Introduction to the Consumer Data Right (CDR)
The Consumer Data Right (CDR) is an initiative that puts you in control of your financial data. It regulates the collection and handling of CDR data in line with privacy safeguards and rules that:
- Ensure users' data is managed securely
- Provide users with control over how their data is shared and used
How Airwallex uses CDR
When you link your bank account to Airwallex, our CDR partner, Basiq Pty Ltd (Basiq), may access the following CDR data from your bank:
What data we access:
- Bank account details (BSB and account number)
- Account holder name for identity verification
- Account balance information
Basiq then provides us with simple confirmations (also called ‘CDR Insights’) based on that data, for example:
- Whether there is match with your account name and number
- Whether the account balance can support the direct debit payments
Basiq is the accredited data recipient and CDR “principal” responsible for collecting and managing your CDR data, Airwallex does not receive your CDR data; it only receives limited CDR Insights generated by Basiq. Basiq handles your CDR data in line with the CDR rules and its own CDR policy, while Airwallex handles the CDR Insights it receives from Basiq in line with the Airwallex Privacy Policy.
How to remove your CDR consent with Airwallex
CDR as a verification method for Linked Bank Accounts is only available through Airwallex's Platform API and Embedded Finance services. You have two options to manage your consent:
Method 1: Contact your platform provider
- If you consented to CDR through one of our Platform/Embedded Finance customers, contact your Platform provider (the company or application you used to access Airwallex services) for guidance on how to remove your CDR consent. Your Platform provider can assist you with the specific process for their implementation.
Method 2: Manage through your bank
- You can manage your CDR consent directly through your bank's online banking platform.
How to review your current CDR consent
You can check the status of your CDR consent and monitor your data sharing at any time:
Through your bank:
- Log into your online banking and access the CDR dashboard
- View all companies you've shared data with
- Check consent expiry dates and data access history
- See what specific data is being shared
Through your Platform provider:
- Contact your Platform provider to request information about your current consent status
- Request a copy of your consent history if needed