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Payment Services Directive 2 – PSD2

What is PSD2?
The Payment Services Directive 2 (PSD2) is a new European Union law which was introduced in January 2018. PSD2 changes will enhance customer protection, offering you greater control over your payments when making purchases and using banking services online. These changes are happening across the European Financial Services industry and comes into effect on 14th September 2019.
What are the benefits of PSD2?
  • Enhanced protection against fraud, making it more secure for you to use electronic services such as buying online and using your online banking service.
  • Innovative ways to pay for goods and services, providing more control and an easier way to manage your online accounts.
What are the changes?
1. Strong Customer Authentication (SCA)
Strong customer authentication is a process that validates the identity of you the user, where a payment service or transaction is taking place.  From September additional security will be applied when making payments or accessing your online banking services thus reducing the risk of fraud.   We will be sending you notifications to confirm that you have authorised payments, logged in or wish to make changes to your accounts.
2. Third Party Providers (TPP)
PSD2 now allows you to use Third Party Providers (TPP) to make payments on your behalf or access your online accounts. Only with your consent can a TPP make payments directly from your online payment account. If you do not want to avail of these TPP services, you do not have to. We will not share your account information unless you have given consent to a TPP.
The services they provide are as follows:
  • Account Information Services Provider (AISP): These services can gather information from all of your online payment accounts and provide you with a single view 
  • Payment Initiation Services (PIS): When shopping online you can allow a Payment Initiation Service Provider (PISP) to initiate a payment directly from your bank account. PISP is an alternative to using your debit or credit card.

What happens next?

Strong Customer Authentication (SCA)

In your last quarterly statement, we included a leaflet explaining the changes that are happening in September as a result of the European Union regulation called the Payment Services Directive (PSD2). When PSD2 commences it will provide you with enhanced account security when using banking services online. These changes are happening across the European Financial Services industry and this email is to remind you that this comes into effect on 14th September 2019. 

The initial change you will encounter is that you will be asked to reconfirm access to continue using your An Post Money mobile app and online banking.  This is a requirement under the regulation and confirmation will be requested every 90 days.

To do this, you may need your user ID and follow the standard login process. When you log in you will be sent a secure code by SMS to the mobile phone number you have registered for your account and you will need to key this code in order to complete your login. This additional security task reconfirms your identity and protects your account. Your mobile app will provide you with a reminder message to complete this process the next time you use it, after 14th September.

If you do not use the An Post Money mobile app, you will be prompted at your next log in to online banking from the 14th September.

TPP Registration & Set Up (Optional)

Token App Steps: 

  1. Download Token Open Banking app from Apple or Google Stores, this is what the app looks like.      Open banking with An Post Money      
  2. Open the app on your smart phone and select ‘Sign Up’
  3. Choose the ‘continue with email’ option
  4. Enter Details (First name, Surname, Email, etc.)
  5. Choose security option – Face Recognition or Finger Print for supported devices, device pass code for non-biometric enabled devices.
  6. A verification email will then be sent to the email address you provided.
  7. Open the verification email from Token (don’t forget to check the ‘junk’ folder if not received) and select ‘Verify your Account’. This will take you to a webpage.
  8. The webpage will confirm your account is active and will redirect you back to the Token app
  9. Login to the token app again and read and confirm consent for Token to grant access to data and payment you authorise from your account.
  10. Now you are set up. 
In order to link Token to your an Post Account, you will need to also complete the below steps
  1. Tap Link Account
  2. Search for An Post Money either by using country drop down or typing in ‘An Post’ to search then select ‘An Post Bank’ from the dropdown. This opens the An Post Login screen
  3. Enter An Post User ID as if you were logging into the An Post website, tap ‘Next’.
  4. Enter the selected digits from your An Post Online PIN.
  5. You will then see a confirmation message advising you have successfully linked your account.
  6. Sign up is complete, you are ready to start using TPP!


Who are Token? 
Token are a third party supplier who has partnered with An Post to provide Open Banking services to Third Party Providers.  Token provide the channel through which these TPP can provide services to An Post customers.are using to facilitate open banking and allow you to use a TTP. 

Why do I need to use Token to use TPP? 
Token provide the infrastructure for TPP to offer services on your accounts, like payments and account information.

I don’t want to use a TPP?
Don’t worry, you do not have to use a TPP. We can only share your information if you provide consent. If you do decide to use a TPP and then change your mind, you can also revoke that consent and stop using a TPP. 

Do I have to use Strong Customer Authentication (SCA)? 
Yes, all customers are required to use SCA under PSD2 which is a European law.

I can’t find my user ID, how can I get it? 
Your user ID is on your original account opening letter. If you do not have it to hand, we can give it to you over the phone on (01) 705 8000.

My mobile number is incorrect, what do I do? 
Don’t worry, you can update your mobile number by calling us on (01) 705 8000.