Open Banking and Third Party Providers

Open Banking is a system that allows other financial service providers, called Third Party Providers, to access your financial data such as banking transactions from banks and other non-bank financial institutions. This enables you to to easily & confidently access, share and view information related to your accounts and services in one place, to initiate payments and manage your finances more effectively.

Third Party Providers (TPPs), who need to be authorised or regulated by the Financial Conduct Authority (FCA), are intermediary companies you can allow access to your financial data so that they can provide account information services and / or payments services. 

Account information - authorised TPPs can enable you to see information for all your bank accounts in one place, for example in a mobile app or online. 

Payment information - regulated TPPs can enable you to use their applications to send payments from your bank accounts. 

A TPP can only access your information with your permission. 
If you choose to use a TPP, please ensure you remain diligent when sharing confidential information. There is some important safety advice to remember:

• Be cautious when you receive seemingly random contact by telephone, email or social media. Fraudsters pretend to be legitimate companies, so be careful when anyone requests your information.
• Always check that the TPP is legitimate and authorised.
• Don't disclose any information if you don't know who you’re talking to or suspect the provider isn't who they claim to be.
• Make sure you understand and agree with the level of access you’re providing, what account data you will share, and how your information will be used.

Third Party Providers (TPPs) have to be authorised by the Financial Conduct Authority and registered on the Open Banking Directory. We will not share information with any TPP that isn’t authorised or registered. You can find out if a TPP is authorised on the FCA website.

When registering with a TPP, if we’re not listed it will be because that TPP has not registered with us. If you want to continue using the TPP, ask them to contact us and register. Details of how they can do this are available on our Developer Portal.

All Open Banking consents are available from the Open Banking option when logging in to your Online Banking. You can view and manage your consents from here. 

When you sign up with a TPP you are giving consent to them to access your data. They should provide you with information to understand the nature of the service being provided and how they will use your data, including whether it will share your data with anyone else. The TPP will need to get your consent to access your data for the purpose of providing services to you, but you are in control of your data and can remove consent at any time.

TPP services are provided by third party companies and not CAF Bank. You will need to contact the TPP directly and follow their process to opt out of their services. 

TPPs have a regulatory requirement to keep your data and credentials safe and secure.
Be vigilant to fraud when using TPPs.  If you have any doubts whether a TPP is legitimate, ask them for more information to clarify who they are. If you don’t know who you’re talking to, or you suspect that the provider isn’t who they claim to be, don’t disclose your banking security credentials or any other information. If a TPP is not properly authorised or regulated by the FCA they will not be able to complete the onboarding process to CAF Bank.

We won’t charge you to use a TPP to access your accounts however some TPPs may charge you for their products and services.

No. Once a TPP has been registered for access with us, you will see CAF Bank listed in the TPPs’ website under their list of Account Servicing Payment Service Providers (ASPSPs) when setting up the connection and granting consent. They may notify you or have an area of newly added ASPSPs. 

Yes, you will be able to access your accounts via a TPP at all times, the same as if you were logging on directly from our website.

If you have a complaint about the service you have received from the TPP please contact them directly.

You can see more information about open Banking here: https://www.openbanking.org.uk/faqs

Yes. When access to customer account information is denied, CAF Bank will contact you to inform you of our intentions and reasoning for denying access.