Tool profile
Basiq: cost, fit and limits
Basiq is an open banking data API made by Basiq Pty Ltd, a wholly-owned subsidiary of Cuscal Limited, that connects apps to 135+ Australian banks and offers enrichment and affordability reporting priced per user and per report.
What to know first
Basiq prints its prices per user and per report. Customer data is $0.50 per user per month plus a platform access fee, enrichment is $0.25 per user per month and affordability reports start at $3.00 each. A user is billable for the full month once created, and plans have a minimum duration of 12 months. Coverage is stated for Australia.
Basiq at a glance
| Maker | Basiq Pty Ltd (wholly-owned subsidiary of Cuscal Limited), Not stated on the vendor pages |
|---|---|
| Free plan | No |
| Entry price | $0.25 per user per month (Insights, data enrichment) |
| API access | Yes |
| Category | Best AI Open Banking APIs in 2026, rank 8 of 13 |
| Website | basiq.io |
Who Basiq is best for
Australian lenders
Affordability reports from $3.00 each and connections to 135+ Australian institutions suit loan assessment in that market. A lender can estimate its cost per application from a clear report fee.
Budget apps with many light users
Per-user pricing of $0.50 for data and $0.25 for enrichment makes monthly cost easy to model against active users. A team can multiply monthly active users by the rate to forecast cost.
Institutions acting as data holders
A Data holder offer covers authorization, compliance, consent management, security and continuous reporting, with set-up and ongoing fees. Because it needs authorization and reporting, a data holder should budget for the quoted fees.
Basiq plans and pricing
| Plan | Price | What it includes |
|---|---|---|
| Data (customer data) | $0.50 per user / month | Connect to 135+ banks and financial institutions in Australia, plus a platform access fee. A platform access fee also applies, according to the pricing page. |
| Insights (data enrichment) | $0.25 per user / month | Classifies the true nature of transactions. Billed per user per month, with the same 12-month minimum duration as the other plans. |
| Insights (affordability report) | from $3.00 per report | Affordability reports billed per report. The fee is per report, so cost follows the number of assessments and not the user count. |
| Data holder | Price not listed | Authorization, compliance, consent management, security and continuous reporting; set-up and ongoing fees apply. Aimed at institutions that expose data rather than apps that consume it. |
| Customised | Custom pricing | Volume pricing, premium support, product discounts and integration assistance. Negotiated for larger customers who want a tailored agreement. |
Checked November 2026.
What Basiq does
- Customer data
- Connects to 135+ banks and financial institutions in Australia at $0.50 per user per month, plus a platform access fee. A user is billable for the month once created.
- Data enrichment
- Classifies the nature of transactions at $0.25 per user per month. The pages read describe the outcome, not the model, and name no AI. Billing is per user per month, so the cost rises with every active user.
- Affordability reports
- Reports start from $3.00 each, which suits one-off loan assessments better than continuous monitoring. Billing per report keeps cost tied to actual decisions and makes it easy to attribute.
- Data holder offering
- Covers authorization, compliance, consent management, security and continuous reporting for institutions that expose data, with set-up and ongoing fees. The page lists the set-up and ongoing fees as separate costs without giving amounts.
- Customised plan
- Volume pricing, premium support, product discounts and integration assistance come under a custom agreement. Larger customers should ask what the discount thresholds and support levels are before signing.
How Basiq handles your data
The pricing page, the only page we read, states nothing about data handling. It does not say whether Basiq trains models on customer data, how long it retains data, where it hosts data or which certifications it holds, so the vendor's policy was not checked for these points. The page names Cuscal Limited as the parent of Basiq Pty Ltd. Request the security documentation and retention terms before connecting real users.
Where Basiq falls short in practice
- 12-month minimum. Plans have a minimum duration of 12 months, so a pilot that fails still carries a year of commitment unless negotiated. A team that wants month-to-month terms should negotiate this point before signing.
- Billing starts at creation. A user is billable for the full month once created, so churned or test users can raise the bill if not cleaned up. Clean up test accounts regularly, because each one still counts toward the monthly bill.
- Regional coverage. Coverage is stated for Australia, with New Zealand references in product copy, so multi-country products need another vendor. The pages read do not say whether other markets are connected or planned.
Alternatives to Basiq
Basiq: common questions
How much does Basiq cost per user?
Customer data costs $0.50 per user per month plus a platform access fee, and enrichment costs $0.25 per user per month. Affordability reports start at $3.00 each. A user is billable for the full month once created, and plans run at least 12 months.
What banks does Basiq cover?
The pricing page states connections to 135+ banks and financial institutions in Australia. Product copy also references New Zealand. Basiq does not list the institutions on the page we read, so check that your customers' banks are included. The count is the vendor's figure, so confirm your bank list against it.
Does Basiq use AI?
No AI feature is named on the pricing page. Basiq describes data enrichment that classifies the nature of transactions and affordability reports, without naming models. Ask for a demonstration on realistic transaction data if you need to judge accuracy. Ask which parts of the product use any machine learning.
What is the Basiq data holder offering?
It is a product for institutions that expose data, covering authorization, compliance, consent management, security and continuous reporting. The page says set-up and ongoing fees apply and lists no amount, so request a quote. The vendor shows no amount for this product on the pricing page, which makes a written quote necessary before planning.
Who owns Basiq?
The pricing page identifies Basiq Pty Ltd as a wholly-owned subsidiary of Cuscal Limited. Headquarters were not stated on the pages we read, though coverage and pricing relate to Australia. Confirm the contracting entity and governing law in your agreement.