Carmen James - 29th Aug, 2023
Open Banking can be thought of as the underlying digital standard or scheme that powers a whole variety of exciting financial services in the UK and beyond.
Many of these services powered by Open Banking are indeed free, and this includes Wonderful's direct, instant bank payments charity donation service.
When it comes to making a donation through Wonderful, there are no fees or charges whatsoever.
Open Banking is an exciting and rapidly growing scheme backed by the UK Government. Its aim is to give consumers more control over their finances, and this includes making it quicker, easier and more secure to make digital payments.
Since 2017, the top UK high street banks have been required to provide Open Banking services to their customers at no additional cost.
Thanks to Open Banking, Wonderful is able to offer fee-free donation processing and fundraising tools to thousands of UK charities.
Open Banking also powers lots of other financial services, including services which allow consumers to securely share their financial data with authorised providers. You can find out more about Open Banking in general by visiting openbanking.org.uk.
