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Data Sharing Arrangements using Open Banking

What is Open Banking?

Open Banking is the Consumer Data Right as applied to the banking industry. The Consumer Data Right was introduced by the Australian Government to give you greater control of your data.

You can choose to share your ANZ data with third parties accredited by the Australian Government (known as Accredited Data Recipients) that must meet strict requirements to receive data.

Who is eligible to take part in Open Banking?

ANZ customers can share their data with Accredited Data Recipients when they meet the customer and account eligibility criteria below.

Customers must meet all customer eligibility criteria below:

  • Must be 18 years old or over
  • Must have a valid mobile phone number (required to support authentication using a One-Time Password)
  • Must own at least one publicly offered banking product which is accessible online.

Open Banking is available through ANZ's primary retail channel (i.e. ANZ Internet Banking and/or ANZ App). If you’re an eligible customer but don’t have access to Internet Banking or the ANZ App, please contact us to see how we can help you access Open Banking.

To share your data for an account, the account must meet the eligibility criteria below:

  • It must be either an open account, or an account that has been closed within the last 24 months
  • It must be accessible on ANZ Internet Banking or ANZ App
  • It must be one of the following:
    • Credit card account
    • Debit card account
    • Deposit account
    • Transaction account
    • Mortgage account
    • Mortgage offset account 
    • Personal loan account
    • Business finance account
    • Trust account
    • Farm management account
    • Retirement savings account
    • An account with a line of credit, overdraft or deemed rate
  • For solely owned accounts, it must be an account in the name of the customer (for business accounts, this is the sole trader)
  • For joint accounts:
    • It must have two owners
    • The customer must be a co-owner of the account (for business accounts, this is a partnership), or be a trustee of the account
    • Data sharing must be enabled. 

Please refer to: How do I enable data sharing for my joint accounts?

Please note: if you are attempting to share your account data, and one or more of your ANZ accounts is not available, this may indicate that you, your joint account holder, or the account(s) do not meet the eligibility criteria, or you or your joint account holder have not enabled data sharing on the account.

Who can I share my banking data with?

Data sharing is only possible with third parties accredited by the Australian Government.

You can view the growing list of Accredited Data Recipients on the cdr.gov.au site here.

What ANZ data can I share?

You can share your customer data, account data, and transaction data held by ANZ. This also includes your payees, direct debits, and scheduled payments.

Direct debits are regular payments from your account where you have given your BSB and account number to a merchant or service provider to debit your account when they provide a service to you. ANZ also includes recurring payments from your credit card account, where you have provided your card number and expiry date to a merchant or service provider to debit your account, when a service is provided to you.

Scheduled payments are payments to third parties and/or funds transfers scheduled by you in ANZ’s internet banking channel.

Is Open Banking secure?

Yes. Customer data security is important to ANZ and all requests to access your data must be initiated by you, through a secure environment. ANZ cannot do this on your behalf. Additonally, Accredited Data Recipients you choose to receive your data must comply with strict privacy and security standards in order to become accredited.

ANZ will never ask you to share your Customer Reference Number (CRN) or password with Accredited Data Recipients requesting data using Open Banking. 

Am I automatically opted in to Open Banking?

No – it’s always your choice. The decision to use, or not to use Open Banking, is yours.

How can I start sharing my data?

To start sharing data, you must initiate the process from the website or app of the Accredited Data Recipient you want to access your data. During the process, you will be redirected to ANZ so we can authenticate you and prompt you to authorise ANZ to share your data with the Accredited Data Recipient.

Can I stop sharing my data?

Yes, you can choose to stop sharing data with an Accredited Data Recipient at any time. You can do this using the Accredited Data Recipient’s service, ANZ App or Internet Banking.

View detailed step-by-step instructions here.

Data sharing for joint accounts

Before sharing data with an Accredited Data Recipient for your joint account, both you and the other joint account holder will need to ‘Allow data sharing’ on your joint account(s).

There are two key parts to successfully sharing data for joint accounts:

Part 1  details how to allow data sharing on a joint account.

Part 2  details how to share data with the Accredited Data Recipient once a joint account has been enabled for data sharing.

  1. Access your profile, then select ‘Profile & Security’.
  2. Navigate down to ‘Manage your data’ and select ‘Data sharing’.
  3. Under ‘Data sharing’ select ‘Joint account permissions’.
  4. Select the account you would like to enable data sharing on. 
  5. Under ‘Your preference’ select ‘Allow data sharing’ and then ‘I agree’ on the pop-up box.
  6. ‘Your preference’ will now show that ‘Allow data sharing’ is currently selected. As long as you and the other joint account holder have both completed Part 1, you can move onto the next section, Part 2.
 

Now that the joint account(s) are allowing data sharing, you can start the process of setting up a data sharing arrangement.

  1. Head to your chosen Accredited Data Recipient and start the process of creating a data sharing arrangement.
  2. Once you are redirected back to ANZ, complete the authentication process.
  3. When you arrive at the ‘Select accounts’ screen, you’ll now see that your joint accounts appear under ‘Eligible accounts’. You can select them and click ‘Continue’ to be taken to the ‘Review and confirm’ page.
  4. On the ‘Review and confirm’ page you can see all the details and what types of data will be shared for the data sharing arrangement. Click the ‘Confirm data sharing’ button at the bottom of the page if you wish to complete the setup.
  5. Once you have confirmed data sharing, ANZ will then securely transfer you back to the Accredited Data Recipient. Your ANZ accounts should now be available to the Accredited Data Recipient.

Can I access ANZ’s Product Data?

If you are a developer, Open Banking allows you to access data about ANZ’s products currently offered to the market, using Application Programming Interfaces (APIs). These product APIs can be found here.

Where can I go for further information?

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

Details about ANZ’s Consumer Data Right Policy can be found here.

Step-by-step instructions on performing Open Banking tasks in ANZ Internet Banking or App can be found here.

If you are experiencing any issues, or have any concerns, please contact us on 13 13 14. 

We're updating ANZ's Internet Banking for Business platform and ANZ's business Electronic Banking Conditions of Use. Visit here for more details. 

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