Is Open Banking Safe? Everything You Need to Know

Yes, open banking is safe. Your banking password is never shared with us — you log in directly on your bank's secure portal, and we only receive a read-only view of your transactions. We cannot make payments, move money, or change anything on your account, and you can always upload a statement manually instead.

Is Open Banking Safe?

We understand that sharing your bank information can feel risky. Here's how open banking keeps you protected:

Your banking password is never shared with us. When you connect your bank account, you log in directly on your bank's secure portal. We only receive a read-only view of your transactions — we cannot make payments, transfer money, or change anything on your account.

The technology behind it is regulated. Open banking in South Africa follows strict security standards. The service we use, Gathr by Fincheck, is a registered financial technology provider.

You're always in control. You choose when to connect, and the connection is used only for your current application. If you're not comfortable, you can always upload a bank statement manually instead.

What data do we see?

• Your transaction history (typically the last 3 months)
• Account balances
• Income patterns (to verify your salary)

What we DON'T see:

• Your banking password or PIN
• Your card numbers
• We cannot make any transactions on your behalf

Think of it like showing someone your bank statement — except it's instant, digital, and more secure than emailing a PDF.

Learn more in What is Open Banking and Open Banking vs Uploading a Statement.