No, the use of Open Banking is entirely down to you and you are in complete control. If you want to use Open Banking, you will be asked to provide consent to a company accessing your data, specifying what they can do with this data and for how long. These companies will only be able to access account information, make payments and confirm funds once you have provided your consent to them. If you decide not to take part in Open Banking and take no action, nothing will change.
When we receive a request from a third party, we will check our records to ensure we have a valid access record from you before sending data to them.
If you do opt to use the services of a Third Party Provider, do make sure that you read the Terms and Conditions of the service to understand exactly what information they will be accessing and how they will use that information once they have access to it.