Authority (FCA).

If you’re concerned about the data you’ve shared and feel it may have been used incorrectly, get in touch with the organisation or the TPPs as soon as possible.

Making payments with Open Banking

Open Banking access

You’ll be asked for your consent by the TPP before being redirected to HSBC for authentication, much like account information sharing.

TPPs can ask you for the sort code and account number of where the payment will come from, or you can select those details after the authentication process and confirm the payment to be made.

When the process is complete we’ll send the requested information to the TPP, or make the payment.

Via online banking

TPPs will ask you to input your online banking security credentials into their website or application. Using this information they’ll be able to initiate payments in a similar way, as if you were logged into online banking directly.

How card-based payment instruments work

A new payment method known as ‘card-based payment instrument issuer’ has been introduced, which allows a TPP to issue you with a card that you can link to your payment account(s).  

You can make payments with that card and the TPP will ask us for confirmation that you have the funds in your account.

We’ll only respond with a ‘yes’ or ‘no’ answer. If the TPP wants to access the funds in your account(s), they’ll need to make separate arrangements with you. 

If you experience a problem with your TPP issued card, get in touch directly with the organisation or TPP who issued the card.

Need more information?

Visit the Open Banking website for more  information.

Give us a call if you’re experiencing one of the following problems:

  • you have a technical problem with making payments
  • you believe a payment was taken from your account that you (or another account holder) didn’t request
  • a TPP has accessed information through screen scraping that they shouldn’t have

Call us on:

03457 404 404

Our teams are currently operating on reduced hours (08:00-20:00, 7 days a week).

Please note that our Call Centre isn’t open on Christmas Day, Boxing Day or New Year's Day.

If you’re not happy with any of our services visit our complaints feedback page. 

Frequently Asked Questions

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