How to Set Up Your Business Network for Data Sharing
How do I share data on my business accounts?
If your business is in a Business Network in Online Banking and the Open Banking feature has been activated in Online Banking, your Administrator will need to nominate Users within your Business Network to share the Organisation’s Open Banking Account data.
If your business is not in a Business Network and your Open Banking Account is owned by 1 or more individual customers e.g. sole traders, when you commence the data share option via the Accredited Data Recipient, all of the Open Banking Accounts that you own (including business products) will be displayed and available to data share. If the business account is owned by more than one individual customer, the requirements relating to data sharing for joint accounts will apply.
What do I need to do to start data sharing on my business accounts if my business is in the Business Network?
If your business Network was registered for Online Banking prior to 1 November 2021, the Open Banking data sharing authority form needs to be completed, signed and returned to Westpac. Once this form has been completed, the Open Banking feature will be activated in Online Banking and your Administrators will be able to nominate Users to share Open Banking Account data with Accredited Data Recipients on behalf of the Organisation.
Once the form has been returned to Westpac, the Open Banking feature will be activated within 1-2 days.
If your Business Network was registered for Online Banking after 1 November 2021, no additional forms are needed – the Open Banking feature will be automatically activated and your Administrators are able to nominate Users to share Open Banking Account data with Accredited Data Recipients on behalf of the Organisation.
How do I update Users in my Business network to data share?
- Administrators need to sign into Westpac Online Banking and navigate to the Business network profile
- Select Administration > User administration
- Select the name of the User that you want to be a Nominated Representative (i.e. permission to data share on behalf of the Organisation)
- Scroll down the page to the heading ‘Open Banking data sharing’ and select Manage data sharing
- Check that the User is registered for Protect SMS (can be validated in the ‘Additional security’ section)
- Select Save
This User is now a Nominated Representative who is able to share Open Banking Account data for the accounts owned by the Organisation and will be presented with a Profile selection option when they start the Data Sharing option from the Accredited Data Recipient.