Require FCA-regulated Open Banking providers to offer personal-use data-access

Background

Open Banking rules let banks share account data with FCA-authorised companies, but most only offer this to businesses, not individuals. We ask the Government to require FCA-authorised Account Information Service Providers to offer an Applicant Programming Interface (API) for personal-use tier.

Additional details

Open Banking regulation was meant to give consumers control of their own financial data, but live access is provided to business only, often requiring £100+/month with Know Your Customer (KYC) checks individuals cannot meet. Some banks offer no personal API at all, even to premium customers. We believe this stops ordinary people using their own data-access rights for personal budgeting or tracking tools. We want FCA-authorised providers to be required to offer low-barrier (i.e. cost) API access for individuals, separate from business pricing.

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