Midata

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.

You can download 12 months of transaction history for your current account. Each bank provides this information in the same format (CSV file). You then upload this to independent comparison sites. The sites look at the information and compare current accounts based on your spending habits.

How do I use midata?

You can download your midata information in Online Banking. Log on as normal and then:

1. from the 'My Accounts and Transactions' tab, click the current account to compare
2. click on the 'Download transactions' link above the transactions table
3. in the 'Download to' menu, click 'midata (CSV)' and click on 'Download’
4. read and confirm you're happy with the information shown
5. click 'Continue' to download the file, then save it where you like on your device.

The file won't contain any personal information. Transactions that could be sensitive are masked for your security. Please check all account holders are happy for you to use the midata service. 

Once you've downloaded the file, it’s up to you to keep it safe.

Where do I use midata?

When you've downloaded the file, visit a comparison website that offers the midata service. Check the site has signed up to the midata code of practice before you start.

Keeping your midata information safe

If you store your midata file, make sure you protect the information by:

• using a PIN or password on a mobile device, to prevent unauthorised access
• making sure your virus protection software is up to date
• using secure Wi-Fi when you access the data online
• deleting your data (including data stored in back-up files) when you no longer need it
• choosing a reputable comparison site that will use your information safely.

For more info on how to protect your computer, go to Get Safe Online. Visit our security and privacy page for details about software to help protect your computer. 

Code of practice

Banks and comparisons websites have signed up to a code of practice saying how midata should work. To see the code, and for more info, go to www.pcamidata.co.uk

We've summed up the things you need to know.

Banks will:

• not take sides with 1 midata comparison provider against another 
• tell you how to keep your data safe
• commit to making sure midata files are accurate.

Comparison sites will:

• offer a service that doesn't take sides with any 1 bank or product
• make sure results are clear and detailed
• treat customers fairly by using up-to-date product information
• show any costs involved in any sums.