Your Initial Consent Period
Your consent period will last for one year from the time your first consent was provided to any participating entity to provide your data through SGFinDex, even if you later provide consents to other participating entities within such one-year period. This is assuming you do not request to retrieve your data from any participating entity from 1st November 2023 and before the end of such one-year period.
For example, if you had provided your first consent to Bank A to provide your data through SGFinDex on 1st November 2023, and subsequently had provided consent to Bank B on 1st January 2024, both consents (i.e., consents to Bank A and B) will expire on 31st October 2024 (i.e. one year from 1st November 2023), assuming you did not request to retrieve your data from any participating entity before 31st October 2024.
Activity-Based Consent Renewal
From 1st November 2023, if you request to retrieve your data within the one-year period from the time your first consent was provided, your consent period will be automatically extended to expire one year after the date of such request from any financial institution whose system supports such extension1.
Continuing from the first example above, if you request to retrieve your data from any participating entity at any time between 1st November 2023 and 31st October 2024 (e.g. on 5th November 2023), both consents (i.e., consents to Bank A and B) will be automatically extended for an additional one year from 5th November 2023 and will expire on 4th November 20241.
1Before 1st December 2023, (a) should you give an instruction to retrieve your data from HSBC Bank or Standard Chartered Bank through any financial planning application/website, your data may not be returned from HSBC Bank or Standard Chartered Bank, and your consent period may not be extended by HSBC Bank or Standard Chartered Bank; and (b) should you give an instruction to retrieve your data through HSBC Bank’s, Standard Chartered Bank’s, United Overseas Bank’s or CPF Board’s financial planning application/websites, your data may not be returned from all financial institutions and your consent period may not be extended by all financial institutions, until the respective system deployment date of HSBC Bank, Standard Chartered Bank, United Overseas Bank or CPF Board (as the case may be). For enquiries, please contact HSBC Bank, Standard Chartered Bank, United Overseas Bank and CPF Board respectively.