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Open banking FAQ

Get answers to your questions about accessing and sharing your banking information with accredited third parties.

Authorisation

Am I automatically opted in to open banking?

No. It's always your choice. You need to give data-sharing consent to a third party, known as an ADR (Accredited Data Recipient) if you want to share data using open banking. This process is completely voluntary.

How do I get started with open banking?

It's a simple 3-step process:

  1. You'll need to be an active user of HSBC Online Banking or the HSBC Mobile Banking app.

    If you have not yet registered for HSBC Online Banking please visit https://www.hsbc.com.au/register/ and follow the prompt to register.
  2. You'll also need to have your Secure Key (either physical or Digital) ready to authorise the sharing of your data to a third party, known as an ADR (Accredited Data Recipient). For more details about Digital Secure Keys, please see the FAQ page www.hsbc.com.au/faqs/online-banking/#secure-key.
  3. You'll then be able to manage your data-sharing authorisations using HSBC Online Banking or the HSBC Mobile Banking app.

Is there an offline process for granting authorisation to HSBC Australia to share my data? Or can I contact HSBC Australia Customer Support via telephone and request for a data-sharing authorisation to be granted?

No. The CDR (Consumer Data Right) rules for open banking provide a digital data sharing authorisation process for data holders, such as HSBC Australia.

Offline or paper-based authorisations are not allowed.

You can call our Customer Support team to get help getting started with open banking.

Why can't I select some of my accounts for data sharing?

Not all accounts are eligible for data sharing at this stage.

Our Accounts eligibility section lists the accounts that are currently eligible.

As each new phase of open banking is rolled out, more accounts will be added.

Can I control or reduce how long the data will be shared for?

Unfortunately, no. Once you have provided your consent to an ADR (Accredited Data Recipient), the data sharing period is decided by the ADR with your approval at that time. This can be for up to 12 months.

You can withdraw the consent you provided to the ADR, or withdraw your authorisation to HSBC Australia, whenever you want to stop sharing your data.

Please see the section on stopping data sharing to withdraw your authorisation to share data.

Can I control or restrict what type of data is shared?

No. Once you have provided your consent to the ADR (Accredited Data Recipient), the type of data to be shared is decided by the ADR with your approval at that time.

Please see the What type of information can be shared section to find out what types of data can be shared.

How do I confirm that I have successfully completed authorisation?

Once you have completed the last step of the process as set out in our data-sharing authorisation section, HSBC Australia will automatically redirect you to the ADR (Accredited Data Recipient) where you will be shown the details of your data-sharing consent.

You can also see the details of your data-sharing authorisation by visiting the 'Manage data sharing' section in the HSBC Mobile Banking app.

Mobile 'Manage data sharing'

I can't remember whether I agreed to share data with a particular organisation. How can I check this?

Use the HSBC Mobile Banking app to check what active data-sharing arrangements you have in place.

You can also withdraw any active data-sharing authorisation immediately via the app.

Does the data sharing stop immediately after I withdraw my authorisation?

Yes, data sharing will stop immediately after you confirm withdrawal of your data-sharing authorisation in the HSBC Mobile Banking app.

You should contact the ADR (Accredited Data Recipient) to find out which services will be affected when you stop sharing data.

Can I add or remove accounts from an active data-sharing arrangement?

No. A new consent must be established in order to specify the new accounts included in the data-sharing arrangements.

To create a new consent please contact the ADR (Accredited Data Recipient) that you've shared data with.

What are inactive consents or data-sharing arrangements?

Data-sharing arrangements are time-limited and become inactive when they expire. So if you granted authorisation for 1 year, they become inactive after 1 year.

Data-sharing arrangements can also become inactive if you choose to stop sharing data. This happens after you confirm withdrawal of your data-sharing authorisation in the HSBC Mobile Banking app.

Once a data-sharing arrangement becomes inactive, all related data sharing stops.

Am I able to reactivate an inactive consent arrangement?

Yes. To restart data-sharing, you need to grant consent again to the ADR (Accredited Data Recipient).

Please contact your ADR or refer to the ADR's website.

Why can't I find the 'Manage data sharing' section in HSBC Online Banking?

The 'Manage data sharing' function is only available through the latest HSBC Mobile Banking app.

You can download the latest version of the HSBC Mobile Banking app from the Apple or Android App store.

I need to withdraw my data-sharing authorisation but I'm having difficulties installing or accessing the latest HSBC Mobile Banking app. Can you help?

Please contact us at https://www.hsbc.com.au/help/contact/ and we'll help you to revoke your data-sharing authorisation.

What should I do if I have a query or complaint related to open banking or the sharing of my data?

What should I do if I notice that my shared data is incorrect?

If you have identified that any of your data previously shared with an ADR through Open Banking is incorrect, please email us and include the details of the incorrectly shared data for us to investigate.

Please note that this email address is specifically for Open banking data correction requests, all other queries will not be responded to.