Is FreeAgent Right for me?

[Maslins]

FreeAgent rules !!!!

NatWest give it free

Yes...but in the same way Google/Facebook give you lots for free. If you're not overly bothered about privacy, fill your boots...but you are basically giving your bank full access to everything on your FreeAgent account.

[Alan @ BroomeAffinity]

FreeAgent rules !!!!

NatWest give it free

If you’re not the customer, you’re the product.

[tarbera]

Yes...but in the same way Google/Facebook give you lots for free. If you're not overly bothered about privacy, fill your boots...but you are basically giving your bank full access to everything on your FreeAgent account.

Not in a million years, the data is pulled, your bank has zero access to your FreeAgent account else bank would fail dpa, open banking (aisp) and gdpr regs come may this year.

[SuperLooper]

Yes...but in the same way Google/Facebook give you lots for free. If you're not overly bothered about privacy, fill your boots...but you are basically giving your bank full access to everything on your FreeAgent account.

You've got this completely back to front.

[Alan @ BroomeAffinity]

https://www.business.rbs.co.uk/busin...ree-agent.html

"Currently free to Royal Bank of Scotland customers, and to qualify you need to agree to share your FreeAgent information with Royal Bank of Scotland. Read more and give your permission on the sign up page."

[SuperLooper]

OK, Maslins was right. Apologies!

That FA data-sharing is a big surprise to me.

[Lance]

Not in a million years, the data is pulled, your bank has zero access to your FreeAgent account else bank would fail dpa, open banking (aisp) and gdpr regs come may this year.

how so?
It's a business bank account, with a business accounting tool. DPA and GDPR apply mostly to personal data.

And on Gnat West's website it says "The service is currently free to NatWest customers if you agree to share your FreeAgent information with NatWest".

[Darren at Fox-Bartfield]

Freeagent

will you give me £100 if he come to you?

May do

[l35kee]

Not in a million years, the data is pulled, your bank has zero access to your FreeAgent account else bank would fail dpa, open banking (aisp) and gdpr regs come may this year.

If you use the normal auto downloading of transactions. But not if you get FreeAgent for free. These are the NatWest conditions, I imagine it's much the same with RBS, I can't confirm because they make getting to the actual T&Cs very difficult... hmm...

By agreeing to the following terms and conditions, you agree to share your FreeAgent account data with NatWest who may use this to provide them with additional insight into any borrowing applications you may make in the future, provide them with additional insight into the ongoing maintenance of any credit facilities you may have now or in the future as well as identify certain products and services which may be of interest to you, unless you have asked them not to.

To be clear, the data that will be shared could extend to information about your business, accounting ledger balances and transactions as well as other financial information and transaction details, including bank transaction information from bank accounts held with banks other than NatWest. This data will exclude any personal data belonging to any third parties, such as customer and supplier names and addresses.

[malvolio]

If you use the normal auto downloading of transactions. But not if you get FreeAgent for free. These are the NatWest conditions, I imagine it's much the same with RBS, I can't confirm because they make getting to the actual T&Cs very difficult... hmm...

And HSBC don't say anything about it one way or the other...

On the other hand, these are business accounts and effectively in the public domain anyway*, so I don't see the problem.



*As in you have to disclose account name and number and sort code to get paid, and your name and business address are easily found from half a dozen sources already...