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Open Banking

Banks within Australia are making it easy for customers to share bank data with trusted, accredited organisations.

Choose how the interest is paid

Interest payment options depend on your Term Deposit term

What's Open Banking?

Put simply…Open Banking allows customers to grant permission for their banking data to be shared from one organisation to another.

Through Open Banking, Australian consumers already have access to Suncorp Bank’s product information, helping them get the best deal.

Now we’re launching consumer data sharing, which will improve your ability to compare and switch between products and services and access more tailored, personalised financial services.

This is known as the ‘Consumer Data Right’ or CDR. It’s how the Government describes the rules they’ve put in place to ensure consumers’ right to access and share their data.

Suncorp Bank has been working with regulators, consumer groups and others to make this happen. As of November 1, 2021, Suncorp Bank customers can share their individual deposit and lending account data with authorised third parties.

Suncorp Bank’s Consumer Data Right policy

This policy describes what data will be available for you to share, how we manage your data, and how to correct your CDR data or make a complaint, if needed.

Download our Consumer Data Right policy (PDF).

Watch the video below to learn about:

  • how Open Banking puts you in control of your bank data
  • how you choose what data is shared, who will be able to access it and for how long
  • how you can manage and withdraw your data sharing consent.

Frequently asked questions

Look out for more information from Suncorp Bank to come

We’re excited about the promise of Open Banking and we’re working on ways we can help you make the most of these changes.

As new data sharing opportunities and capabilities emerge, we’ll let you know how you can benefit from them. We’ll update this page as they become available.