- The Quick Answer
- Accounts that are generally supported
- So why can i still see switch to open banking
- But I still want to add my Savings Account
Hey there, thanks for reading. So let's set the scene...
- You're on your accounts page and you see the 'Switch to Open Banking Button' next to one of your accounts
- You clicked on it and entered your credentials for your provider
- You then can't see the account you want to swap to Open Banking on your providers page
- We feel your pain
The Quick Answer
For your provider your account type isn't supported so you cannot move it across to Open Banking
If you want to know more about Open Banking, click here. Otherwise keep reading.
The list of banks with Open Banking Connections available can be found here
Accounts that are generally supported
The reason you see the 'Switch to Open Banking' option is because your provider is converting some of their accounts of Open Banking. Now, here's the catch. Not all savings accounts can be swapped to open banking*. As a general rule, if you can make transactions from your savings account to another account not owned by you then it will be available to switch to open banking.
*The reason why is that not all savings accounts come under PSD2, which is legislation that requires banks to make your account information more accessible to you.
So why can I still see switch to Open Banking?
Unfortunately our system cannot identify in advance whether your savings account will be available via an Open Banking API yet. The reason for this is because we made the decision that if any (and not all) account types supported by your provider can be switched to Open banking you will see this option. But it's not all sad, as soon as your provider allows for that account type to move across to Open Banking we will update our service and let you know.
But I still Want to add my savings account!
So we thought this would be an issue. One way to add your account is through offline sources. For how to add through offline sources click Offline Sources