Payment Services Directive (PSD2)

PSD2 and you

A new European regulation, Payment Services Directive 2 (PSD2), came into force on 14th September 2019.

This regulation affects the whole banking industry, and changes the way you operate banking facilities, including our CUOnline service.

PSD2 is designed to further protect you when banking online. Increased security measures (known as Strong Customer Authentication) are placed on several online account activities such as setting up new payees, certain payments, etc. You may be familiar with this from other sites, as it will be similar to “Two Factor Authentication”, where a One Time Passcode (OTP) is sent to your mobile device to complete an action.

To make this update easier, we would ask that you check that your mobile number on file is up to date. You can do this in the “Personal Details” section of your CUOnline+ account and can amend if necessary. Alternatively, you can check in your local Mallow Credit Union branch: Mallow, Millstreet, Ballydaheen, Doneraile, Dromcollogher, Buttevant, Charleville, Broadford.

If you have yet to register for Mallow Credit Union’s online banking service, CUOnline, you can do so here.