No, open banking is entirely down to you and you're in complete control. If you want to use it, you'll be asked to give your consent. Your consent will allow a third party to access your data, specifying what they can do with it and for how long.
When we receive a request from a third party, we'll check our records to make sure we have your consent before sending data to them. They will only be able to access account information, make payments and confirm funds.
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If you decide to use open banking, make sure that you read the terms and conditions of each third party to understand exactly what information they will access and how they will use it.
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If you decide not to take part in open banking and take no action, nothing will change.