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Open Banking allows you to take control of your banking data and share it securely with accredited organisations. It was introduced by the Australian Government under legislation called the Consumer Data Right (CDR).
Open Banking allows you to take control of your banking data and share it securely with accredited organisations. It was introduced by the Australian Government under legislation called the Consumer Data Right (CDR).
You can choose to share some of your banking data with accredited organisations so they can provide you with an appropriate product or service. You could share your banking data with other organisations for services such as product comparison, tailored product recommendations, finding the best deal on your banking services, budgeting, consolidation of your accounts, and other services.
A list of all the accredited organisations is available on the Australian Government’s CDR website here.
You can choose which data you want to share, and how long you want to share it for (e.g. for 3 months, 6 months, or up to 12 months).
Client Data (upon your consent)
Rabobank also makes available to anyone our standardised product data, to facilitate services such as market-wide product comparisons.
Product Data (publicly available)
Data sharing is currently available for Farm Business (Rural Banking) clients and Rabobank Online Savings clients who meet the Open Banking eligibility criteria.
Individuals, sole traders and joint account holders
To be eligible for data sharing, individuals, sole traders and joint account holders must:
In addition, to be eligible to share account information and transaction details from a joint account:
Secondary users associated with individual, sole trader and joint accounts (Farm Business only)
Eligible Farm Business clients who are individuals, sole traders or joint account holders can choose another person (such as an authorised signatory) as a ‘secondary user’ to manage data sharing on their behalf. To be eligible, this ‘secondary user’ must:
Entities such as partnerships, companies and trusts
Entities such as partnerships, companies and trusts can nominate representatives to manage data sharing on their behalf. To be eligible for data sharing, these entities must have at least one eligible account with Rabobank that is open and accessible through Internet Banking. To be eligible to share data on behalf of these entities, the representatives must:
If eligible, you can share your name, contact details, payees, account information (such as balance, direct debits and scheduled payments) and transaction history for these products:
If eligible, you can share your name, contact details, account information (such as scheduled payments), and transaction history for these Rabobank Online Savings accounts:
You’ll need to have a valid mobile phone number linked to your Rabobank account. This is required to authenticate with a one-time password. If you don’t already have this, you’ll need to update your contact details first.
You’ll need to be registered for Internet Banking for the product/s you would like to share data from. If you’re not currently registered, you’ll need to do this before proceeding. To find out how to register for Internet Banking, click here.
Provide your consent on the website or app of the accredited organisation you want to share your banking data with. You need to select the banking data you would like to share, and the period of time you would like to share it for (e.g. for 3 months, 6 months, or up to 12 months). Select “Rabobank” to continue the data sharing consent process with Rabobank.
You’ll then be redirected to Rabobank so that you can authorise and set up data sharing in just a few steps as outlined below.
Joint accounts are already enabled for data sharing and you won’t need approval from other account holders to set up data sharing arrangements with accredited organisations (unless you or any other account holder disabled your account for data sharing – learn more here).
You can change your data sharing preferences or stop a data sharing arrangement at any time. If you choose to disable your account for data sharing, then you and all other account holders will need to agree to re-enable it.
To re-enable data sharing:
Farm Business clients who are individuals, sole traders and joint account holders can choose another person (such as an authorised signatory) as a ‘secondary user’ to manage data sharing on their behalf. Your secondary user will be able to set up data sharing arrangements with accredited organisations without further approval, and you’ll be able to stop them from sharing your account information at any time.
To set up a data sharing secondary user:
For assistance please contact us.
You can view details or stop sharing by:
For joint account holders, you can also:
For Farm Business clients who are individuals, sole traders and joint account holders, you can also:
Our CDR policy provides information about how Rabobank manages data under the CDR. It describes how you can access and correct your CDR data, as well as how you can make a complaint about how we handle your CDR data.
Click here to find Rabobank’s Open Banking APIs (Application Programming Interfaces).
For a detailed summary of the current implementation gaps, please refer to the table below:
| Product Line | Issue | Expected Resolution Date |
|---|---|---|
For further details and the latest updates on Rabobank’s implementation gaps, please check the ACCC CDR rectification schedule (under the section Banking-non-major Data Holders, for Rabobank).
