August works directly with your bank using a technology called Open banking. This allows you to securely link the account where you receive rent. This lets August:
See the moment rent lands in your account
Assign transactions to the correct tenancy immediately
Notify you when you're paid, no chasing, no checking
Your security guaranteed:
We have read-only access—we can never access or move your money
Cancel the connection anytime (it also expires automatically after 90 days)
Explained simply - Imagine August has a window view into your account, it can only see in, never touch. The moment rent arrives, we see that match it to the right tenancy using the payment reference, amount, date, and timing. All automatic. Zero manual work.
Understanding the technology
What Open-banking is, how it works and more.
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Open Banking is a government-backed scheme that lets you securely share your transaction data with companies you trust. It's regulated by the FCA and built into every UK bank. It's used for everything from qualifying for credit cards to budgeting app, and it's what allows August to connect to your bank.
Plaid is the company that makes the secure connection between August and your bank. They're a trusted technology partner used by millions of people in apps like Monzo and Revolut. Plaid encrypts everything and never stores your banking password.
Here's what happens: You give August permission to connect. Plaid creates a secure, read-only link to your bank. Your bank sends transaction details through Plaid to August. August uses this to track rent automatically. Nobody, not August, not Plaid can ever move your money or make payments.
August is an agent of Plaid Financial Ltd, an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (firm Reference Number: 804718).
✓ FCA Regulated | ✓ Bank-Level Encryption | ✓ Read-Only Access | ✓ 99% of UK Banks Supported