Border Bank is concerned about the growing number of online and other businesses that encourage or require consumers to disclose their banking login details, PIN numbers or passwords in order to access their services.
These include online lenders and pay day lenders, as well as money management apps, bank statement retrieval services and other account aggregation businesses offering to help consumers and small businesses to organise and analyse their finances, set up budgets, and compare financial products.
Under the Terms & Conditions for our products and services, you are not permitted to disclose banking login credentials and other secret passcodes to any third party without our specific authorisation.
Remember, your banking login credentials, PINs and passwords are literally the key to your accounts – anyone with these can access and transfer your funds.
If you give your credentials to any third party without our authorisation and, because of this, there is a security compromise resulting in the unauthorised transfer of funds from your account, Border Bank will generally not be liable for the loss.
In all likelihood, you as the account holder will be.
Don’t be misled! Border Bank has not authorised any aggregation service to act on its behalf. While some services may say Border Bank is “supported” by the service, and may even use our logo on their website, we have no arrangements or affiliations with any aggregation service.