TrueLayer | Open banking guide: open banking and bank accounts

3. Open banking and bank accounts

Which banks support open banking?

Open banking requires consumers to have their own bank account. But not all banks or bank accounts are covered by open banking.Initially, nine of the biggest UK banks were required to sign up to Open Banking. These were: Allied Irish Bank, Bank of Ireland, Barclays, Danske, HSBC, Lloyds Banking Group, Nationwide, RBS Group and Santander.However, other banks have signed up since then, and the list is growing all the time. The current banks and building societies who offer open banking in the UK are:
  • Allied Irish Bank
  • Arbuthnot Latham & Co Limited
  • Bank of Ireland UK
  • Bank of Scotland
  • Barclays
  • BFC Bank
  • C Hoare & Co
  • Clydesdale Bank
  • Contis
  • Coutts & Company
  • Coventry Building Society
  • Creation Financial Services
  • Cynergy Bank
  • Danske
  • Ghana International Bank
  • Halifax
  • Hargreaves Lansdown Savings
  • HSBC
  • ICBC (London)
  • Industrial and Commercial Bank of China
  • Investec
  • Lloyds Bank
  • M&S
  • MBNA
  • Metro Bank
  • Mizuho Bank
  • Nationwide
  • NatWest
  • NewDay
  • Permanent TSB
  • Prepay Technologies
  • Project Imagine
  • Revolut
  • Sainsbury’s Bank
  • Santander
  • SG Kleinwort Hambros Bank
  • Starling Bank
  • Tesco Bank
  • The Co-operative Bank
  • The Governor and Company of the Bank of Ireland
  • The Royal Bank of Scotland
  • The Royal Bank of Scotland International
  • Tide Platform
  • TSB Bank
  • Turkiye Is Bankasi As
  • Ulster Bank
  • Ulster Bank Ireland DAC
  • Union Bank of India
  • Vanquis Bank
  • Virgin Money
  • Wirepayer
  • Yorkshire Building Society

What accounts can I use open banking with?

Open banking requires a bank account with online or mobile access and the ability to make payments such as personal and business current accounts. It can't be used with savings accounts, investment accounts, restricted payment accounts or accounts for which online access is not available.

Can I use open banking with business bank accounts?

As long as your business bank account has online or mobile access and has the ability for direct payments to be made, you can use it with an open banking app. There are numerous open banking apps specifically designed for use by businesses and SMEs.Some online accounting software can also make use of open banking to increase security when checking bank balance information. Open banking is more secure than 'screen scraping' which is the old way for online accounting packages to check balances.Not all providers support access to business accounts. If you're a business looking to use an open banking intermediary, you should check which types of bank accounts that provider supports.

Can I use open banking with credit cards?

Yes, in the UK credit cards are classed as payment accounts and customers have a right to access their credit card data through third party providers. 

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