This is a European law that aims to ensure more competition and innovation when it comes to paying and arranging your financial affairs. The PSD2 law allows other companies to access your payment data. Banks are obliged to provide access. But only if you want to and have given explicit permission for it. Otherwise, no.
"}},{"title":"What will I notice?","richBody":{"value":"In the beginning, maybe not very much. But there will be new types of digital services and new payment methods in (online) stores. From start-ups but also from other companies. And from us, of course, because we are also working on developing new services for you. So that you can arrange your money matters even more easily.
"}},{"title":"What can ING share if I give permission to share my account details?","richBody":{"value":"We will then share your transaction details and your balance. You give permission for this per account: you choose which company gets access to which account.
Transaction data includes, but is not limited to:
Before you give permission to a company, check carefully whether you actually know the company and whether it is logical for them to ask for that permission. For example, because you want to use a service from the company for which they need that data.
"}},{"title":"What about my privacy?","richBody":{"value":"We are as careful with your data as ever. After all, we are a bank. So we only share them with other companies if you want them to, and only after your explicit consent. And if you give permission, we first check whether that company is also registered with one of the regulators, such as in the Netherlands with De Nederlandsche Bank (DNB). Not just once, but every time that company tries to gain access to retrieve information. And we also check whether the period of your permission to that company has not yet expired.
Companies may only use your data for the purpose for which you have given permission. The Dutch Data Protection Authority checks whether companies comply with agreements.
Handle your data with care. For example, first check the terms and conditions and privacy statement of the company with which you want to share your data. So that you know how they will handle your data.
"}},{"title":"What should I pay attention to?","richBody":{"value":"PSD2 provides new services that can make arranging your money matters easier. But giving access to your Business Checking Account is something you need to handle carefully. Before you give permission to a company, check carefully whether you actually know the company and whether it is logical for them to ask for that permission. For example, because you want to use a service from the company for which they need that data.
When asking to make a payment, check whether the amount and description are correct.
Also check the terms and conditions and privacy statement of the company you want to share your data with. So that you know how they will handle your data.
In addition, the new PSD2 regulations can be a reason for criminals to send phishing emails. So be alert to that.
"}},{"title":"What's in it for me?","richBody":{"value":"PSD2 allows other companies to gain access to your payment details. Banks are obliged to provide access. But only if you want to. Otherwise, no.
You will soon be able to give three types of access to another company:
If you give permission to share your data, this can have advantages. Exchanging information will become easier and there will be new services that will help you to arrange your money matters easier. From start-ups and also from other companies.
And from ING, of course, because we are also working on developing new services for you. So that you can arrange your money matters even more easily.
As a business, PSD2 allows you to consider offering new products and services that use customers' balance or transaction data. You can also offer payment services. You must apply for a license from the Dutch Central Bank and meet extensive guidelines and safety requirements.
"}},{"title":"How do I give ING access to data from other companies?","richBody":{"value":"If you wish, you will soon be able to see the details of your (Business) current accounts from other banks in your trusted ING ING App or in My ING. This will give you a much better overview. To do so, you must first give permission for this in the app or in My ING.
When the time comes, we will let you know and make sure it is clear to you exactly how it works. And you will always have to give permission for it first.
You can imagine that this is just the first step. Getting a grip on your money is already nice, but we are also happy to help you with other new possibilities in the future.
"}},{"title":"How do I give other companies access to my ING Business current account?","richBody":{"value":"That is different for each company. But after you have given the company permission to share data with that company, you must always log in to My ING or the App (similar to iDeal) yourself to let us know that you have given permission to that company.
There are 3 different services that you can give permission for:
1. To request your transactions and balances of your current and credit card accounts (Account Information Service)
For example, an app that clearly shows you what you spend your money on. We will then share your transaction details and your balance. Transaction data includes, but is not limited to:
2. For payments made via another company's platform (Payment Initiation Service)
You can instruct webshops or payment apps to make payments from your Business Payment Account at ING. You can always give the final approval for such a payment yourself in My ING Business. So another company cannot make payments from your account without your permission.
3. To provide information: another company may inquire before a transaction whether there is enough money in your ING Business Payment Account for that transaction to carry out the card transaction. (Balance check)
You can give permission to a company to check that. ING will then only indicate with a yes or no, whether there is enough money in your Business current account.
"}},{"title":"I don't want to share data. What should I do?","richBody":{"value":"Nothing at all. Because you only have to do something if you do want to give permission. Your account details will not be shared if you do not give permission.
"}},{"title":"Can I withdraw this consent at any time?","richBody":{"value":"Yes, this is possible. The initiative to share payment details is always up to you. And you are therefore always the one who can withdraw this permission. You then withdraw your permission from the company to which you have given permission.
