From today, great changes in online banking. PSD2 enters the game

Today is very much happening momentous eventwhen it comes to how to use online banking. Changes introduced by the EU directive PSD2 (Payment Services Directive 2) we will all feel from this Saturday, September 14. Regardless of whether you log in to your bank account on a daily basis or just pay contactlessly for small purchases – get ready for relevant news.

The first of the changes introduced today concerns contactless transactions. From now on, some of these transactions below PLN 50 will require a PIN. This will not be required for each payment, however, be prepared for the fact that every fifth time the terminal will ask you for this form of security. Everything for your good and safety – in this case it is worth to trust the EU bodies.

Moreover, security works already todaywhich will prevent thieves from stripping your account in the blink of an eye if you didn't realize that your card was stolen. The amount of consecutive transactions without entering the PIN may not exceed EUR 150 (approx. PLN 650) or once – EUR 50 (up to now EUR 150).

Another important news is related to better security of access to bank accounts. You'd like to ask: why only now ?! From September 14, each person using electronic banking must be double verified at the stage of logging into their account. Payment operations and all account operations performed through remote channels must also be authorized.

The method of verification depends on the bank, but it must include at least two out of three elements based on the criteria of knowledge, possession and customer characteristics. In practice: when logging in and operations on the account, in addition to the password, you will have to enter the SMS code, password from the email or rewrite the token from the mobile application.

People who want to use it will also be pleased complaints rights. From now on, it will take 15 business days to finalize it, not 30.

At the same time, The Polish Financial Supervision Authority calls for increased vigilance in connection with the introduction of the new directive. Cyber ​​criminals can use this time to impersonate bank employees in an attempt to fool account access data. Remember that a bank employee will never ask you for authentication tokens or one-time passwords, nor will he request a password to access electronic banking. Watch out for SMS, emails and suspicious calls.

Source: KNF, inf. own