Open Banking Consent Scam
In this scam, a fake app or service asks you to connect your bank via open banking for a 'budget', 'refund', or 'loan check', then uses the granted access to view your data or initiate payments.
Quick verdict
What this scam usually looks like
In this scam, a fake app or service asks you to connect your bank via open banking for a 'budget', 'refund', or 'loan check', then uses the granted access to view your data or initiate payments.
Example message pattern
This is a fictional, anonymised example used to illustrate the pattern. It is not a verified real message, and any names are used only to show how the scam typically reads.
Red flags to watch for
- A request to connect your bank to an unfamiliar app
- Access sought to claim a refund or 'check' something
- An app you cannot verify as regulated
- Pressure to connect quickly
- Broad permissions including initiating payments
What to do
- Only grant open banking access to verified, regulated apps you trust
- Review and revoke account access you do not recognise in your banking app
- Be cautious of refund or loan lures asking for bank access
- Report suspicious apps to your bank and regulator
If you already clicked or replied
- Revoke the app's access in your banking app immediately
- Change your online banking password from a trusted device
- Review transactions and report anything unfamiliar
- Contact your bank if payments were initiated
What not to do
- Do not connect your bank to unverified apps
- Do not grant access to claim a refund or prize
- Do not ignore unfamiliar connected apps
Similar scams
Fake Banking App Scam
A counterfeit banking or finance app, often spread through an unofficial app store, an advert or a link, mimics a real bank to capture your login and one-time codes. Some fakes are designed to harvest credentials directly, while others install malware that intercepts your genuine banking. Once attackers have your login and codes, they may attempt to access your real account.
Loan App Scam
In this scam, an instant-loan app offers quick cash with no checks, then demands excessive access to your contacts and photos, charges hidden fees and extreme interest, and harasses or blackmails you over repayments.
PayPal Payment Pending Scam
This scam shows a fake 'payment on hold' message claiming funds will be released once you ship an item or confirm details, but no real payment exists.
Frequently asked questions
What is open banking consent fraud?
How do I check what has access?
I connected a suspicious app. What now?
Is open banking itself safe?
Last reviewed: June 2026