Learn how Open Banking works
Your financial information belongs to you, and Open Banking is designed to put you in control of it.
It will always be up to you if you want to make a payment or share data with an Open Banking service. That means you don’t need to opt in or out. You choose which services you want to share data with, and nothing is shared with services you haven’t signed up for.
You don’t need to give anyone your login details to use Open Banking – you’ll only share the account information you choose to. There are also some kinds of service which need your login details to share data which aren’t covered by Open Banking.
Protecting your data as well as your money
Your security is a priority for us, and you’ll find using our Open Banking services as safe and secure as your MBNA credit card.
- Only you can choose to share your data or make a payment.
- You can stop sharing data at any time in Online Card Services.
- Your balance transfers and money transfers are protected in exactly the same way as when you use Online Card Services.
You should still be just as careful as with any other online service. Read the details of everything you sign up for, and make sure you understand exactly what data you’re sharing and how it will be used. Check your statements regularly and contact us if you’re unsure about anything you see on them.
What to expect
Whenever you share data, you’ll be transferred to our secure website and we’ll ask for your Online Card Services login details. This is so we can make sure it’s really you, and your login details will never be shared.
Once you’ve set everything up, data and payment details are transferred between us and the other website/app using a protected connection. If you want to stop sharing anything, you can cancel it through Online Card Services.
Services asking for your login details
When a service asks for your login details, this is usually so they can use types of data which aren’t covered by Open Banking, or to work with banks which aren’t part of it yet.
Before giving your login details, you should make sure you understand the service which the company is providing and that it has been authorised by the FCA.
For more information, read the FCA guidanceRead the guidance on Account information and payment initiation services on this kind of service.
What type of Open Banking services will MBNA offer?
At the moment you can:
- add your MBNA credit card to other websites or apps that share data about your bank accounts or other credit cards
- set up balance transfers and money transfers.
We’re working on more ways for you to use your MBNA credit card with Open Banking.
When you set up sharing, you’ll be able to see exactly what information is included before you agree to it.
You can check what data you’ve already agreed to share by viewing your data sharing settings in Online Card Services. Look for ‘Data sharing settings’ under ‘Your profile’ once you’ve logged in.
You can stop sharing data at any time, either in Online Card Services or through the other website/app. You’ll find your data sharing settings in Online Card Services.
If you’ve shared data by giving someone your login details, you won’t be able to cancel it in Online Card Services. The other website/app should always have an option to stop sharing. This type of sharing will also stop automatically if you change your Online Card Services password.
After you stop sharing data, they might keep a record of what you’ve shared in the past. You’ll need to contact them to check if they do this.
All companies involved in Open Banking need to be registered with the Financial Conduct Authority (FCA) or another European regulator. That means they are responsible and accountable for how they use your data and handle payments. You can check that a UK company is registered for data sharing and payments on the FCA website.
If you’re not sure how someone is using your data, you should talk to them first. If they can’t help you, contact us and we’ll try to resolve the issue.
Whenever you use an Open Banking service, you’ll be transferred to our secure website so we can make sure it’s you. Always check that the web address contains the ‘s’ in ‘https://’ and that it ends with ‘mbna.co.uk’.
Remember, we'll never share your login details with anyone, or contact you by phone or email asking for your login details. We would never ask you to transfer money into a ‘safe’ account either. If you receive unusual phone calls or emails, or have concerns about any other suspicious activity, please contact us immediately.
We publish reports to help you see how we’re doing. They look at uptime, downtime, response and error rates. They’re usually published quarterly. The first report only covers two weeks.
To find out more about how we’re doing, see our Open Banking performance report:
- 14-30 September 2019 - Open Banking Performance Q3 2019 (PDF)
If you're more interested in the technical stuff, see the Open Banking Standard pages.