Account information and payment initiation services

If you download an app or use a website that displays your bank account information or makes payments for you, you should make sure the provider is authorised or registered by us.

An account information service provider (AISP) lets you see information from all your selected accounts in one place and can analyse your spending. Providers may include budgeting apps or price comparison websites that offer product recommendations.

A payment initiation service provider (PISP) lets you pay companies directly from your bank account rather than using your debit or credit card through a third-party, such as Visa or MasterCard.

Giving your consent for services

Companies can only provide account information services (AIS) and payment initiation services (PIS) if you’ve given them your explicit consent. This may be via a tick box, for example.

When you sign up for AIS, the company should give you enough information, so you fully understand:

• what the service includes
• how the company will use your data
• whether the company will share your data with anyone else

Checking AISPs and PISPs are authorised

Before signing up for any services, make sure you're confident the company is genuine. You can check our Financial Services Register[1] to find out if a firm is authorised or registered by us. 

If you're struggling to check the FS Register, call us on 0800 111 6768.

Unauthorised payments

If you see a payment from your account that you didn’t authorise, contact your bank as soon as possible and claim a refund.

You should contact your bank even if you think a PIS was used to make the payment.

Find out more about unauthorised payments from your account[4].

Making a complaint

If you think you've been treated unfairly or you're unhappy with a service you've received, you should complain directly to your provider.  

The AISP or PISP must respond to your complaint within 15 days, unless there are exceptional circumstances. 

If your complaint is about something your bank has done (for example, if it refused to refund an unauthorised payment), you should contact the bank to make a complaint.  

Find out more about how to complain[5].

How to protect yourself

• Be alert – watch out for fraud when using online payment and account services. Don’t give out your banking security details, or any other personal or financial information, if you’re not sure who you’re talking to.
• Read the details – always read the terms and conditions carefully before signing up for any financial service.
• Be data savvy – make sure you’re happy with the level of access you’re granting to your account, how your account information will be used, and who it may be passed to.
• Check your statements – keep an eye on your bank statements and get in touch with your bank as soon as possible if you don’t recognise a payment. 

Data protection

Companies that access your data must comply with data protection law.

If you're concerned about a breach of data protection law,  contact the Information Commissioner’s Office[6].