PSD2 (The Second Payment Services Directive)

Since 2009 when the Payment Services Directive (PSD) was first mandated, the retail payments market has experienced significant technical innovation, with rapid growth in the number of electronic and mobile payments and the emergence of new types of payment services in the market place.

The revised or second Payment Services Directive (PSD2), is a directive that aims to drive increased competition, innovation and transparency across the European Union (EU) and European Economic Area (EEA) payments market, while also enhancing the security of internet payments and account access.

There are some important upcoming changes about using our app and your Bank of Ireland debit and credit card to shop online.

Our new app is being introduced in phases and will come with enhanced security known as Strong Customer Authentication (SCA). You will need this when you access mobile banking, authorise certain payments or wish to make changes to your accounts.

In time, these additional security steps will apply to certain transactions you make with your debit and credit card online.

More information on our new app can be found here.

You can find out more about your rights when making payments in Europe here.

This leaflet is also available to download in an Easy to Read format here.

You can view our online channel performance here.

A Guide to Upcoming Changes

We have amended our terms and conditions to take account of upcoming changes.
A summary of which can be found in the attached brochure of changes.

This brochure is also available to download in an Easy to Read format here.

PSD2 & Open Banking Services

Regulations were introduced to offer you greater control over your data, giving you the option to securely share your online payment account information and make payments directly from your payment account by using Third Party Providers, known as TPPs. These are known as Open Banking services.

More information on these services can be found here.