The comments made by Andrea Leadsom, the then Economic Secretary to the Treasury, on 24 June 2014.
This initiative has the potential to make a real difference to customers and competition. By helping customers get a much better understanding –for the first time – of how they are spending their money, and which is the best product for them. And I am delighted to confirm that the format has now been agreed, and the service will be available to customers by the end of the financial year.
Current account holders will be able to download a year’s worth of their transactions in a single file, which they will then be able to use in online comparison tools.