Overview
Open Banking is used by Legl to securely link to your bank and verify your Source of Funds. It allows law firms to access the financial information they need without you having to download or email bank statements.
It is a secure way to share your financial data with trusted, regulated providers, so you can give your law firm the information they need quickly and safely, without sharing sensitive documents over email.
How this works
When your law firm requests a Source of Funds check through Legl, you may be given the option to share your bank account information using Open Banking. At a high level, the process works as follows:
You receive a secure link from your law firm directing you to your request in Legl
You select your bank from a list of FCA-regulated providers
You are redirected to your bank's official platform to authenticate securely
Your law firm can view only the transaction data needed to verify your Source of Funds
Once complete, your law firm can review and approve the information, helping move your matter forward more quickly
Using Open Banking can help you:
Complete verification faster, without manually gathering statements
Avoid the risks of sharing financial documents by email
Maintain privacy, as only selected accounts are shared
Reduce delays and progress your legal matter more smoothly
What triggers this
You are offered Open Banking when your law firm sends you a Source of Funds request. Law firms are legally required to carry out Source of Funds checks to comply with anti-money laundering (AML) regulations. These checks help ensure that transactions are legitimate and reduce the risk of financial crime, and Open Banking allows this information to be shared securely and efficiently.
What you will see
When you use Open Banking, you select the accounts you want to share and approve a secure, read-only connection. Your statements are then shared with your law firm automatically, so you do not need to download or email anything. You may be asked follow-up questions about some transactions before you submit.
Open Banking is optional. If you prefer, or if your bank is not supported, you can upload bank statements manually through Legl's secure platform instead. If you are unsure which option to use, contact your law firm.
Important information
Regulated and secure – the Open Banking providers Legl uses are FCA-authorised.
Read-only access – your law firm cannot control your account or make payments.
Encrypted and protected – your banking details are not stored or shared with third parties.
Consent-based – you can revoke access at any time.
Where to find this in Legl
You access Open Banking through your Source of Funds request when your law firm sends you a secure link to complete the check.