In September, the new European Commission Payment Services Directive PSD2 will enter into force.
What does it mean?
- By September at the latest, you need to regularly authenticate yourself in the online banking of your bank by entering an additional PIN / TAN (2-factor authorization).
- According to PSD2, this authentication needs to be done at least every 90 days – but depending on the bank’s decision, this may also be more frequently.
- Additionally, you need to authenticate yourself in Outbank as well (as with all other multi-banking apps), so that the app can retrieve your financial data.
Outbank has no control over how often this authentication takes place.
You can find further information about PSD2 and its impact on Outbank in our blogpost “Why there can occur problems in Outbank currently“.