Open Banking and what this means for UK/EU bank feeds

  • What Open Banking is.
  • How it will affect UK/EU bank feeds.
  • What you can do in the meantime while bank feeds are interrupted.
  • What we’d love for you to know.

What is Open Banking?

Open Banking is a new way for consumers to access their financial services which is regulated by the Financial Conduct Authority (FCA) in the UK and its equivalents in the EU. You can learn more about it here.

How will Open Banking affect UK/EU bank feeds?

There will be an interruption to UK/EU bank feed services from September 13, 2019. This is because new Open Banking requirements that come into effect will stop these feeds from importing transactions.

What should we do in the meantime?

You can keep your accounts up-to-date by importing your bank transactions.

What we want you to know

We’ve taken a bit of a hit — alongside a slew of other companies in our position from countries like NZ, Australia and the US — but we do believe that this is a bump in the road to a better financial environment for us all. Needless to say, the irony of ‘Open’ Banking hasn’t been lost on us.

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We make online money management software used by families in 195 countries! We’re passionate about helping people build better relationships with their money.

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PocketSmith

PocketSmith

We make online money management software used by families in 195 countries! We’re passionate about helping people build better relationships with their money.