The bank intermediary is an intermediary between a bank and a customer, typically the customer’s bank.
When you have a banking relationship with a bank, your banking relationship is confidential, but your banking data is not.
You are not required to tell the bank you have chosen to use an intermediary.
It is, however, your obligation to notify the bank if you think your banking information may be disclosed by a third party without your consent.
In this article, we’ll explain how to tell your bank whether your information is sensitive and whether it can be disclosed to third parties.
What is a banking intermediary?
The bank intermediary is an institution that provides a financial service to a bank.
The bank may choose to use the bank intermediary in conjunction with a third-party financial intermediary.
A third-parties financial intermediary acts as a middleman between the bank and the customer, but it is not an intermediary for the purpose of collecting money.
An intermediary can provide a financial services service to you if you are the bank, but the intermediary may also provide other services to you.
An important distinction between the intermediaries is that a bank may be an intermediary only for you.
A bank that is not a financial intermediary can still provide services to other people.
What do I need to do?
If you do not feel comfortable writing to your banking provider about your concerns, you may choose not to send a letter to your financial institution.
You should keep a copy of the bank’s policy, along with the bank statement that lists your information, for the bank to use to contact you about your financial privacy.
How can I know if my bank’s policies are confidential?
The policy can include a clause stating that banks cannot share your information with third parties without your permission.
The banks policy should explain that it is for your protection.
It may also include a section that describes what can and cannot be shared.
You can check by going to www.bankoflondon.com/privatisation, or by calling 0300 123 3333.
What if I don’t feel comfortable about the way my bank is handling my information?
You may want to talk to a solicitor, or you may wish to speak to your elected representatives.
Your local authority can help you.
If your bank is a member of the Financial Conduct Authority, you will need to go to www