In short, no.
But this is a new process for a lot of our customers, so we appreciate you might be concerned. We can give you a bit of background on this which will, hopefully, put your mind at ease.
This process is down to new smart technology.
Fraud is a big problem in the insurance world. And companies often increase their prices to make up for the money they lose because of it. By verifying some of your details using this new technology, we’re able to avoid those losses upfront, and save you money straight away.
The check is completely secure. It’s carried out by our external partner, Plaid, who is authorised and regulated by the Financial Conduct Authority (as are we). And the same process is used and trusted by global financial services like Monzo and Transferwise. We can only see the information you agree to share with us. We definitely won't have access to your funds, and we won’t be able to see your passwords.
The information will be used to:
We really hope our customers value the savings they make as a result of this process but if you choose not to continue we completely understand - we know it doesn't suit everyone.
Please click here https://www.openbanking.org.uk/faqs/ if you'd still like to find out more about this new technology.