What Is Open Banking?
Open Banking is a secure and safe way of enabling HSSCU to access your current account statements, if required as part of the loan application process with HSSCU. As part of the loan application process you will be given the option to provide access to your bank statements. This can only be done with your express permission.
Access to your recent current account statements will enable the Lending team to assess your loan application more efficiently and speedily and eliminates the need for you to chase bank statements and email them to HSSCU.
How Does It Work?
When you apply for a loan with us, you will be given an option to provide your bank statement to us electronically. This is done via an intermediary service called CRIF Realtime. To use this service, an email will be sent directly to you, during our phone call with you, seeking permission to access your bank account’s transactions.
To approve access to your account transactions you will be required to follow the link in the email and to select the bank you hold your current account in. You will be required to authenticate the process to access your bank account transactions by entering your banking online credentials or to approve the request in your banking app.
Once this is completed CRIF Realtime will send HSSCU the requested bank statements on your current account. This removes the requirement for you to source your bank statement directly and helps us to reduce the time taken to process an application.
At no point do we ever see or have access to your banking passwords. Health Services Staffs Union cannot in any way affect your bank account.
Member Account Security
We take our members account security seriously and HSSCU will never do any of the following:
- Send you a text or email with a link directly to the login page of our online services.
- Send you a text or email with a direct link to your latest e-Statement.
- Ask you to click a link in an email with an urgent warning about suspicious activity on your account.
- Ask you to share or send us your full online services details.
- Ask you to transfer money out of your account to protect yourself from fraud.
- Request your account information through an onscreen pop-up window.
- Call you to ask you to make a payment to another account.
- Ask you to tell us any ‘one-time password’ or code that you have received from us by text.
