midata for personal current accounts

What is midata?

The midata programme has been running since April 2011 as part of the Government Consumer Empowerment Strategy. Involving businesses, consumer groups and Government, midata is an initiative aimed at allowing individuals to view, access and use their personal consumption and transaction data in a way that is portable and safe. It aims to enable consumers to take advantage of applications and services which can use this data to find them a better deal, or help them understand their spending habits.

midata for personal current account comparisons

This site is to provide public information relating specifically to the industry-led scheme in which participating account providers (banks or building societies providing personal current accounts or ‘PCAs’) will enable customers to download their PCA transaction data in a ‘midata file’.

A midata file is a record of up to 12 months of transaction history for the customer’s PCA. The data included is intended to provide the minimum necessary to enable informed analysis so as to reduce security risks and help protect the privacy of the account holder and any third parties mentioned in the transaction data. The content and format of midata files is set by agreed industry standards.

Once a customer has downloaded their midata file, this can be submitted to comparison providers, such as a price comparison website. The comparison provider will analyse the data in the file and provide information tailored to the customer. This may help identify possible account switching options.

Industry standards and voluntary code of practice

This website hosts key industry documents for the PCA midata initiative.

Voluntary code of practice

A voluntary industry code setting out best practice for account providers and comparison providers participating in the midata initiative.

Voluntary code of practice – consumer summary

An overview of the voluntary code of practice intended for consumers.

midata file content standard

This standard sets the content and format that account providers should use in their midata files. This is to ensure consistency in the data provided and format so as to facilitate analysis and protect the security and privacy of account holders.

Website administrator: admin@pcamidata.co.uk