In this article:

• What does PSD2 mean to me as a Spiir user?
• Why can't I see my savings or loan accounts anymore?
• Is PSD2 safe? 
• When does PSD2 come into effect?
• Do you have any questions? 

PSD2 is the EU’s new payment directive set to make the world of personal finance easier and safer for you.

One of the main ideas behind PSD2 (Payment Service Directive II) is to remove banks’ monopoly on financial data and allow all licensed companies to create innovative services on top of bank data.

This means you are in full control of your financial data. And you are free to share your bank data with other companies that can deliver you a better experience when it comes to managing your money or make personal finance more simple and easier for you.

So in short, PSD2 is great news for you and your money 🙌

What does PSD2 mean to me as a Spiir user?

Well, not that much. You'll still be able to use Spiir as you do today and enjoy our many features.

But in order for us to fetch your transaction data and give you an overview of your finances and spending, you’ll need to login to your bank from Spiir again to keep the connection between your accounts and Spiir active.

You'll have to login to your bank once every 90 days to confirm that we have your consent to fetch your financial data (from July 25, 2023 this will be increased to every 6 months). We'll send you a notification or email when it's time to login again. And you'll also get a message in the app 😊

Why can't I see my savings or loan accounts anymore?

Unfortunately, banks are only required to give access to your payment/checking accounts with PSD2. That means you might not be able to access your savings or loan accounts in Spiir anymore 😕

Is PSD2 safe? 

Yes!

In fact, PSD2 is made to keep your financial data safer than ever. With PSD2, you have the freedom to give other companies access to your financial data, like your account information and transaction data. But only if they have your explicit consent. Plus, companies need to live up to legal requirements set by the financial authorities before they can provide any financial services to you.

In other words. You are always in full control of your financial data with PSD2. Just like you are now with Spiir. You can read more about our safety and how we protect your data and personal information.

When does PSD2 come into effect?

The 14th of September 2019.

In general, we’re working hard to make everything about PSD2 an easy and smooth experience for you. So, if you experience any problems after the 14th of September, we would love to hear from you.

Do you have any questions? 

Feel free to reach out to us at support@spiir.dk if you have any questions – we love to help 😃