Who provides these services and what are third party providers (TPPs)?

There are two types of authorised third party provider (TPP):

Account Information Service Providers (AISPs)– Also known as aggregators, these are companies that allow you to see a consolidated view of your different financial accounts (e.g. money management tools).
Payment Initiation Service Providers (PISPs) – Companies that can initiate payments from your online payment account on your behalf (e.g. an alternative to using your card to make a payment online).
These services may be offered by new apps, or even from larger financial service providers. In January 2018, these services became regulated by the Financial Conduct Authority (FCA). You need to be registered for online banking to use TPP services.

Authorised TPPs can access your account in one of two ways:

  1. Via Open Banking, you can use your Tesco Bank Online Banking log in to give TPPs permission to access one or more of your accounts. You remain in control of what they see; or
  2. Allow the TPP to use your online banking security details on your behalf. Remember if you share your security details with an authorised TPP they will be able to see all accounts that appear in your online banking.


You should always ensure that a company is authorised by the FCA, or another European Regulator , to provide these services.

You should also do your own research to ensure you are comfortable that the TPP is legitimate.

The TPP should explain what services it is providing you and how it will use your data. You will need to give explicit consent for the TPP to act on your behalf as we’ll treat any instruction from it as an instruction from you.
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