Overview
To support Open Banking, certain actions must be completed for Bank of Sydney before authorisation can be granted, allowing BGL and Skript to receive bank data.
Pre-Consent: What needs to be done before Authorisation?
For business, trust or other organisation type (including SMSFs)
Business account is not eligible at this stage.
For Individual, joint account and sole trader:
You must meet the following criteria to be eligible to use Open Banking:
- Be 18 years old or over
- Have a valid mobile phone number (used for One-Time-Password Authentication)
- Own at least one publicly offered banking product that is accessible online
- Have an Internet Banking login
- Open banking is currently only available for Bank of us personal customers and a solution for business customers is being developed.
Account Eligibility
- Credit cards
- Deposit and transaction accounts including term deposits
- Offset accounts
- Home loans and personal loans
- Overdrafts and lines of credit
- Foreign currency accounts
- Business loans and overdrafts
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