Skip to main content

Open Banking

Sharing your data with accredited providers.

What is Open Banking?

Open Banking is part of the broader Consumer Data Right (CDR) legislation, introduced by the Australian Government to give consumers more control over their data and make it easier to:

  • compare products and services;
  • access new and improved services.

It enables consumers to share their data with accredited providers via a simple, easy to use and secure automated process. You can see the list of providers accredited by the ACCC by visiting the CDR website.

The CDR legislation begins with banking and will later include the energy and telecommunications sectors.

What does this mean for me as a Rural Bank customer?

On 14 December 2023 the ACCC granted an exemption under section 56GD of the Competition and Consumer Act 2010 to Bendigo and Adelaide Bank Limited. The exemption defers the start dates of the consumer data sharing obligations for our Adelaide Bank, Rural Bank and Alliance Bank brands. Rural Bank exemption is granted until 30 November 2024, and Adelaide Bank until 30 June 2024 for new and refinanced brokered customers and until 31 December 2025 for existing brokered customers and white-labelled products. 

Further details can be found in the ACCC CDR Exemptions Register

Customers of our exempted brands will be able to share their data via Open Banking soon. Customers wishing to access Open Banking data sharing beforehand can do so by opening an eligible account with Bendigo Bank or Up. Please note that only accounts held with Bendigo Bank and Up are able to share data.

Will it be safe to share my data?

Yes, there are strict rules and security protocols in place to protect your information.

  • CDR is co-regulated by the Australian Competition and Consumer Commission (ACCC) and the Office of the Australian Information Commissioner (OAIC).
  • Providers must meet strict accreditation criteria and this process is managed by the ACCC. You can find out which providers are currently accredited.

If you choose to share your data, you will have full control of the data sharing arrangement; your data won’t be shared without your consent and you will be able to stop sharing your data at any time.

What if I don’t want to share my data?

Sharing your data is entirely your choice. If you’re offered a product or service that requires you to share your data, the decision to proceed, or not, will always be yours. We’ll never share your data without your consent.

Where can I find further information?

For more information about Consumer Data Right and Open Banking please visit the Australian Government's CDR website.

From 1 July 2022 we will provide further details on how you can share your Rural Bank data. If you wish to discuss access to Open Banking prior to 1 July 2022  please contact us on 1300 660 115.

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Rural Bank - A Division of Bendigo and Adelaide Bank Limited
© Copyright 2024 Rural Bank | ABN 11 068 049 178 | AFSL/Australian Credit Licence 237879