What you need to know about new rules

Q Will my bank join the scheme on Saturday? A The banks joining on Saturday are Allied Irish Bank, Bank of Ireland, Barclays, Danske, HSBC, Lloyds Banking group, RBS, Santander and Nationwide. Other companies can apply to appear on the Open Banking register and will be subject to approval. Q How do I give permission for my details to be shared? A You will be asked to agree or decline when you sign up for a product or service. Companies will only request the data they need to provide their service and will describe what that data is, how long they will need it for and what they will do with it. You can revoke permission at any time. Q How do I know I can trust a company who wants to see my details? A Third parties will have to be registered with, and regulated by, the FCA or equivalent authorities of other EU countries before they can offer any service through Open Banking. Even regulated companies can still be hacked.