How do I set up Open Banking Recurring Payments?
- Start here: my.oakbrook.com
- Select ‘Struggling to pay’
- Choose your payment plan and select Open Banking Recurring Payments as your repayment method.
- Confirm the limits (max per payment, frequency, monthly cap, end date).
- We’ll send you to your banking app to approve.
You’re done — we’ll only ever request payments within those limits.
What exactly am I agreeing to?
You’ll be shown:
- Time Period: How often we will attempt to take a payment (e.g. monthly).
- Maximum amount per period: The most we’ll collect in any month, which could be the equivalent of 2 monthly payments, if more than one payment falls within the same month.
- Maximum amount per payment (transaction): The most we’ll take in a single payment attempt.
- Period start date: this is when your consent starts. We won’t take any money before your first scheduled payment date.
- Expiry date: e.g., “permission ends 31/12/2026”. After this date, we’ll stop collecting under this consent.
You can change or cancel the permission later (see below).
How long does the permission last?
Until the end date you agree in your bank. We’ll remind you ahead of any renewal. You can cancel at any time.