‘Linking Accounts’ is a new feature we’re introducing to help you see your finances in real time, so you won’t need to wait a month to see changes to your balances. You’ll see all of your financial accounts in one place, helping you track your spending across accounts at any time.
The idea is that you should be able to ask your bank, building society or other financial provider to share your personal transaction and spending data with other banks and with regulated third-party providers.
Instead of your bank keeping your data, as they’ve mostly done up until now, you’ll have a choice to share it with other companies – such as other banks, lenders or financial apps - for your own benefit.
Essentially, it means that you own your data (rather than your bank) and can share it with the companies you choose to.
For more information on what exactly Open Banking is, see our Learn article on our website here.
Please note, if you link an account through ClearScore, this information will not appear in your credit report (provided to us by Equifax).