Enhancing financial management for UK iPhone users, the Wallet app in iOS 17.1 is introducing a notable feature that enables users to view bank account balance and transaction history directly by incorporating the UK’s Open Banking API.
This progressive feature is exclusive to the UK, representing a step towards intertwining financial oversight with regular digital interactions. In this post, let’s explore how to utilize this integration to effortlessly view bank account balances in Apple Wallet.
What is Apple Wallet?
Apple Wallet, developed by Apple Inc., centralizes storage for payment cards, passes, tickets, and more on iOS and watchOS. Besides facilitating contactless payments via Apple Pay at various outlets, it also manages sending and receiving money and storing loyalty and gift cards.
Prioritizing user security, all data within Apple Wallet is encrypted and shielded by a passcode or Face ID/Touch ID.
Why is it important to view bank account balances regularly?
Viewing your bank account balance regularly is crucial for several reasons:
- Avoiding Overspending: Awareness of account balances helps control spending and prevents overdrafts.
- Tracking Spending Habits: Regular checks aid in monitoring spending and identifying areas for savings.
- Detecting Fraud: Timely balance checks allow for swift detection of any unusual or unauthorized charges, safeguarding against fraudulent activity.
How to View Bank Account Balance in Apple Wallet
To view your bank account details in the Wallet app on your iPhone:
- Open the Wallet app. Select a card from a supported bank.
- Tap “Get Started” under “See Balances and Full Transaction History for This Account.”
- Press “Continue” to link your account.
- Verify the account details and tap “Continue” to grant Wallet access.
- Authenticate using your iPhone’s passcode or Face ID within your bank app.
- Now you can view your Account available balance.
Note: Ensure your device runs on iOS 17.1 or later to access these features.
That’s it! Apple Wallet’s new feature in iOS 17.1 brings convenient and secure financial tracking to UK users, blending innovative technology with practical functionality. This update is not just a step, but a leap towards efficient digital financial management, making daily transactions and financial tracking effortlessly integrated into our digital routines.
Yes, all data in Apple Wallet is encrypted and protected by Face ID/Touch ID or a passcode.
Can I see my transaction history in the Wallet app?
Yes, the feature allows you to view both your bank balance and transaction history.
Which banks currently support the new Wallet feature?
Barclays, Monzo, Starling, HSBC, Lloyds, and RBS are supporting the feature at the moment.
Is this feature available outside the UK?
Currently, this feature is exclusive to the UK due to its integration with the UK’s Open Banking API.