TLDR: Thirdfort's Source of Funds product includes a questionnaire and a bank report via Open Banking or uploaded bank statements. Open Banking allows secure sharing of financial data from most UK banks, but not international ones. Clients select their bank in the app, authenticate via the bank's platform, and share up to six months of statements. If Open Banking isn't available, clients can upload statements manually. Thirdfort does not store login credentials.
Bank Statements & Source of Funds
Thirdforts Source of Funds product consists of two parts, the Source of Funds questionnaire, and a bank report using either Open Banking or your client's own bank statements.
What is Open Banking
Open Banking is a secure method for clients to share bank statements and financial information with authorised third parties. Open Banking was introduced by the UK government and is supported by the majority of banks in the UK.
Which banks are supported?
The majority of UK banks are supported; however, no international banks are supported. The type of account your client can link to is also determined by the bank. Some banks may allow all accounts to be shared, whilst others may only allow a current account to be shared.
| Amex | Bank of Scotland | Barclaycard | Barclays |
| Capital One | Chelsea Building Society | Danske Bank | First Direct |
| Halifax | HSBC | Lloyds | MBNA |
| Monzo | M&S Bank | Nationwide | NatWest |
| Royal Bank of Scotland | Revolut | Santander | Starling |
| Tesco Bank | Tide | TSB | Ulster Bank |
| Virgin Money | Wise |
What if my client's bank or account isn't available?
If your client is unable to connect their bank via Open Banking, then they have the option to manually upload bank statements. The app will guide them through this process, where required and provide a new task for them to upload PDFs or photos of bank statements.
How does my client link their bank?
Within the Thirdfort app, your client will see a list of supported banks to choose from. After selecting their bank, they will be directed to their bank's app or website to sign in and select the accounts they wish to share a statement for.
Thirdfort does not see or store any of your clients' login credentials when they access their bank, and this process is managed by the bank.
What information is shared?
When your client links their bank, they agree to share a bank statement for the most recent 6 months, for each account shared. Your client can choose to share multiple banks and accounts.
This article is based on accessing Thirdfort directly via our portal. If you access Thirdfort via a partner or reseller, functionality may differ.