To verify your income with Open Banking you'll need to connect your bank account and give us read-only access to the income transactions you select to share with us.
For step-by-step instructions on verifying with Open Banking, see below:
Select the 'Verify income' section on your RentPassport™.
Click 'Add' next to 'Income Sources' and tick the relevant income sources of all incomes you are receiving, e.g. if you have a part-time job and also receive benefits tick both 'Employed' and 'Benefits'.
Click 'Add' next to your selected income source to enter your income details.
Please note that if you have more than one income for an income source (e.g. you have two employments, or receive two different benefits) you will need to enter each one separately. Please enter your first income and then return to the below screen and you will see an option to 'Add another'.
Answer the questions on the next few screens about the income you are receiving, who is paying you and when you began receiving this income.
Once you have entered your income amount and payment frequency you will be asked to provide evidence to verify this.
Now you will need to add your bank account. Click "Add transactions" as illustrated below and select your bank from the list. you will also see the functionality to search for your bank. Canopy will now use our intermediary,
Plaid, to connect with your bank. You will be directed to log into your bank to authorise this connection.
Please note that Canopy nor Plaid will gain access to your login details for your bank, login is required is for your security to ensure it is you that is authorising the connection.
You will now be able to select your most recent income payment. This will bring up a list of your previous income payments, which you can submit as evidence.
You have now successfully connected via Open Banking and verified your income.
If there are any discrepancies your income evidence will be reviewed by our referencing team, and you may be prompted to verify using the manual route.