Your browser is out of date. From Thu 28 April 2022, the Great Southern Bank website will not support your current browser, and you may have a degraded experience or be unable to connect. Update your browser to secure your online experience.

Search
Close
ABOUT

What is Open Banking

In 2019, the Australian Government passed the Consumer Data Right (CDR) legislation, which is often referred to by the banking industry as Open Banking.

Open Banking aims to provide greater choice and control for Australians over how their data is used and disclosed. It will allow consumers to access their banking information in a usable form by directly transferring that information to an accredited data recipient.

CDR

Consumer Data Right Policy

Our Consumer Data Right (CDR) Policy contains more information on the Consumer Data Right, including how to access or correct your information, how to make a complaint and how we manage complaints.

Consumer Data Right Policy
Get started today
Learn how to share your data
Find out more
FAQS

Open Banking explained

For more information on Open Banking you can call us on 133 282.

Do I have to share my bank data?

To share your personal data via Open Banking is entirely your choice. We will never share your personal data without your consent. If you have a joint account, then any joint account holder can share your joint account data, though you will be notified if they do and you have a choice to disable data sharing at any time for any of your joint accounts.

Who can share data?

To be eligible for Open Banking data sharing, you:

  • Must be at least 18 years old
  • Are registered for Digital Banking and have an up-to-date mobile number
  • Must have an open and eligible account

Business accounts held by sole traders, companies and trusts, including self managed super funds are currently not available.

What data will I be able to share?

You will be able to share data such as:

  • Your details, such as your name, addresses and contact details
  • Account Details such as Name, Number, Type, Balances and Features
  • Transaction Details such as Amounts, Dates and Description of transactions
  • Direct Debits and Scheduled Payments
Data sharing via Open Banking is enabled for savings, transaction, credit cards, term deposit, home loan, personal loan, business loan, overdraft accounts including joint accounts that you hold with Great Southern Bank. Business accounts held by sole traders, companies and trusts, including self managed super funds are currently not available. Supplementary Credit Card holders are currently not able to access Open Banking data sharing.
Is data sharing secure?

Great Southern Bank is committed to ensuring that your data is safe and sharing your data via Open Banking is no exception. Your data can only be shared with your explicit consent and with data recipients that are accredited by the Australian Competition and Consumer Commission (ACCC). Data recipients must comply with strict privacy and security requirements in order to become accredited.

Who will I be able to share my data with?

Data sharing is only possible with Accredited Data Recipients.

View the list of Accredited Data Recipients

How does data sharing work?

To share your Great Southern Bank data with an accredited data recipient:

  • The first step is to provide your explicit consent via the accredited data recipient to share your Great Southern Bank data
  • After receiving your request we will ask you to confirm your identity by using your Customer Number, the last 4 digits of your mobile number, and by entering a one-time password that will be sent to your mobile phone
  • You can then review the details of the request for the data to be shared and how long it will be shared for
  • And ‘consent’ to commence data sharing with the accredited data recipient
Once I’ve consented to share my data, can I make changes to my consent arrangements?

Changes to your consent arrangements can be made at any time through the accredited data recipient. You cannot make changes to your consent arrangements through Great Southern Bank. Examples of changes that you may wish to make to your consent arrangements are:

  • Duration
  • Frequency
  • Accounts
Once I’ve consented to sharing my data, can I withdraw my consent?

You can withdraw your consent at anytime through online banking with Great Southern Bank.

Are there any fees charged to enable data sharing via Open Banking?

Great Southern Bank does not charge fees to enable data sharing via Open Banking.

Where can I go for more information?

For more information on the Consumer Data Right, please refer to www.cdr.gov.au

For more information about Open Banking at Great Southern Bank, you can call us on 133 282.