How To Connect A Bank Account To An App In Australia

In Australia, many finance apps connect eligible bank data through the Consumer Data Right.

The exact flow can vary by provider and bank, but the official CDR website describes a general process: give consent, complete an identity check, confirm the data you want to share, then start using the provider's service once the data is shared.

1. Start in the app

You usually begin from the app or website that needs access. For Cove Money, that means starting the connection from Cove Money.

2. Review the consent request

The CDR consent flow should show what data is requested, why it is needed, who can access it, how long access lasts, and how you can manage or withdraw consent.

3. Complete the bank identity step

The CDR website says identity is verified by your existing provider via a one-time password. Do not share your bank password with Cove Money. Cove Money does not receive or store your bank login credentials.

4. Confirm the accounts and data

You choose which eligible accounts and data types to share. Only authorise data you understand and are comfortable sharing.

5. Start using the app's features

Once data becomes available, Cove Money can show connected accounts, balances, transactions, bills, cashflow, and insights from the authorised data.

You can withdraw consent later. Some features may stop working or become less complete if access is withdrawn.

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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.