Open Banking & Payment Services Regulation

Payment services regulations and Open banking

New rules will be introduced in January 2018 which will impact on payments made into and out of your account. The main changes under the new rules:

  • Will apply to payments made electronically
  • Will make it possible for you to use third party payment providers to manage your finances where you have given them authority to do so
  • Describe the information that we need to give to you about each payment and when we must give you that information
  • The banking industry is currently considering the changes that will be required to give effect to the new rules
  • Further information on the above changes and other impacts of the legislation will be updated here in due course

Keeping up to date

This webpage will be updated as more information becomes available.​ In addition customers will be sent full details of all the changes and how they affect you with your statement later in the year.

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