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Open Banking is an initiative in the Australian Banking industry which gives you the ability to share your banking information with other accredited parties – such as other banks and financial institutions via an online, easy to use and automated process. This makes it easier for you to manage, compare and consider switching banking products and services.

You may have seen some third-party services in the market which allow you to view all your accounts across different banks in one place. Open Banking acts in the same way, but much more securely – you won’t need to connect to your internet banking to share your banking information other than to provide your initial consent.

As part of Open Banking, the Consumer Data Right (CDR) will allow you to easily compare products and pricing by using your real data, rather than estimates or having to fill out forms. It can help you to manage your budget and stay on top of your accounts across multiple banks and make it easier to apply for loans or products.

Open Banking gives you choice, control and convenience, and as an opt-in service, sharing your data securely is completely in your hands.

Privacy and Security

Your privacy and security are our highest priority. We have comprehensive security measures in place to ensure your accounts and personal information are protected from unauthorised access. Your privacy is also protected by our Privacy Policy.

You can find more helpful information about Open Banking at:

You can find out more about Australia’s Consumer Data Right on the ACCC website. 

Your Open Banking questions answered

Open Banking is an initiative in the Australian banking industry which gives you the ability to share your banking information with other accredited parties – such as other banks and financial institutions – online via a simple, easy to use and automated process. Doing this makes it easier for you to manage and compare accounts, and consider switching banking products and services.

Open Banking is provided and governed by the CDR legislation, introduced by the Australian Government to give consumers more control over their data.

When you have the option to share your data though Open Banking, you'll be asked by your service provider who you bank with and what account information and data you’d like to share. 

You can choose to share account balances, your account type and transaction information (including the transaction amount, date and description). Remember you can see and manage this at any time.

Once you choose to share your data, you'll be taken to a webpage and will need to enter your P&N member number. Then you will need to:

  • Verify your identity, using a one-time password. This is provided by P&N Bank and displayed in internet banking and the mobile app under Data sharing. If you're not currently registered to use the mobile app, your code will be sent via email, or you can generate a one-time password.
  • Agree (provide consent) to share your data. If the account is a joint account, a proposal will be created and sent to all account holders to gain their consent.
  • Select the accounts you want to share data for and confirm.

The data sharing is done between accredited providers. You as a consumer consent to your data being shared from a data holder to a data recipient. All providers must be accredited by ACCC in order to start sharing data.

An accredited data recipient receives consumer data to provide a product or service; whereas an accredited data holder holds consumer data and can transfer the data to an accredited data recipient upon receiving a consumer’s request and consent.

You can find a current list of providers on the CDR website.

You can view this through internet banking or mobile app. 

In internet banking go to to  Services > Data Sharing to see a list of your existing or previous data sharing agreements.

IN the mobile app go to Settings > Manag data sharing.

To display more information about the data sharing agreement, select “Sharing”/"Withdrawn”.

Your data is only shared as part of an active data sharing agreement, and you can withdraw your consent to share your information at any time.

The Consumer Data Right (CDR) is an economy-wide reform that puts your data back in your hands. It means you can share your confidential data securely, with the businesses you choose, for use as you choose. It makes it easier for you to:

  • compare products and services,
  • access better value and improved services, and
  • manage your finances and cash flow.

It enables consumers to share their data with accredited providers via a simple, secure and easy to use automated process.

CDR will first apply to the banking sector, however, will apply to utilities sectors in the future.

CDR provides a range of rules and safeguards to ensure your data is protected.

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