After changes to the law and regulation, you can now give permitted companies TPPs access to some of your accounts, so they can give services such as:
- Account aggregation: see your accounts with different providers all in one place in a mobile app or online. Banks, building societies and price comparison websites are some of the companies that offer this service.
- Payment initiation: online payments can be made on your behalf, as an alternative to using your debit or credit card. Some online retailers provide this service.
- Confirmation of funds: the ability for a TPP to be able to confirm if you have available funds before you use their card for a purchase.
TPPs can only access your information and provide these types of services if you're registered for Internet Banking and give your consent. If you share your Internet Banking details the TPP will be able to see information about other accounts you can see in Internet Banking.