The new Payment Services Regulations 2017 (also known as PSD2) aim to promote innovation, competition and improved security and reliability. These come into effect from January 13th 2018.
What will these changes mean for you?
A key change makes it possible for you to authorise a regulated third party payment service provider to access your account information.
How can you make use of these new facilities?
You can only grant a third party access to the account information you can view. You need to register for online access to be able to request authorisation of a third party.
In order to request third party account access you must call Card Services, who will be able to assist with your request.
Any third parties you wish to authorise must appear in the European Banking Authority's register of regulated payment service providers.
It is important to emphasise that you must not share your login ID and password with anyone. This important security condition is part of the card agreement we have with you.
You can revoke the authorisation given to a third party for account access by contacting Card Services.