Open Banking: Can the banks see transactions across all my accounts

JP2019

For example: Let’s say I have a Natwest, Santander and Barclays current accounts on open banking.

Would all three banks be able to see the account information for the other banks are Transactions etc etc?

bonkersbanker

JP2019 said:

For example: Let’s say I have a Natwest, Santander and Barclays current accounts on open banking.

Would all three banks be able to see the account information for the other banks are Transactions etc etc?

Yes the banks would be able to see this information, when you agree to add an account on open banking you agree to share your information with the other banks, you should be able to see this in any of the T's&C's

colsten

Only if you give them permission.
You can use 3rd party apps to aggregate your accounts. These will most likely support more providers than the banks' apps. Using a 3rd party app also doesn't tie you to any given bank for your aggregated data. However, there is presently no app which supports all providers - many Building Societies, and also investment platforms, are not supported. Check out Yolt, Moneydashboard

sal_III

You doesn't seem to understand Open Banking. You don't put your accounts on Open Banking for mass sharing.

Open banking is a standard for information sharing and you have separate explicit permissions for each connection.

For example if you use Open Banking to share account data with Yolt (or any similar app) for example, each bank will ask you for permission to share your data with Yolt for a set amount of time. That doesn't mean Bank A will see information on Bank B, just because both Bank A and Bank B are instructed to share data with Company C. The connection/permissions are not transitive.

The only scenario where Bank A might get information on your account with Bank B is if you connected Bank B account to the app of Bank A with Open Banking.