Open Banking sounds like you're giving a third party access to your bank account. In practice, it's more precise — and far more controlled — than that. Here's exactly what happens when you connect your bank to GoodBreach.
What Open Banking actually is
Open Banking is a regulatory framework introduced by the FCA and CMA in 2018. It requires banks to allow authorised third-party providers to access transaction data — but only with your explicit consent, and only through secure, standardised APIs.
The key word is authorised. Only companies registered with the FCA can participate. GoodBreach is FCA registered.
What GoodBreach can see
- →Your transaction history (amounts, dates, merchant categories)
- →Account balance
- →Account name and sort code
What GoodBreach cannot see or do
- →Your full account number
- →Your PIN or password
- →Move money without separate explicit authorisation
- →Share your data with third parties without consent
"Open Banking is read-only access to your transaction history. We see what you spend. We can't touch it."
How to revoke access
You can disconnect GoodBreach from your bank at any time — either from within the GoodBreach app or directly through your bank's own settings. When you disconnect, access is immediately revoked. We retain no ongoing data feed.
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