I’ve recently received notification of my updated T&Cs which make reference to ‘Third Party Providers’ (TPPs), what are they?
These are companies that provide account services to customers. They let you see your online payment accounts online or via a mobile app. This includes your credit cards and bank accounts – but they can only do this with your consent. The Payment Services Directive 2 (PSD2) has regulated Third Party Providers since 13 January 2018. You can find more information on the Financial Conduct Authority (FCA) website at: www.fca.org.uk/consumers/account-information-and-payment-initiation-services.