working to make banking fairer – compare current accounts with midata

Midata is an industry initiative that major UK banks, including Santander and cahoot, have signed up to.

This service allows you to download 12 months of transaction history from your current account. Each bank will provide this information in the same format (CSV file) which you can then upload to independent comparison sites. These sites analyse your information and show you a comparison of current accounts based on your spending habits from the previous 12 months.

how do I use midata?

You can easily download your midata information from online banking. Simply log on as you normally would and follow the instructions below:

  1. From the 'My Accounts and Transactions' tab, select the current account you'd like to compare
  2. Click on the 'Download transactions' link above the transactions table
  3. In the 'Download to' drop-down menu, select 'midata (CSV)' and click on the 'Download' button
  4. Read and confirm that you're happy with the information displayed
  5. Click on the 'Continue' button and the file will download – you can then save it to your preferred location as a CSV file.

Your midata file won't contain any personal information such as name, address or account number and potentially sensitive transactions are masked for your security.

Once you've downloaded your midata file it's your responsibility to keep it safe.

where do I use midata?

When you've downloaded your midata file from online banking and saved it to your computer you can visit a comparison website that offers the midata service.

  • We recommend that you check the comparison site confirms they have signed up to the midata code of practice
  • They'll ask you to upload your midata file
  • You'll then be presented with your result based on how you've managed your account.

security

We're committed to keeping your information safe. That's why personal data is masked in the midata files you download from online banking. When you upload your information to comparison sites, they'll only be able to see the sets of data they analyse for you to produce your comparisons.

The comparison sites won't ask you for your name or contact details when you give them your transaction history. Also, each bank and comparison site offering the midata comparison has agreed to the code of practice on how to keep your data private, and will follow data protection standards. 

If you have a joint account and would like to use this service, you must make sure that all other account holders are happy for you to download the file and upload it to a comparison site.

When uploading your data, please choose a reputable comparison site that you are confident will use your information in a safe way.

keeping your midata information safe

If you store your midata file on your computer or device, make sure you protect the information by:

  • using a PIN lock or password on a mobile device to prevent unauthorised access
  • making sure that your virus protection software is up to date
  • using secure Wi-Fi when you access the data over the internet
  • deleting your midata from your computer or device (including information stored in back-up files) when you no longer need it.

If you'd like more information on how to protect your computer, the Get Safe Online website offers a range of tips. See our security and privacy page for details about software to help protect your computer and our online banking commitment page for details about passwords and log on details. 

Find out more about online banking

code of practice

The banks and comparison sites involved in midata have agreed to a code of practice on how it should work. You can see the code and more information on midata at www.pcamidata.co.uk

We've summarised the important information for you below.

Banks:

  • will remain impartial in reference to midata comparison providers
  • will make customers aware of how to keep their data safe
  • will commit to making sure that all midata files are accurate.


Comparison sites:

  • will offer an impartial service that doesn't favour any bank or product
  • will make sure the search results of current accounts you may be eligible for are clear and comprehensive
  • will treat customers fairly by using up-to-date product information and detailing any costs that are involved within any calculation.

The banks and comparison sites all commit to answering any queries about midata.

your questions answered

If you have a question, check our 'frequently asked questions' or call us on 0800 5871 111. We're open 8am to 8pm Monday to Friday, and 9am to 5pm on Saturday (if calling from outside the UK please dial +44 1908 937 222).