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A business man using laptop; image used for HSBC Australia Open Banking.

Open Banking

Securely access and share your banking information with accredited third parties.

What is Consumer Data Right (CDR) and Open Banking?

The Australian Federal Government has passed legislation under the Competition and Consumer Act 2010 and the Competition and Consumer Rules 2020 (CDR Legislation) introducing, Consumer Data Right (CDR) – more commonly referred to as 'Open Banking'.

The aim of Open Banking is to provide you with greater choice, access, and control over your information and the data associated with your banking products and services. This includes the ability for you to securely share some of your banking information with accredited third party participants in the CDR regime.

For more information, please visit the CDR page at ACCC.

HSBC Australia's CDR policy

Our CDR Policy describes: what data will be available for you to share, how to share your data, how to stop sharing your data, and how to contact us if you have any enquiries or complaints.

Download our Consumer Data Right policy (PDF)

When can I start using HSBC Australia's Open Banking services?

Publicly available information about HSBC Australia's key products (i.e. transactional, savings, credit card, mortgage products, etc.) has been made available to accredited third party participants through an online product data request service since 2 July 2020. The information made available includes details about HSBC Australia's retail banking products and the applicable rates, fees, charges and terms and conditions.

From 1 July 2021, eligible HSBC Australia customers will be able to provide authorisation to accredited third party participants to share some of their personal banking information and data, such as your account information, balances, and transaction history.

Eligibility

Customers eligible to share their data

The following HSBC Australia customers are currently eligible to share their data:

  • If you are an individual
  • If you are 18 years old or over
  • If you are registered for HSBC Online Banking

Accounts eligible to be shared

The following HSBC Australia accounts are currently eligible to be shared:

  • Open accounts only
  • Solely owned accounts only
  • Must be of the following account types:
    1. Credit Card accounts
    2. Flexi Saver Accounts
    3. Serious Saver Account
    4. Term Deposit accounts
    5. Transactional accounts
    6. Everyday Global Accounts
    7. Day to Day accounts

What type of information can be shared?

The following data is currently eligible to be shared:

  • Individual customer name and occupation
  • Account name, type and balance
  • Incoming and outgoing transaction details

Which organisations are eligible to receive data?

Data can only be shared with third party participants who are accredited by the Australian Competition and Consumer Commission (ACCC) under the CDR Legislation to receive such data. These accredited third party participants are known as Accredited Data Recipients (ADR) under the CDR Legislation.

To view a list of current ADRs, please visit the Current Providers page at ACCC.

How data sharing works

Granting data sharing authorisation

Once you have granted consent for an ADR to collect your data, you will be securely redirected to HSBC Online Banking to complete your data sharing authorisation by following these three basic steps.

log on to your HSBC online banking
select the account(s) that you would like to share
review and confirm the information you are sharing

Upon authorisation confirmation, you will be securely redirected back to the ADR and be presented with the outcome.

Stopping data sharing

Download the latest version of our Mobile App and Login and select 'Manage data sharing' to view all active data sharing arrangements. You can then follow these three basic steps to stop sharing your data.

check and select the active data sharing account(s) in the manage data sharing screen
click stop sharing in the manage data sharing screen
read the things you should know before you stop sharing and click the next action for proceed

Upon confirmation, the ADR will be notified of your data consent authorisation withdrawal and data sharing will stop immediately. You should contact your ADR to confirm the impact to receipt of your services which may arise from stopping the sharing of your data.

Are you a Developer or an ADR?

HSBC product data

Developers and ADRs can access HSBC Australia's product data via the links below using the necessary parameters defined by the CDR Data Standards and CDR Legislation:

APIs technical support

Developers and ADRs having issues accessing our Product, Banking, or Common APIs please contact us on openbankingsupport@hsbc.com using the subject line "Australia Open Banking" by completing this form.

 

Please note: Customer queries and complaints will not be responded to if received via this channel.

Customers should contact HSBC via the direct contact us.