HSBC have moved all of their users over to a Secure Key only login (Strong Customer Authentication - SCA). See more information about this at the HSBC site here: https://www.hsbc.co.uk/help/security-centre/simple-safe-secure/
For now I'm afraid you will only be able to connect your HSBC accounts to Money Dashboard using the Secure Key login. Unfortunately this also means that it will no longer be possible for the accounts to automatically refresh, and you will need to generate a new Secure Key code every time you need to update the accounts.
We appreciate that this change will become time-consuming and inconvenient. To mitigate this we will shortly be integrating connections to HSBC using the new Open Banking APIs (More information on our support pages here: https://help.moneydashboard.com/hc/en-us/articles/360000421263-What-is-Open-Banking- )
Connecting to HSBC with Secure Key
- Enter your username and the memorable answer to your normal login question. Select 'With Secure Key'. Leave the Password field blank.
- Once you click/tap 'Connect to HSBC' you will be prompted for the Security Code generated by your Secure Key device or Digital Secure Key on the HSBC mobile app once your username has been verified.
Generating your Security Code on a physical Secure Key device
- On your secure key device, press and hold down the green bottom right hand corner button to turn it on.
- Enter your secure key PIN.
- With 'HELLO' displayed on the screen, press the green bottom right hand corner button. This will then generate a Security Code.
Generating your Security Code on a Digital Secure Key app
- Open the HSBC mobile app and select 'Generate Security Code'
- Enter your Digital Secure Key password and select 'Generate'
- This will then generate a Security Code.
Open Banking APIs
We aim to introduce our Open API access once all major banks have released their Open APIs and we are sure that they are stable and secure. It is worth noting however that not all bank account types may be available through Open Banking at this time - while all Current Accounts will be available, some banks have not yet provided Open API access for Savings or Credit Card accounts, and I'm afraid that at this time HSBC only have current accounts available under their Open API. We're currently in the process of testing the Open API connections, and when this is complete we will contact users shortly to advise how to go about migrating their accounts on Money Dashboard over to these new connections.
While Open Banking is a still work in progress, you are still able to benefit from our service for account types not covered by Open Banking (and smaller financial institutions) by using ‘credential sharing’ through our data partner Yodlee, a method which is now supported by the banks in this interim period, and gives you the same protections in the unlikely event something goes wrong.
The UK Government, FCA, Open Data Institute, and British Banking Association all recognise that the data we are processing is the property of the consumer, not the banks, and that in that capacity the consumer should be able to instruct an agent (such as Money Dashboard) to process this information for them.
To this end Money Dashboard is now a designated Account Information Service Provider (AISP) authorised and regulated by the Financial Conduct Authority, registration number 800652. For more information on the FCA's provision of AISPs, see here: https://www.fca.org.uk/consumers/account-information-and-payment-initiation-services , and in particular this paragraph from the 'Sharing security details' section:
"Your banking terms and conditions should not prevent you from sharing your credentials with regulated AIS or PIS providers. Your bank cannot hold you responsible for unauthorised transactions just because you have shared your credentials with regulated AIS and PIS providers."
More about PSD2 (Open Banking):
Information on our Data partner Yodlee can be found here:
Find out more about our security at: