Since 14. September 2019 the new European Commission Payment Services Directive (PSD2) is in force.

What affects does PSD2 have on the usage of Outbank and other multi banking apps?

• Since September 2019, you need to regularly authenticate yourself in the online banking of your bank by entering an additional PIN / TAN (2-factor authorization).
• According to PSD2, this authentication needs to be done at least every 90 days – but depending on the bank’s decision, this may also be more frequently.
• Additionally, you need to authenticate yourself in Outbank as well (as with all other multi-banking apps), so that the app can retrieve your financial data.

• Outbank has no control over how often this authentication takes place.