"}},{"title":"Is my personal data still safe with ING?","richBody":{"value":"We are as careful with your data as ever. After all, we are a bank. So we only share them with other companies if you want them to, and only after your explicit consent.
And if you give permission, we check whether that company is also registered with one of the regulators, such as in the Netherlands with the Dutch Central Bank (DNB). Not just once, but every time that company tries to gain access to retrieve information. And we also check whether the period of your permission to that company has not yet expired.
Companies may only use your data for the purpose for which you have given permission. The Dutch Data Protection Authority checks whether companies comply with agreements.
Handle your data with care. For example, first check the terms and conditions and privacy statement of the company with which you want to share your data. So that you know how they will handle your data.
"}},{"title":"Where does it say which links I have had made?","richBody":{"value":"All links you have given permission for can be found in My ING Business. You can also get there from the ING App via 'Profile'- 'Settings'- 'Links'- 'Linked to your accounts'.
"}},{"title":"Can I withdraw a consent?","richBody":{"value":"Yes, this is possible. The initiative to share payment details is always up to you. And you can always withdraw this permission yourself. This can be done within My ING Business or at the company you have given permission to. And this can also be done in the ING App via 'Profile'- 'Settings'- 'Links'- 'Linked to your accounts'.
"}}]},{"componentType":"accordion","accordionList":[{"title":"Can I set my own daily limit for payments via other parties?","richBody":{"value":"Yes, you can do this in My ING via 'Profile'- 'Your banking'- 'My digital daily limits'- 'Daily limit payment initiation service'
"}},{"title":"What can I do if I'm not satisfied with the third-party services?","richBody":{"value":"We recommend contacting this third party. If you suspect fraud or have suffered damage, you can contact us.
"}},{"title":"Can I also see other ING products at another bank or service?","richBody":{"value":"No, you can't. PSD2 is only about payment services.
"}},{"title":"How do I know if a payment attempt fails?","richBody":{"value":"As soon as you transfer money, your order will first go to My ING or the ING App. There you can confirm the payment. If you don't recognize it or change your mind, you can refuse the assignment. If you confirm but something goes wrong, we will immediately notify you in My ING or in the ING App.
"}},{"title":"Can I see the accounts for which I'm authorised with another bank or service?","richBody":{"value":"No, you can't.
"}},{"title":"Can an authorised person on my account also share my payment information and show it elsewhere?","richBody":{"value":"No, you can't.
"}},{"title":"Can I also view our joint account at another bank or service?","richBody":{"value":"Yes, to share your account details with another company, only one account holder needs to give their consent. So it's good to make agreements about this together.
"}},{"title":"Can my administrator select my accounts to show elsewhere?","richBody":{"value":"Yes, your administrator can request these services on your behalf.
"}},{"title":"Why does ING share this information with other companies? Surely a bank has an obligation to handle its customers' data with care?","richBody":{"value":"ING certainly has a duty to handle your data with care. Under PSD2, ING is required to share all transaction information at your request and with another company designated by you.
That company must also be registered with one of the regulators, such as in the Netherlands with the Dutch Central Bank (DNB). And such a company is not allowed to use your data for purposes other than those for which you have given your consent. The Dutch Data Protection Authority supervises this.
"}},{"title":"I want to use a PSD2 service from a third party. Is that possible with my ING App?","richBody":{"value":"Yes, you can.
"}},{"title":"Can I initiate a recurring payment from a third party?","richBody":{"value":"Yes, you can.
"}},{"title":"Can I initiate bulk payments through the Payment Initiation Service?","richBody":{"value":"Yes, you can.
"}},{"title":"If I initiate a payment through the payment initiation service, can I have several people confirm it?","richBody":{"value":"Yes, you can.
"}},{"title":"Can I set transaction limits per user in the Payment Initiation Service?","richBody":{"value":"No, the payment initiation service is subject to the same transaction limits per user as in My ING Business.
"}},{"title":"Which persons or entities within my organisation can set-up PSD2 services?","richBody":{"value":"The legal representative and the independent authorised representative.
"}}]},{"componentType":"paragraph","richBody":{"value":""},"textLinks":[{"url":"https://developer.ing.com/openbanking/","text":"Developers and payment services can find all the information they need to connect to ING's PSD2 related API's on ING's Developer Portal."}]},{"componentType":"linkList","iconTitle":{"title":"Digitaal bankieren"},"textLinks":[{"url":"/zakelijk/digitaal-bankieren/app","text":"Mobiel bankieren"},{"url":"/zakelijk/digitaal-bankieren/mijn-ing","text":"Internetbankieren"},{"url":"/zakelijk/digitaal-bankieren/service","text":"Service"}]}]}}}