When does Open Banking Launch?

The "Big Four" banks began sharing product information on 1 July 2019 and will provide the option for their customers to share their customer data from 1 July 2020.

As a mutual bank, RACQ Bank has different timelines to the Big Four banks. RACQ Bank commenced sharing its product information from 1 July 2020. RACQ Bank is sharing its product information related to credit and charge cards, term deposits, saving and transaction accounts, home loans for both owner occupied and investment loans, personal and car loans and commercial and business loans, and personal and business overdrafts. RACQ is planning to make member data sharing available in the coming months. We will inform you when this occurs.