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Full Title or Meme

An attempt by the EU to open competition among banks by loosening standards and altering the risk model.


On 2015-10-08 the European Parliament voted to pass the Payment Services Directive 2 (PSD2). A simple description of the program from the Starling Bank[1] gives a good non-technical description.


Most of the problems from the user perspective are described in the UK Open Banking page on this wiki.


Don't enable PSD2 on any of your banks, you are much better protected by giving the merchant your credit card number.


  1. Anne Boden, Explaining PSD2 without TLAs is tough! (2018-01-12) Starling Bank