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Open Banking Banks: How to Connect Them?

Important Security Requirement: Due to Open Banking regulations, the connection between Companio and bank accounts lasts only for 90 days. As a result, every 90 days, you will receive a notification prompting you to reconnect your bank account. This requirement is essential, as it aligns with our commitment to security and exceptional service quality.

This article is useful for Open Banking solutions such as Revolut Business, LHV, Stripe, or Paypal. If you need to connect a payment gateway such as Mollie with an API key, visit this FAQ. If you need to upload bank statements manually, check this FAQ

These are the steps to follow:

Go to the "Banks" section and select your bank. If it is the first time you connect it, it will appear as "unlinked."

You'll see a message like this, which says that Companio is requesting access to your bank account:

We always ask for read-only privileges, not writing. This means that in the event of an attack, the attackers would not be able to do any transfers. We work daily to ensure that our systems are always up to date and implement the best possible protection against attacks.

It will redirect you to your bank account.

You have to enter your access data into your bank account.

To verify that it is you, you must open your mobile app and confirm it.

Finally, you will see a message like the one below saying that Nordigen is requesting permission to access your account. Nordigen is a solution that allows banks to access your data. You can find a list of all the banks that can be connected here. You must click on the button that says "authorize," as it appears in this image:

Now check that your bank appears as "linked", just like the image of step 1.

Updated on: 28/11/2023

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