The short version
Open banking is a set of rules that lets you share your bank data with other services, if you choose to. In Europe these rules come from a law called PSD2.
Instead of giving an app your login, you sign in at your own bank and say what the app may see. The bank then shares that data securely.
What you control
You decide what is shared and for how long.
- You sign in only at your own bank.
- You choose which accounts to share.
- Access can be read-only, so an app can look but not pay.
- You can stop sharing at any time.
How Wollie uses it
Wollie uses a read-only link. It can see your payments to sort them and compare them to your budget. It cannot make a payment or move your money. Which banks work depends on your country, so check the list on the Wollie home page before you connect.
Questions
Is open banking safe?
It is designed so you never share your bank password with the app. You sign in at your bank and choose what to share.
Can an app move my money through open banking?
Only if you give permission for payments. Wollie asks only for read-only access and cannot move money.
This guide is general information, not financial advice.