Funds, payments & transfers
Open Banking
A secure way to make payments through a bank account connected by a service provider.
Open Banking is a secure way to make payments by connecting your bank account to an authorised service provider.
Approved short definition: A secure way to make payments through a bank account connected by a service provider. Example: When depositing through an Open Banking payment flow, you are redirected to your bank to review and authorise the payment. Do not use: Do not use Open Banking as a synonym for every bank transfer or apply the name of one Open Banking-based payment method to a different etoro flow. Aliases / search terms: Open Banking payment; bank account payment; bank-connected payment; Pay by Bank; payment initiation Related terms: Bank transfer; Easy Bank Transfer; Deposit funds; Payment method; Local currency account
Also known as: Open Banking payment, bank account payment, bank-connected payment, Pay by Bank, payment initiation