Getting Started with Connected Accounts

We’d love to say linking your bank to Solo is effortless, but the reality is that some banks are still catching up with open banking. Every bank operates a little differently, but we’ve done the legwork to help make the process as smooth as possible for you.

There’s a lot of info here, but don’t worry—we’ll walk you through it step by step. So, grab a coffee, take a deep breath, and let’s get started!

 

Wait, What Is Open Banking?

Open banking lets you securely share your financial data with trusted apps like Solo. It’s part of the Consumer Data Right (CDR), regulated by the ACCC, ensuring your data is protected and shared only with your consent.

When enabled, your banking data syncs into the Connected Accounts section of Solo, making it easier and safer to manage your finances.

 

 

Before You Begin: A Quick Checklist

Your account is more likely to connect smoothly if:
✅ It’s open banking-ready (most new accounts are!)
✅ Your bank has your up-to-date contact details (no old emails from 2009)
✅ You’re using a currently supported banking product

 

 

Step-by-Step: Getting Connected

1. Check Your Bank Details First (Trust Us, It’ll Save You Time)

Your bank will verify your identity before allowing data sharing, so make sure they have:

• Your current mobile number (for security verifications)
• Your updated email address
• Your correct ID details

💡 Why this matters: Most connection issues happen because banks have outdated contact details. Fixing this first can save you from headaches later.

 

2. Special Account Types

Joint Accounts

• Everyone needs to give the green light to share data.
• Approval is usually done via your bank's online platform.
• Any account holder can pull the plug on sharing at any time.

Business Accounts

• The designated reps need to approve the connection.
• Managed through your business banking platform.

Older Accounts
If your account was opened before open banking kicked off, double-check:

• Is your banking product still available?
• Do you need to upgrade to a newer version?
• Does your bank even support open banking yet? (Some are still catching up!)

 

Getting Your Bank Account Open Banking-Ready

To enable data sharing, follow these steps:

• Log in to your bank’s mobile app or internet banking.
• Look for "open banking," "data sharing," or "consumer data right."
• Give permission to accredited third-party providers (that's us!).
• Manage your sharing settings anytime via your bank’s Consent Dashboard.

 

Is your bank asking for an OTP, but it’s not coming through?

OTPs are handled entirely by your bank, not Solo, so if you’re not receiving one, it’s worth checking that your contact details are up to date with them. Still no luck? Reach out to your bank, and if needed, escalate to higher support—they’re the only ones who can fix it!

 

Talking to Your Bank? Here’s What to Ask

Not all banks have fully embraced open banking yet. If you’re running into trouble, it’s worth checking with your bank.

Ask them:

• Is Open Banking enabled for my account?
• If not, when will it be available?

 

Still need a hand? Drop a comment below or reach out to our digital assistant in the app to connect with a Community Lead for extra support. And when you're all set, be sure to check out our Learn page for a step-by-step video on how Connected Accounts work in Solo!