Log in Home About us Sustainability Investor Relations Our offering Press and news Career sebgroup.com Legal and regulatory information Legal notice The Payment Services Directive, PSD 2 The Payment Services Directive, PSD 2 PSD 2 (the Payment Services Directive 2) is the EU’s second Payment Services Directive and regulates accounts and payments for both companies and private persons. You can read here about the Payment Services Directive and how it affects you. The Payment Services Directive in brief The Payment Services Directive is a broad set of rules that covers several areas of accounts and payments. The biggest new feature is that you as a customer will be able to share your account information and make payments through so-called third party providers. This means that licensed companies have the opportunity to retrieve your account information from us and to make payments from your SEB account, under the condition that you have given your approval. New, secure standards With the enactment of the Payment Services Directive, new and standardised ways for third party providers to operate in the payment services market are being introduced, both with respect to administration of payments and account information. This means that we at SEB will offer you as a customer the opportunity to use third party providers in a secure and standardised manner. What is a third party provider? A third party provider can, for example, be a company or a bank that offers payment or account information services. The third party provider’s services use transaction accounts with other banks. For example, a third party provider may offer a company to pay invoices and view account information in another interface than our own. To be able to offer these types of services, the third party provider must have a licence from the Swedish Financial Supervisory Authority or equivalent authority in an EU/EEA country. The Payment Services Directive and private customers To be able to use services from a third party provider, you must always give your approval. If you do not give your approval, the third party provider will not be able to retrieve your account information or make payments for you. Once you have approved the service, we will share your account information with the third party provider or make the payment requested by the third party provider. After we have shared your account information, we no longer have control over it or responsibility for how the information is used. The Payment Services Directive and companies Starting on 14 May 2019 your company can share your account information and make payments via third party providers. Reach out to your SEB contact if you have any questions.. To be able to use the service, your company always needs to give its approval. As soon as your company has approved the services, we will share your company’s account information with the third party provider. Thereafter will no longer have responsibility for or control over how the information is used. Questions and answers What is an EU directive? An EU directive is a type of law directed at the EU's member countries. When a new directive is enacted, the member countries must adapt their laws according to the directive within a certain period of time. This is in contrast with an EU regulation, which directly has the force of law in all of the EU member countries. What is the purpose of the Payment Services Directive, PSD 2? The goal of the Payment Services Directive, PSD2, is to accelerate the pace of innovation, competition and security in the European account and payment services market. The lawmakers also hope that the Payment Services Directive will increase harmonisation of account and payment services within the EU. When does the Payment Services Directive, PSD 2, take effect? Large parts of the Payment Services Directive took effect already on 1 May 2018. However, the requirement to give third party providers the ability to retrieve account information and execute payments will not take effect until 14 September 2019. What criteria must a company meet to be third party provider? To be a third party provider within the framework of the Payment Services Directive, a company must apply with and be approved by its local regulatory authority. In Sweden this is Finansinspektionen (the Financial Supervisory Authority). Can all companies access my account information as a result of the Payment Services Directive, PSD 2? No, you always need to give your approval for a company to gain access to your account information. Moreover, in order for you to be able to give your approval, the company must be approved by a European regulatory authority. How do I know if a third party provider is trustworthy? All companies that want to operate as a third party provider within the framework of the Payment Services Directive must first be approved by a regulatory authority in the EU/EEA. In Sweden this is authority is Finansinspektionen (the Financial Supervisory Authority). Which SEB accounts are covered by Payment Services Directive? Only transaction accounts are covered by the directive, such as "Privatkonto", "Företagskonto" and "Enkla sparkonto". Contact Customer service Private Banking Quick links Career Legal Legal Notice Privacy Policy Authorisation The Payment Services Directive, PSD 2 CSDR – Legal disclosure Principles for shareholders engagement Candidate Privacy Policy Shareholders rights directive, SRDII Settings How we use cookies © Skandinaviska Enskilda Banken AB (publ) Cookies on our website We use cookies that in different ways make it easier to use our pages and for us to understand how the website is used. A cookie is a small text file that consists of letters and numbers that the website saves on your device. The cookie acts as a technical support that facilitates your use of this website. The cookies are sent from SEB or from third parties and are stored differently depending on the type of cookie. You can set your cookie settings below or find out how you can change them via the link below. Read more about cookies and how we handle them Accept all cookies Necessary Necessary cookies are required to make our website functional, to maintain security and to save certain features and cannot be deselected. Always on You can set your browser to block these cookies, but parts of our website will then stop working. Within necessary cookies there are also cookies used to save settings such as language selection or whether we shall pre-fill your information in a form. Optimisation Optimisation cookies provide us with analytical information so that we can improve how our website works. Off These cookies help us among other things to see which pages are most, or least, visited and how visitors move on our website. We use cookies from Adobe and AppDynamics to collect information for these purposes. Without these cookies, our possibilities to develop our services are reduced, but the functionality of the website is not affected. You can choose to opt out from these cookies. I consent to given settings. Save above settings Accept all cookies