Dear Member,
The second Payment Services Directive or PSD2 is a European law which comes into full force on 14th September 2019. PSD2 aims to make it more secure for you to make electronic payments when shopping online or using online banking services.
Changes are being introduced to our website and mobile apps in order to protect our members from increased instances of online fraud. This added security is known as Strong Customer Authentication (SCA).
If you wish to transact on CU247, you will be asked to register your mobile number as SCA requires a verification code to be sent to you in the following circumstances:
- Accessing accounts online through your PC, Tablet, Mobile, Apps.
- Accessing accounts at least every 90 days.
- When processing online transactions such as SEPA Credit Transfers.
- Statement history.
- Transaction log.
If you have previously registered your mobile number, you will be required to reconfirm it. There will be a new version of both the android and iOS Mobile Apps to cater for these changes so please ensure you accept updates to your app.
Remember: We will NEVER ask you for PIN or PERSONAL DETAILS. Please report any suspicious requests immediately to either of our offices.
Regulation
This is your ‘Framework Contract’ with us in relation to the particular payment account referenced below and for the purposes of the Regulations. View it here.