The Short Version
Safe to connect, easy to undo
DepositScout is an independent UK savings comparison site. We are not a bank, we do not hold your money, and connecting a bank is never required to use the site.
If you do connect one, it is so your dashboard can show live balances. The link uses the UK’s Open Banking system. You approve it at your bank, it is read-only, and you can disconnect whenever you like.
We never see your password
You sign in at your bank, not with us.
Read-only — we can't move money
Nobody can pay, transfer, or change settings through DepositScout.
Names and balances only
We don't pull your transactions, spending, or full account numbers.
Disconnect anytime
Optional to start with, and yours to undo in one step.
Open Banking
You sign in at your bank, not with us
In the UK we use Open Banking to connect accounts. It was introduced so you can share information with a trusted third party without giving them your online banking login.
When you click Connect a bank, you are sent to your bank’s official website or app. You choose which accounts to share and you approve read-only access. We never see your password.
UK and EU connections also expire after about 90 days. Your bank will ask you to approve the link again — that is the Open Banking rule, not us holding on forever.
Who Actually Talks to Your Bank
LunchFlow and GoCardless
DepositScout is not authorised by the Financial Conduct Authority. We do not connect to banks ourselves. We use a specialist partner, LunchFlow, and for UK and EU banks LunchFlow uses GoCardless.
GoCardless Ltd is authorised by the FCA under the Payment Services Regulations 2017 (firm reference number 597190) and is listed as a regulated Open Banking provider. That is the regulated layer that talks to your bank.
LunchFlow then passes us only what we need for your dashboard. Their own security page explains that they never see your bank password, cannot make payments, and encrypt data in transit and at rest.
What we keep — and what we don’t
We store the least we can so your dashboard works. We do not build a picture of your spending.
We keep
- The bank’s name and the account name
- The latest balance, so Sync Now can refresh it
- A private link on our servers so we can update that balance — it never goes to your browser
We don’t keep
- Your banking password or login
- Transaction history or spending
- Full account numbers
- Anything we could use to move your money
We do not send connected-bank details to Penny, to analytics, or to other banks. More detail is in our Privacy Policy.
How We Protect It
Encryption, logins, and a locked-down database
The website uses HTTPS — the same transport encryption (TLS) you see on banks and shops. Your dashboard only loads when you are signed in. Each person’s accounts are kept separate in the database, so one customer cannot see another’s.
The keys that keep a bank link alive stay on our servers. They are never sent to your phone or browser. Payment card or Direct Debit details, if you ever pay us, are handled by Stripe — we never see those bank details either.
ICO registered
DepositScout Ltd is registered with the Information Commissioner’s Office. Registration number ZC025953.
Not a bank — and we say so
We are a comparison service, not an FCA-authorised firm. The regulated Open Banking connection is provided through LunchFlow and GoCardless.
You're in Control
Connect, refresh, or remove — it’s your choice
You can use the dashboard by typing accounts in yourself. Connecting a bank just saves you that typing and keeps balances fresh when you tap Sync Now.
Disconnect drops the bank link and removes the imported accounts. Anything you added yourself stays. If you delete your DepositScout account, the dashboard data and the bank link go with it.
Frequently asked questions
Can DepositScout move money from my bank?+
No. The connection is read-only. We cannot make payments, transfer money, or change anything on your accounts.
Do you see my banking password?+
No. You sign in on your bank’s own website or app. We never see or store your login details.
Do you see my transactions and spending?+
No. We only keep the account name, the bank’s name, and the balance, so your dashboard can stay up to date.
Is connecting a bank required?+
No. You can add accounts by hand if you prefer. Connecting a bank is optional and you can disconnect at any time.
Is DepositScout a bank, or FCA authorised?+
No. DepositScout is an independent comparison service. We are not a bank and we are not authorised by the Financial Conduct Authority. UK bank connections use Open Banking through LunchFlow, which partners with GoCardless — an FCA-authorised provider (FRN 597190).
How do I remove the connection?+
Use Disconnect on your dashboard. That drops the bank link and removes the imported accounts. Anything you added yourself stays. Deleting your DepositScout account removes the dashboard data and the bank link with it.
Questions about your data?
The legal detail lives in our Privacy Policy and Terms. For anything else, email [email protected].