What is Open Banking?

Open Banking is a practice that allows banks and financial service providers secure access to your banking and other financial data with your consent. This information helps us make a responsible lending decision and may improve your chances of approval. If you prefer not to use Open Banking, we will not be able to proceed with your application at this time. 

As a customer, you consent to allow banks and financial service providers to view your banking information including transactional data. This allows us to better understand your financial situation and better evaluate whether PayPal Credit is affordable for you. 

All personal data passing between Tink and PayPal is pseudonymised (which means it is de-identified then validated against unique identifiers). Data that is collected by Tink is in line with their privacy policy which can be found here.

Frequently Asked Questions about Open Banking

How does it work?  Here’s a quick overview: 

• During your application, you may be asked to provide additional financial information via Open Banking to help us decide on your application. 
• You’ll be redirected to a secure page hosted by Tink, our Open Banking provider. 
• You log in with your online banking details and select the bank account(s) to share. 
• Your bank will confirm your identity and ask for your consent. 
• Once confirmed, your transaction data is securely shared with PayPal for assessment. 

What data is being looked at as part of this?  

We are looking at your transaction history in your bank accounts. 

Who will be conducting the assessment? Tink or PayPal?  

Tink will be responsible for collecting the data and sharing this with us and all assessments will be completed by PayPal.  

Can I provide multiple account information as part of Open Banking?  

No, in the Open Banking flow you will only be able to add one account which you will need to consent to in the flow.  

I went through the Open Banking experience and received a decline from you. Can you tell me why I was declined?  

Unfortunately, the data you provided via Open Banking did not show that PayPal Credit was affordable for you, so we were unable to offer it at this time. 

I don’t see my bank listed. 

Not all banks currently support Open Banking. If your bank isn’t listed, unfortunately, you won’t be able to use Open Banking for this application. 

I’m getting an error when trying to connect to my bank .

• Some banks may experience temporary issues with Open Banking. You can try again later. 
• Ensure your banking app or online banking is up to date. 
• Check if you have a strong internet connection. 

I changed my mind. How do I revoke access? 

You can withdraw your consent at any time by managing permissions in your banking app. Since your data is only shared with us at the time of application, we do not continue to access your bank details after the process is complete. 

Can you give me a copy of Tink’s terms and conditions and privacy policy? 

Learn more about Terms  & Privacy Policy .