Open Banking Disclosure

Open banking in the UK operates under the Payment Services Regulations 2017 (PSRs) and the Open Banking standard overseen by the FCA and the Open Banking Implementation Entity. A regulated Account Information Service Provider (AISP) (Fena) is authorised to request read-only account and transaction data from your bank on your behalf, once you've given consent. Yamma is a customer of Fena's regulated service, not a reseller, distributor, or agent of it (Fena has confirmed this in writing), so Yamma itself is not separately FCA-authorised, does not appear on the FCA register, and does not request data from your bank directly.

Fena is Fena Labs Ltd (trading as Fena), a company registered in England and Wales, company number 12358683, registered office Floor 4, Building 1, 4 Thomas More Square, London E1W 1YW, United Kingdom. It has been an Authorised Payment Institution since 12 November 2020, regulated by the Financial Conduct Authority under firm reference number 934835. You can verify all of that yourself on the FCA Financial Services Register, and we'd encourage it, that record is authoritative and this page is not.

The register lists two permissions for Fena: account information services and payment initiation services. We mention the second because you'll see it if you check, and it would be reasonable to wonder what it means for you. The answer is nothing: the consent Yamma creates is an account access consent, Yamma has no payment-initiation integration of any kind, and no part of this app can move money. See section 3.

When you connect a bank account, you'll be taken through Fena's consent flow: you select your bank, authenticate directly with your bank (via redirect or your banking app), and approve the specific accounts and data Yamma is requesting. Your banking credentials are entered only on your bank's own site or app, never on Yamma or Fena.

• We can read the details, balance and transaction history of the accounts you approve: the date, amount and description of each transaction, which is what Yamma needs to categorise your spending and build a budget from it.
• We cannot move money, set up payments, or change anything at your bank. The consent covers reading information and nothing else, and Yamma has no payment-initiation integration to use even if it did.
• We never see or store your online banking password or PIN.
• Whatever your bank's consent screen lists as available, Yamma's own integration only ever reads your account details, balances, and transaction history, never your full card number, your standing orders and direct debits, or your saved payees. That's not a promise about what the screen shows you (that list is set by Fena's connection to your bank, not by Yamma on a per-connection basis); it's a promise about what Yamma actually asks for and uses once you've connected.

When you first connect an account, Yamma imports up to two years of past transactions. That history is what lets a budget or a forecast say anything useful on the first day, rather than after a month of waiting, but it does mean Yamma holds considerably more than the period you happen to be looking at. After that first import it only reads recent activity.

An Open Banking access consent is not open-ended: your bank may ask you to reconfirm it from time to time, often roughly every 90 days, to keep it active. Yamma reads the exact date back from your bank via Fena rather than assuming a fixed number, and we'll warn you in the app about a week before it's due. Reconfirming takes you back through your bank's own approval screen without having to pick your bank again from scratch.

If a consent expires or is withdrawn, the connection stops importing and is flagged in Yamma as needing your attention. Nothing already imported is deleted. You keep the transactions and everything you built on them.

You can revoke access at any time in Yamma's Settings, or directly through your bank's own app or website. Revoking it there also stops Yamma's access immediately.

Bank data received via Fena is protected under the same encryption, access-control, and retention practices described in the Privacy Policy, where Fena is listed among the providers involved in running Yamma.

Start with us: help@yamma.money. Most problems with a bank connection are ours to fix (a sync that stopped, a transaction that imported wrongly, a connection that won't reconnect), and we'd rather hear about them.

If your complaint is about the regulated open banking service itself (how the consent was taken, what your bank was asked for, how access was handled), that sits with Fena, who you can reach at support@fena.co. Tell us either way and we'll help you raise it rather than sending you off to work out which of us you needed.

The Financial Ombudsman Service can consider a complaint about Fena if Fena doesn't deal with it properly. It's free to use and independent of both of us. There are time limits. Generally you should complain to the firm first and give it up to eight weeks to respond, then refer it to the Ombudsman within six months of its final answer. financial-ombudsman.org.uk sets out what it can look at; the final decision on whether it takes a complaint is theirs.

The Financial Services Compensation Scheme does not cover this, and the FCA register says so plainly for Fena. We'd rather say it than leave you to find it: the reason is benign. Nobody holds your money in this arrangement. Yamma and Fena only ever read information, your money stays in your own bank account, and it keeps whatever protection it already has there. FSCS covers money a failed firm was holding, and there is none here to cover.

Complaints about how your personal data has been handled are separate. See the Privacy Policy.