Did you know that Open Banking means that you can see all of your finances in one place, which makes it easier to budget, find the best deals, and shop for the products and services that suit your needs?
What’s more, Open Banking will change the way that you use price comparison websites: if you grant these websites access to the information on your utility bills, credit card and bank accounts, for instance, they will be able to highlight where you can make savings and easily switch products and providers
But, even though more than two million of us use Open Banking regularly, some consumers are still wary about the safety of sharing financial information while others think that the moneysaving benefits are simply too good to be true and are looking for the catch.
Do you think that if you share your data with a third party and become a victim of fraud, that you will be held responsible?
Not sure? Watch the videos below