Privacy policy


This policy sets out how OpenMoney, a trading style of OpenMoney Adviser Services Limited, uses and protects your data. OpenMoney is committed to ensuring that your privacy is protected and so will only ever request data that is necessary to meet our legal obligations or to fulfil our contract to you. We are registered with the Information Commissioners Officer (ICO) as a Data Controller and are compliant with the requirements of the GDPR and the Data Protection Act 2018.

OpenMoney has nominated Ashley Eyre as Data Protection Officer (DPO). OpenMoney reserves the right to change this policy at any time. We will contact you to let you know of any material amendments to this policy, however you should check this page periodically to ensure that you are aware of and accepting of any incremental changes. This policy is effective from 1st November 2021.

The Information We Gather

We will gather any information which is required to enable us to provide you with the service you have requested. We may also require additional information to meet our legal obligations. Below is a non-exhaustive list of information we may gather to meet these requirements:

  • Basic personal details, such as name, date of birth and address;
  • Contact information, such as email address and phone number;
  • Details to enable us to provide tax-beneficial products, such as National Insurance number;
  • Financial information to allow us to assess your eligibility for an OpenMoney account or to enable us to provide advice;
  • Details on your marketing preferences; and
  • Device information if you are using the OpenMoney App, and other information relevant to customer surveys and offers.

In accordance with our obligations as an FCA authorised and regulated firm, we record and retain all communications between OpenMoney and our customers. This includes phone calls, webchats and emails.

We are required to verify all our customers identity and residency information. We will strive to do this electronically, however this is not possible in all cases and so we may require either original or certified copies of documents as evidence.

What We Do With This Information

We require this information to fulfil our legal obligations and our contract to you, it allows us to provide you with advice. If you’re an OpenMoney App user, it allows us to provide you with account aggregation services. We also require this information for the following specific reasons:

  • Fulfil the FCA Record Keeping requirements;
  • To provide you with your investor documents, such as suitability reports, key investor information documents and other policies;
  • In order to fulfil your contract we may have to provide selected third parties, with whom OpenMoney has a legal relationship with, with your data.

If you have consented to marketing communications:

  • To let you know about any new products, services, offers and other relevant updates;
  • To contact you for market research purposes;
  • To let you know about updates in the market, new blogs and updates from our CEO.

We will never share information which is not necessary for the transaction of your contract, or to fulfil our legal obligations. We have legal contracts in place with any company we share data with, so we know exactly how they store and use this information. We will never sell your data. OpenMoney have appointed TransUnion Information Group (TU UK) to act as the credit reference agency for the purpose of verifying the identity of all OpenMoney customers. To this end, we may pass personal information relating to you to thecredit reference agency in order to verify your identity. For further details relating to the use of your personal data by TU UK, please refer to their privacy policy.


OpenMoney is committed to ensuring that your data is secure. In order to ensure no unauthorised access or disclosure, we have implemented a range of physical, electronic and human measures to secure the information we gather, below are two examples of security measures we use:

  • OpenMoney’s Portal and App use 256 bit SSL encryption technology in order to keep any data transferred to and from us secure; and
  • if you are inactive when using the OpenMoney Portal or App for an extended length of time, you will be logged out automatically.

Removing your Data

GDPR introduced the ‘right to erasure’ which means you are able to ask companies to delete your data. However, some companies, including OpenMoney who are authorised and regulated by the FCA, have additional record keeping responsibilities. Below is a summary of how you can remove your data, if you no longer want to be an OpenMoney customer, and the data which falls under the record keeping requirements:

  • If you have setup an OpenMoney account, but not received advice you may be able to delete your data, however once you have received investment advice we are bound by the record keeping requirements. This means that you can close your account, but we will have to keep some data in accordance with the FCA rules; or
  • If you are an OpenMoney App customer, it is simpler as we do not store your external account information, so if you login to your App, delete your external accounts and then delete the App we do not hold any external account information. We will still hold basic information you used to setup your account, which follows the same rules as the OpenMoney account point.


While OpenMoney takes all possible measures in order to secure your account, we recommend you follow best practice to help keep things safe:

Password and passcode

Never share your passwords, passcodes or any other login details with anyone else. We also recommend that you don’t store passwords, passcodes or any other login details on your device. In the event that you lose your device, or if you believe someone else may know your login details, please inform OpenMoney immediately so we can stop the service on that device Get in touch with us as soon as possible if you feel someone may know your login details or if you lose your device. If you haven’t already, we also recommend that you setup a passcode or fingerprint recognition to access your device where possible (details of how to do this should be found in your device instructions).

Your device

We recommend not leaving your device unattended while using the App, or unlocked. Think carefully about when and where you access the App; try not to do so when people are able to look over your shoulder and see your screen. The App is designed for use on standard, unmodified devices; use of the App on a jailbroken or rooted device is entirely at the user’s own risk. OpenMoney will always aim for the App to be updated in line with each major device operating system release; we recommend that you keep your device up-to-date with the latest version of the operating system available to you, together with any security patches as and when they are released.

Contact with OpenMoney

OpenMoney will never ask you to divulge your login and security details when we contact you. When you want to discuss account information, such as over webchat, we will ask you to answer security questions so you can be confident we won’t give out your details to anyone else. Always check the sender of emails and messages containing links and be careful when opening any such links.

OpenMoney And Cookies

You will be given the option to accept cookies when you use the OpenMoney website.

A cookie is a small text file that is downloaded to your device when you access a website, allowing that website to recognise your device and to store information about your preferences and actions. OpenMoney uses cookies to tell which pages of our website you access, helping us to improve our website and services.

Cookies let us monitor which pages you use, and how you use them. Consequently, the data we collect feeds into our ensuring our website remains as relevant as possible to our users. Cookies do not give us access to your device, nor do they give us access to any data other than that which you have expressly chosen to share with us elsewhere in the App or website.

You do not have to accept cookies, though failure to do so may stop you from getting the best experience from the OpenMoney website.

Third Party Links

The OpenMoney website may contain links to websites that we think you may find relevant or interesting. Upon using any third party links, you will leave the OpenMoney website, at which point we cease to have any control over the destination website.  As such, though we will always strive to ensure that the links are useful, we can in no way be responsible for the protection and privacy of any data you provide when visiting external sites. It is important to note that this privacy statement covers OpenMoney websites only, and that any external sites are not covered or governed by this statement. When visiting any website, you should always exercise caution and routinely consider the privacy policy of that particular website.

Your Personal Information

Your personal information belongs to you, and you can opt to restrict its collection or use. If you are filling in forms on the website, you have to give your explicit consent for us to send you direct marketing. If at any point you wish to change your preference for whether or not your information can be used for direct marketing, please contact us via the chat function on the website or email Alternatively, all of our marketing communications contain the option to unsubscribe.

Should you believe any of the information we hold about you to be incorrect, please either make the necessary amendments via the App or Portal; if this is not possible, please contact us via the chat function on the website or email

Unless we either have your express permission, or are required by law to do so, OpenMoney will not sell, distribute or lease your personal information to third parties.

Under the terms of the GDPR, you can request details of your personal information as held by us. To make such a request, please contact us via the chat function on the website or send an email to