Share this page:
Stay connected:
Welcome to the Citywire Money Forums, where members share investment ideas and discuss everything to do with their money.

You'll need to log in or set up an account to start new discussions or reply to existing ones. See you inside!

Notification

Icon
Error

Open Banking
Milo Don
Posted: 29 October 2017 10:32:55(UTC)
#21

Joined: 18/05/2016(UTC)
Posts: 14

Was thanked: 23 time(s) in 12 post(s)
jvl,

"I'm a little surprised at the level of negativity and perceived risk here. I guess this is the inertia and fear factor..."

I am not really surprised there is unease over open banking.
The Natwest blurb states "Some TTPs (3rd party providers) might ask you for your online banking log in details and password to provide their service to you.... If you give TPPs permission to access your accounts, we're not responsible for what they may do."

That's hardly the sort of policy that makes people think "That's a cracking idea. Nothing can go wrong."

I'm sure most of it will be fine, and no doubt everyone will thoroughly check the FCA register, do due diligence on all the directors and their previous roles etc....

But if jvl Fintech Ltd rings me up and asks for my online banking log in details, I'm afraid I'm going to have pass and struggle on with the largely adequate and simple banking & investing that cause me so little grief currently!

1 user thanked Milo Don for this post.
Tony Peterson on 12/11/2017(UTC)
Micawber
Posted: 12 November 2017 09:20:08(UTC)
#22

Joined: 27/01/2013(UTC)
Posts: 1,737

Thanks: 758 times
Was thanked: 2506 time(s) in 970 post(s)
1 user thanked Micawber for this post.
Tim D on 12/11/2017(UTC)
2 PagesPrevious page12
+ Reply to discussion

Markets

Other markets