General Information about PSD2 - iOS-Version / FAQs to PSD2 - Outbank Helpdesk

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General Information about PSD2

Since 14. September 2019 the new European Commission Payment Services Directive (PSD2) is in force.

What affects does PSD2 have on the usage of Outbank and other multi banking apps?

  • Since September 2019, 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.