Open banking is designed to give you more access and control over the data your bank holds about you.

It’s result of legislation passed by the Australian Government, called the Consumer Data Right (CDR), which enables you to securely share your banking data, to increase competition amongst financial providers and ensure you get the right products that suit you best.

ME will only ever share the data you request.

Benefits of open banking?

Open banking will make it easier for you to compare products between financial institutions and make more informed decisions.

You may wish to share your ME banking data with a third-party data recipient for the purpose of budgeting and financial management. Either way, you’ll have full control over what information ME and other banks will have access to.

When will customers be able to share their ME banking data?

ME has been granted an exemption by the ACCC from our consumer data sharing obligations until 1 July 2022.

This means that you will be able to share your ME banking data with third party accredited data recipients by 1 July 2022. 

Is my data secure?

By banking with ME, you put your trust in us – and that’s not something we take lightly. ME is committed to protecting your information. We have strict privacy and security requirements for accessing, sharing and storing information to ensure your data remains safe.

You will be in full control of which data you share, with who and for how long. You can also cancel any data sharing arrangement you have previously set up at any time.

Are you a software developer?

If you’re a developer, visit our Developer Portal for more information about ME’s API’s available under Open Banking.


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