CDR Accredited Data Recipients Explained

An Accredited Data Recipient is a business accredited to receive Consumer Data Right data.

The official CDR provider page says people can use that section of the site to find providers accredited to offer services under CDR, see providers set up to share data, and view CDR representative arrangements.

The OAIC says accredited businesses must meet strict requirements for data collection, use and storage, information security, protecting privacy, and obtaining consent.

Where CDR representatives fit

A CDR representative arrangement allows a non-accredited business (a CDR representative) to provide CDR goods or services directly to a consumer through a written contract with an unrestricted accredited person (a CDR principal). Under this model the principal is liable to the consumer for the actions of the representative, including under the privacy safeguards.

Cove Money is not an Accredited Data Recipient. Cove Money operates as a CDR Representative of Fiskil Pty Ltd. Fiskil is the Accredited Data Recipient that collects and discloses CDR Data on behalf of Cove Money.

What this means for Cove Money users

When you connect bank data for Cove Money, bank data is accessed only through the Consumer Data Right framework and only after you give consent through the applicable consent flow.

Cove Money receives the data on a read-only basis so it can show connected accounts, balances, transactions, bills, cashflow, and insights.

Where to check providers

Before authorising CDR data sharing, review the consent screen, the provider's CDR policy, and the official CDR provider information. This helps confirm the role each organisation plays and how your data will be handled.

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This article is general information only and does not constitute personal financial advice. Consider seeking advice from a licensed adviser before acting.