What is Open Banking?
The Australian Government passed the Consumer Data Right (CDR) in 2018, giving people greater access to, and control of, the data associated with the products and services they use.
Open Banking is the first phase of CDR, allowing both personal and business customers to give consent to transfer data to third parties about the products and services they use.
Want to learn more about the Consumer Data Right? Click to download a copy of our Consumer Data Right (CDR) policy.
Beyond Bank is an accredited data holder and accredited data recipient.
A data holder is a business that holds consumer data and must transfer the data to an accredited data recipient at the consumer’s request. Accredited data recipients can use a consumer's real data to provide a product comparison, specific service or product, or create new products or services.
Sharing your data.
How to start sharing your single account.
Consent to share.
You can give your explicit consent while using the app or website of the accredited third party you want to share your data with.
Login to Beyond Bank.
You'll be redirected to our secure platform to complete the process. Login using your member number and one-time passcode*. We'll never ask you to enter your Beyond Bank Internet Banking password to share your data.
*You will receive your one-time passcode via App push notification, if you are registered with our Mobile App. Otherwise, you will receive it via email, or you can obtain it yourself via Internet Banking.
Review sharing details.
You'll be presented with the data that you'll be sharing. Take a look and confirm you are happy to proceed to the next step.
Choose the accounts you would like to share and provide consent to complete the process.
Once you've finished, your data will be sent to the accredited third-party provider and you will be redirected to their website or app.