What do I have to do to use these new services?

To use these new services you will have to give your permission for an authorised TPP to access your account(s).

There are two ways you can use these new services:

  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.

Before you share your details, you should always ensure that the TPP is authorised by the FCA, or another European regulator, to provide these services and you should also do your own research to ensure you are comfortable that the TPP is legitimate. This is because TPPs not authorised by the FCA, or fraudsters pretending to be an authorised TPP, may ask for your online banking credentials in order to gain access to your bank account.

For further information on how to keep your accounts secure, visit tescobank.com/security, or takefive-stopfraud.org.uk.
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