What can landlords see with open banking?
Landlords using open banking for tenant referencing can see your bank account transaction history — typically 3 to 12 months — including income credits, regular payments, existing rent or mortgage commitments, and spending patterns. They can only access the accounts you explicitly consent to share. All open banking referencing services must use an FCA-regulated Account Information Service Provider (AISP).
Why are landlords using open banking instead of traditional references?
Traditional tenant referencing relies on employer letters, payslips, and bank statement PDFs — which can be slow to obtain and are vulnerable to fraud. Open banking-powered referencing gives letting agents and landlords a real-time, tamper-proof view of a tenant’s financial situation. It is particularly useful for verifying self-employed income, irregular earnings, or applicants without a UK credit history.
Can a landlord access my open banking data without my consent?
No — under the Payment Services Regulations 2017 and UK GDPR, a landlord or referencing agency cannot access your open banking data without your explicit, informed consent. You must actively authorise the connection, and you can revoke it at any time. Landlords cannot require you to use open banking as the sole method of referencing, though many now offer it as the primary or preferred option.
Open Banking in Practice: Open banking tenant referencing platforms operating in the UK — such as those using TrueLayer or Plaid as underlying infrastructure — must be FCA-regulated AISPs or work with one. The FCA’s Consumer Duty applies to these services. Tenants retain the right under UK GDPR to request deletion of their data once the referencing process is complete. Read more about open banking and rental referencing on openfuture.world.
FAQ
Can a landlord see my gambling or subscription spending through open banking?
Yes — transaction categories including gambling are visible if they appear in the accounts you consent to share; landlords may use this in their assessment.
How long does a landlord retain my open banking data?
Referencing agencies must state their data retention policy; under UK GDPR you can request deletion once the tenancy decision has been made.
What if I don’t want to use open banking for a rental reference?
You can request alternative referencing methods such as paper bank statements, though the landlord or agency may have their own policy on acceptance.