What is Open Banking?

Open Banking allows you to safely and securely make payments and share bank account information directly from your own banking provider.

A key advantage of Open Baking is when making payments, you are not asked to enter the bank account information of the person you are making payment to manually, this is populated automatically by the service you are using (such as Safe Capital), and you simply need to check the payment amount is correct before authorising it.

You can also find out more about open banking in the Open Banking FAQs and from independent organisations such as the Government MoneyHelper service, Which? and Money Saving Expert.