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Open Banking is a safe, secure way for you to view all your financial products, services and accounts in one place, on a single regulated app or website. Anyone who manages their current account, credit card or easy-access savings account online can use Open Banking.
As well as allowing you to view all your accounts together, an Open Banking app or website lets you make secure online payments straight from your current account. When you use Open Banking, you control your data. If an Open Banking app or website asks to access your account information or to make a payment for you, they can only do it once you’ve given them your consent – and you can withdraw that consent at any time.
It’s useful because:
• It enables you to move and manage your money easily, with all your accounts in one place
• It gives you access to tailored deals on financial products and services, which are based on your account information
• It puts you in control of your data. Only you can share your account information with other banks and service providers
As a Virgin Money customer, before you can use Open Banking, you need to sign up for our mobile app first.
Head over to The Financial Conduct Authority, MoneyHelper or Open Banking Organisation to find out more.