Sunday, 17 December, 2017 @ 23:28:14

Author Topic: Bank a/c changes: privacy risk?  (Read 155 times)

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Offline Maik

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Bank a/c changes: privacy risk?
« on: Tuesday, 31 October, 2017 @ 12:58:37 »
Quote
UK Banking Regulation Changes January 2018

Just received this from my Bank..(NatWest)

We want to give you plenty of notice about some changes we’re making from 13 January 2018 that will affect your current account(s). We’re also changing our terms in line with new regulations. Please take time to read the information and understand how these changes might affect you.

New regulations will come into effect on 13 January 2018 – making sure all European banks process payments in the same way, in an increasingly digital world.

Here are the main changes:

1) With your permission, third party providers (TPPs) can access your information to provide their services.
•New digital banking services are entering the market offered by us and TPPs. These will include new ways to pay for things online and tools that help you to view all your accounts with different financial providers in one place. Before giving a TPP permission to access your account information you may wish to check that they’re authorised by the Financial Conduct Authority (FCA) to provide their service.

•Some TPPs might ask you for your online banking log in details and password to provide their service to you. If you decide to give them this information, this means that they’ll be able to see and do anything you can do on your accounts.

•If you give TPPs permission to access your accounts and account information, we’re not responsible for what they may do.
http://investmentwatchblog.com/uk-banking-regulation-changes-january-2018/

Offline TonyKath

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Re: Bank a/c changes: privacy risk?
« Reply #1 on: Wednesday, 01 November, 2017 @ 18:13:58 »
This is November 1st not April 1st... ?!  Give them your login credentials - I don't think so!   :rant:

Tony
« Last Edit: Wednesday, 01 November, 2017 @ 18:15:32 by TonyKath »