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Data sharing and business accounts

When you need to share your business banking data with trusted third parties, it should be easy, secure, and completely in your control. Thanks to the Consumer Data Right (CDR), businesses can securely share their financial data with accredited data recipients – making it easier to link accounting software, streamline reporting, and operate more efficiently.

Why share your business banking data?

Sharing your business banking data can help you:

Automate financial processes

Sync transactions with accounting software.

Improve financial insights

Get better reporting and analytics.

Simplify collaborations

Allow accountants or business partners to access relevant financial information.

Getting started with data sharing on your business accounts

To enable data sharing:

  • The primary business contact must contact us to nominate an eligible business representative.
  • Once authorised, this representative will have permission to share your business account data with an accredited third party.

It’s easy to share your business account data safely and on your terms. Whether you're connecting apps or streamlining admin, you're in control every step of the way.

How to share your business account data

1. Choose an accredited organisation
You can find a list of accredited data recipients (ADR) on the CDR register.

2. Initiate a sharing request
Start the process through the provider’s website or app. The ADR will guide you through the consent process.

3. Review and confirm
Approve what data will be shared and for how long, ensuring compliance with CDR guidelines.

If you’re a secondary user (i.e. you have transactional access to someone else’s account) and meet the (CDR) eligibility criteria, you can choose to share data from that account without needing to be nominated.

When a secondary user initiates a data sharing arrangement, all account owners will be notified by email – provided they’ve enabled email notifications in their internet banking preferences.

How to get started

1. Log in to internet banking
Access your account online to begin the data sharing process.

2. Go to Services > Data Sharing
This is where you’ll manage your data sharing permissions.

3. Follow the prompts
You’ll be guided through the steps to consent to share data from the accounts you have access to.

Frequently asked questions

The nominated representative of your business accounts can share data with any accredited data recipient (ADR).

Permissions can be reviewed, modified, or revoked at any time through internet banking.

Please note that changes cannot be made via the BCU Bank app.

A nominated representative is a designated individual authorised to manage, amend, and approve data-sharing requests for your business account under the Consumer Data Right framework. They help ensure your business data is shared securely and in line with regulatory requirements.

The primary business contact must request for the nominated representative to be changed by contacting us directly.

Once changed, any data-sharing arrangements set up by the previous representative will be immediately revoked. The newly appointed representative will then need to set up fresh authorisations before data sharing can resume.

Yes. Open Banking follows strict security standards, including encryption and regulatory oversight, to ensure data protection.

Yes – you can choose which business accounts to share and how long they can be shared.

You can withdraw your consent to share your data at any time through internet banking.

How to withdraw your consent for data sharing:

  1. Log in to internet banking and go to Services > Sharing. You’ll see a list of your current and past data sharing arrangements.
  2. Find the agreement you want to cancel and select Sharing.
  3. Scroll to the bottom and select Withdraw.

If the account is in joint names, a notification will be sent to the joint account holder to let them know the arrangement has been withdrawn.

Things to note about joint accounts:

  • Either joint account holder can withdraw a data sharing arrangement.
  • If the person who originally set up the sharing arrangement withdraws consent, all accounts covered by that arrangement (including individual accounts) will be affected.
  • If another joint account holder withdraws consent, only their joint account will be removed from the arrangement.

If you have any questions or need help, give us a call on 1300 228 228.