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Open Banking in Australia - Corporate

Securely access and share your banking information with accredited third parties

What is open banking?

Open banking aims to provide you with greater choice, access, and control over your information and the data associated with your banking products and services. This includes the ability for you to securely share some of your banking information with accredited third party participants.

It is part of the legislation known as Consumer Data Right (CDR) passed by the Australian Government.

For more information, please visit https://www.cdr.gov.au/what-is-cdr or contact us to find out more.

Our Consumer Data Rights policy

Our CDR policy describes what data will be available for you to share, how to start or stop sharing your data, and how to contact us if you have any questions or complaints.

You can read our Consumer Data Right policy here (PDF, 228KB).

Sharing your HSBC data with an accredited organisation

A delegate is someone who is authorised to share the company business data with accredited organisations. The business must choose at least one delegate before data can be shared. To qualify, a delegate must be 18 years old and have access to HSBCnet.

Here’s a snapshot of the steps involved:

  1. A system administrator (SA) must log onto HSBCnet and go to the mega menu and select User and Account Management
  2. Then the SA would select the option for user management.
  3. Choose from the list of eligible users and view permissions.
  4. Then select to edit permissions and additional banking services as shown below:
Sharing your HSBC data with an accredited organisation
  1. Click on the option for Third party provider authorisation.
  2. Nominate the access you want that user to have in place, they can have enquire, consent or revoke access.
How to share your HSBC data with an accredited organisation
  1. Once you have added the entitlements then submit that request for approval.
  2. After approval the user can then enquire, consent or revoke existing consent arrangements through the third party management dashboard.
  3. Please ensure that once you have given your consent to share your company's data that you chose the correct brand for HSBC Corporate which is:
HSBC Bank Australia Limited – Wholesale Banking
HSBC Bank Australia Limited – Wholesale Banking

*Please note – The accounts and payment information that can be shared by any entitled user is linked to the permissions they have in place for balance, statements and payments.

If a user is not entitled to view that information through HSBCnet they will not be able to share that data with the third party provider.

Please check with your system administrator to ensure you have the correct permissions in place if you are going to share data with a third party.

What account and HSBC data can you share with an accredited organisation

Deposit, Corporate Credit Card, Term deposit and Loan account balance and transaction information for the last 7 years can be shared with an accredited data recipient after consent is given.

For those accounts you can also share your scheduled payments, saved payees and direct debits that are applied to any of your accounts held with HSBC Australia.

Using the open banking framework, you can safely and securely share your data with authorised organisations. This makes it easier for you to control your consent to share and who has access to your data.

Contact Information

Telephone

1 300 300 437

Option 1: HSBCnet Maintenance

61 2 9005 8410 (International Number)

Opening Hours (excluding public holidays): Monday - Friday 9am - 7pm AEST

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Need help?

Get in touch to learn more about our banking solutions and how we can help you drive your business forwards.