Open banking is a secure technology that enables you to share your account information with, and make payments through, regulated Third Party Providers (TPPs).
When using open banking, you can enable new online payment methods integrated with third party services or view your financial account information from multiple providers. The services available will depend on those offered by the registered TPP.
If a TPP asks you to share account information they have to be clear what they're going to do with it and how long they’ll keep it for. This data may include:
- Account name, number, sort code and account balance
- Direct debits, standing orders, other payee agreements that you may have set up and details of single one-off payments scheduled for a future date
- Incoming and outgoing transactions, details of each transaction on your statement and your account balance after each transaction
- Account Statements - the frequency and format of the statements for the customer's account
- Commercial Card Statement information - Debit and credit transactions, opening and closing balances, credit limit, minimum and overdue payments, statement interest, fees and charges.
- The types of accounts you have, including account benefits, fees, services and interest
How open banking works at HSBC UK
How to access open banking services
If you choose to access a service offered by a TPP using open banking, that requires you to either share your account information or make payments from your HSBC UK account, you'll need to give your consent to that TPP. The TPP will then contact us, and you'll be re-directed to our secure open banking website or app to complete the request.
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HSBC UK Business Banking customers
You'll need to be registered for Business Internet Banking, or use the HSBC UK Business Banking App. You do not need to download any additional app to use open banking.
You'll need your HSBC UK Business Banking login credentials so we can confirm your identity and you can provide your authorisation for sharing your account information or completing any payment requests. We'll then return you back to the TPP's website or App and use a secure connection to complete your request. Only the account information which you have approved will be shared with the TPP.
Primary users will be able to view the details of any authorised TPP request through your HSBC Internet Banking or the HSBC UK Business Banking App, where they can also cancel TPP data sharing or payment arrangements at any time using open banking connections. If you have further queries on logging in or on using your security device, you can find more information on our BIB Help centre pages.
- If you’re a HSBC Kinetic customer open banking services can be accessed in the HSBC Kinetic app.
- Open banking services can also be accessed across Personal Banking and HSBCnet.
If you'd like to speak with us, please don't hesitate to contact us.
We’re open Monday to Friday, 8:00am to 8:00pm and Saturday, 8:00am to 2:00pm (subject to change over certain periods). Our up-to-date opening hours can be found at business.hsbc.uk/contact-us. If you’re calling from outside the UK, please dial +44 1226 260 878. To help us improve our service, and in the interest of security, we may monitor and record your conversation. If you need a Text Relay service, you can download the ‘Relay UK’ app and call our number from within it.
