What is TrueLayer on my bank statement?
TrueLayer on your bank statement means a payment or account connection was made through TrueLayer, a leading UK open banking infrastructure provider. TrueLayer is not a bank — it is an FCA-regulated platform that powers open banking payments and data connections for hundreds of apps and businesses. If you see it, a company you use — such as a trading platform, a lender, or a subscription service — processed a transaction through TrueLayer’s API.
What does TrueLayer do and who uses it?
TrueLayer provides the underlying open banking infrastructure that many UK fintech companies use to connect to bank accounts. Its clients include Trading 212, Freetrade, Revolut, and numerous lenders, insurers, and payment companies. TrueLayer offers two main services: data APIs (allowing apps to read your account information with your consent) and payment APIs (allowing apps to initiate bank-to-bank transfers).
Is TrueLayer safe and is it FCA-regulated?
Yes — TrueLayer is authorised and regulated by the FCA as both an AISP (Account Information Service Provider) and a PISP (Payment Initiation Service Provider). It is one of the most widely used open banking infrastructure providers in the UK. Founded in London in 2016, TrueLayer processes billions of pounds in payments annually. Your login credentials are never shared with TrueLayer — it uses secure token-based access.
Open Banking in Practice: TrueLayer is the open banking layer that sits between consumer-facing apps and UK banks. When you authorise an app — such as a trading platform or a lending service — to connect to your bank account, TrueLayer is often the technology facilitating that connection. You can revoke TrueLayer’s access at any time via your bank’s app under Connected Apps or Third Party Permissions. Read more about open banking infrastructure on openfuture.world.
FAQ
Why does TrueLayer have access to my bank account?
Because you authorised an app that uses TrueLayer as its open banking provider — the consent you gave was to that app, and TrueLayer is the regulated infrastructure behind it.
How do I remove TrueLayer’s access to my account?
Go to your bank’s app, find Connected Apps or Open Banking Permissions, and revoke access for any TrueLayer-powered connection you no longer need.
Is linking my bank account to Trading 212 via TrueLayer safe?
Yes — TrueLayer is FCA-regulated and Trading 212 uses it for deposit verification; your credentials are never shared, only a secure token is used.