Staying Safe With Open Banking

Important Security Advice for Our Customers (Ireland & EU)

We follow the requirements of the Revised Payment Services Directive (PSD2) and guidance from the European Banking Authority (EBA) to help keep your financial data safe. Here’s how you can protect yourself while using our Account Information Services.

1. Protect Your Banking Credentials

Under PSD2, access to your account requires Strong Customer Authentication (SCA) — usually two factors such as something you know, have, or are. 
Never share your banking passwords, PINs, or security codes with anyone.
We will never ask you for full login details or SCA codes by email, phone, or SMS.
If a message pressures you to act urgently, treat it as suspicious.

2. Be Alert to Fraud & Scams

The EU has strengthened payment security to reduce fraud under PSD2. 
Watch out for:
•    Emails or texts pretending to be from your bank or a service provider (phishing/smishing)
•    Fake websites asking you to log in
•    Unexpected calls requesting financial information

Tip: Always access your online banking or our service directly—do not follow unexpected links.

3. Only Connect Through Trusted & Secure Channels

PSD2 requires that AISPs (like us) are authorised and follow strict security rules. Ireland implements this through the Payment Services Regulations 2018 (S.I. No. 6/2018). 
Check that the website/app shows https:// and a secure padlock symbol.
Only grant consent to providers you trust and recognise.
You are always in control and may withdraw consent at any time.

4. Keep Your Devices Secure

EU regulators emphasise strong operational and security risk controls for all payment service users and providers. 
Install system and app updates promptly.
Use anti‑virus or anti‑malware tools.
Enable biometric login or two‑factor authentication where available.

5. Monitor Your Accounts Regularly

The EBA requires PSPs to report payment fraud statistics to help monitor risks across the EU. 
Review your bank transactions frequently.
Report unknown or suspicious activity to your bank immediately.
You are protected under PSD2 rules for unauthorised transactions (typically liability up to €50 unless acting fraudulently or with gross negligence). 

6. Know Your Rights

PSD2 and Irish regulations provide strong consumer protections:
•    SCA for secure access and data sharing. 
•    Access to account data only with your explicit permission.
•    Ability to end service contracts after 6 months free of charge. 

7. If You Suspect Fraud

If you think you’ve been targeted:
•    Contact your bank immediately.
•    Change your passwords.
•    Let us know so we can help protect your access.
•    Report scams via national fraud reporting services (e.g., An Garda Síochána or FraudSMART).