Open Banking - what?

[Jim K..]

Harry Bloomfield, Esq. [e-mail]> Wrote in message:

Google?

[Harry Bloomfield, Esq.]

One of my bank accounts is pestering me to join 'Open Banking'. Anyone know anything about it please?

[Archibald Tarquin Blenkinsopp]

I would avoid giving anything to Natwest.

They lost all my personal data.

They assured me my data was secure, although how anyone that loses the stuff can state that beats me.

I settled for £100-00 and closed my account with one of their cabal due to the fiasco.

Useless bloody shower, didn't even have a branch phone contact number.

There's a fine line between fishing and just standing on the shore like an idiot.

~Steven Wright

[Tim+]

I think it?s about sharing customer data with other banks so that they can offer/pester you with better deals. Supposed to make banks more competitive. Personally I have no intention of allowing my bank to share my data like this.

Tim

[charles]

Sounds as though it lets your account be open to anyone. That doesn't seem right.

[charles]

A charity of chich I am chairman is trying to change the signatoies on our account. so far 3 months have passed. We call them NatWorst

[Andy Burns]

So far I don't make use of it, but it lets you give access to your account(s) to other systems, e.g. I think my barclays app on the phone could show the balance of the santander account.

At the moment, I export transaction data as QIF files and suck it into my accounting system, the accounting system can use openbanking APIs to do the same thing ... except not with santander for some reason.

[The Marquis Saint Evremonde]

charles [e-mail]> posted

You can thank the EU for the idea.

Personally I know no-one who has asked for it.

Believe me, Lloyds is just as bad at doing the same thing.

[tabbypurr]

and saint pander

[charles]

and from a previous experience with a different charity and Barclays, I know they're useless as well. That took 7 months!

[Martin Brown]

I think it is supposed to make it possible for third aprty apps to show you a financial overview. I don't trust them not to leak information - I was in the big Experian data breach so I am wary of sharing anything.

Try HSBC or Santander - they are quite good of the high street banks. HSBC are officious about money laundering (but then they all are now). Failure to comply with their enquiries in a timely manner can result in your charities bank account being frozen. Happened to a VH I know.

I always kept copies of all mandates submitted to NatWest and Barclays together with the date they were handed to the bank since more often than not they would swear blind never to have received them.

[Brian Gaff]

Yes we want the Spanish lot to do this as well, but they want the old signatory to come in person, but they moved to the other end of the country so no.

They really are a bunch of idiots sometimes. Brian

[charles]

It was dear Barclays who wanted the signatories who had opened the account in 1932 to come forward. Both had dies many years ago and they'd been paying cheques with the currrent signatories for about 10 years.

[tim...]

no, just other banks

still not a good idea though

tim

[Andrew]

DON'T.

[Andy Burns]

not only banks.

[Harry Bloomfield, Esq.]

Andy Burns wrote on 17/08/2019 :

I was offered that by one bank, separately - it wanted me to give it access to my other accounts. I imagined that was something other than the 'Open Banking'. I declined it.