Banking in the Netherlands
What is iDeal?
What happens with my money if my bank goes bankrupt?
Can I pay in a shop by using my mobile phone?
What is PSD2?
The Payment Services Directive (PSD) regulates payment services in the European Economic Area (EEA). Originally introduced in 2007, the revised version that came into force in 2019 is known as PSD2.
The most important changes for consumers are:
- Webshops are allowed to charge additional costs for the payments, but only the costs that the webshop has to make for that payment.. An exception has been made for credit cards. In addition it is allowed to charge extra costs to discourage use of inefficient payment methods.
- Access to your banking account by third parties. The bank must give third parties access to your bank account under the condition that you have given permission for that. This third party must have permission from the Dutch banking authority (De Nederlandse Bank) or a banking authority from another EU country. An example of this is a party that offers digital expenditure books. Such a company has direct access to all your banking accounts, even if you have accounts with several banks (if you give this company permission to have access to all your bank accounts). In such a way you can get a complete overview of your income and expenses.