Are Open Banking checks safe?

21 Apr 2022 By PAYCEC

Open Banking checks are really safe. It's almost as safe as doing your banking online.

  • Open Banking relies on software and security systems that have been well tested. You will never be requested to give anyone other than your own bank or financial institution access to your bank login data, PINs, or passwords.
  • The Open Banking API endpoints were created by the banks and have undergone thorough testing by both the banks and a number of permitted and regulated third parties.
  • The Open Banking Directory is only open to apps and websites that are regulated by the FCA or a European National Competent Authority.
  • If an unlawful payment is made, your bank or credit union should reimburse you. Data protection regulations and the Financial Ombudsman Service also protect you.
  • You decide when, with whom, and for how long your data is shared.

Have other questions?

If you need further assistance or answer, please don't hesitate to contact us.

Have other questions?

The Media

Finextra One IBC Yahoo Finance
About us

who we are

about us

We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

We will contact you shortly.

Email Phone
Scroll top