Franks accepts payment through Open Banking. Open Banking is a payment service through which you can directly pay via your own bank account. When you have online banking or mobile banking for your current bank acount, you are eligible to use Open Banking.
What is it?
Open Banking is a government regulated service through which you can share information in a secure way. This allows us to offer you a smooth and secure payment option. We understand it might seem scary to getting so personal with us. When you give your consent, we will be able to make it possible for you to easily pay for the products you love.
Why should I use it?
The conservative way is to solely give your bank insights. However, the nine largest UK retail banks and building societies - Barclays plc, Lloyds Banking Group plc, Santander, Danskebank, HSBC, RBS, BoI, Nationwide and AIBG - have a legal requirement to allow certain information to be shared securely online with other regulated companies through Open Banking. Other banks and building societies can voluntarily do the same. Open Banking is standardising the APIs that banks and building societies use to make payments and access information. All company apps and websites will be able to ‘talk to’ banks using a common approach.
How does it work?
Please remember, you are always in control. When you opt for Open Banking during checkout, you will be asked to give consent to us to access your data. You can always choose for how long you will share your data and what we can do with your data. We will not do anything without your consent. Once you’ve given us explicit consent to share your information, you will be redirected to your own bank or building society’s login page, where you’ll enter your login details directly. This allows you to authorise your bank or building society to share your data securely with us. You can link your contact details of your bank account with us, giving Frank the same insights. This way, we enable you to smoothly and easily pay for your order whilst having up to date insights in your own finances.