PSD2 stands for Payment Service Directive 2, the revised Payment Services Directive. The regulatory
framework aims to develop the market for electronic payments and create better conditions for safe and efficient payments.
Through PSD2, new players are introduced to the payment market, both payment initiation service
providers, and account information service providers.
Swedbank and other banks in accordance with the Payment Services Act, have the obligation to provide
payment initiation service providers’ access to the customer´s payment accounts (accessible online),
if the customer has given its consent.
An overview of the customer’s rights to make payments (including card payments) in Europe is provided in the European Commission’s information leaflet.
Attention! Swedbank is expanding the payment initiation service by offering the opportunity to initiate payments from AS LHV Pank in Estonia as well. Private and business clients who have accounts in:
can initiate payments from the accounts held in these banks when transferring money to a bank operating in the same country by using the internet bank of Swedbank in Estonia.
Important! Even though you can fill in the payment form in the environment of the Swedbank Internet Bank, the payment order will be executed by the bank that holds the account from which the payment was initiated.
Before using payment initiation, onboard your other bank’s account to the Swedbank Internet Bank and/or check if access to it is still valid. Relevant instructions and additional information on the payment initiation service can be found here.
Attention! Swedbank is expanding the account information service and will be providing other banks’ statements in the Swedbank Internet Bank. Private and corporate customers who have accounts in:
will be able to see the balances and statements of these accounts in their Swedbank internet bank environment. Customers can also manage their consents, given to view this information, in the Swedbank Internet Bank. Important information about the Account Information Service can be found here.
Companies wishing to become third party providers, must apply for, and obtain, a permit or be
registered by the Financial Supervisory Authority. Customers should always be careful when
granting information and check the terms of the agreement with the third party provider.
All access to account information requires the customer's consent. When the customer leaves the
consent to the account information service provider the request will be sent to Swedbank to
authorize the asset. In connection with this, the customer will also see what information will
be provided and for how long. The customer verifies the approval by Smart-ID, mobile-ID,
ID-card or PIN-calculator. Customers can see their given consents under Menu item “Everyday banking”.
You can choose if you want to see only the balance of your account(s) or also an account statement.
In the latter case, all information reflected in the account statement over the last two years
will be sent to the service provider. The payment service provider does not have the right to
use the data for the purpose for which the person has not given his consent.
A company that is licensed by The Financial Supervisory Authority has, with the customers consent,
legal right to the customer’s payment account information. We as a bank do not have an agreement
directly with the third party providers and cannot deny access more than in certain specific cases.
The bank only transfers data to a third party provider after the customer has given its approval.
Legislation prohibits third party providers’ from using the data for purposes other than the one
for which the customer’s approval has been granted, unless the customer has specifically approved
that the data may be used for other purposes.
If a payment initiation service provider has acted incorrectly and by that caused a loss to the
customer, it is the provider of the payment initiation service who is responsible. However, the
customer must first report the transaction to the bank that provides the account from which the
payment has been made.
If you have any questions or suggestions, send a bank messages. We value your opinion!