New Regulations PSD2 security enhancements
Due to impending new regulations coming into force on 14 th September 2019 called the PSD2(Payment Services Directive 2), we will be introducing some security enhancements to your CU247 Secure Online Banking experience this month. These changes are being introduced to our website and mobile apps in order to protect members from increased instances of online fraud. This added security is known as Strong Customer Authentication (SCA). To meet regulation requirements, please register your mobile number after login, as SCA requires a verification code to be sent to you in some circumstances.
There will be a new version of both the android and iOS Mobile Apps – to cater for these changes you should ensure you accept updates to your app.
How will this affect me?
You will logon and transact as normal but you may be required to provide an additional verification code supplied via text message.
Strong Customer Authentication (SCA)
The following actions will require SCA from 14th September 2019 however some may be introduced earlier:
- Logging in to your Online Banking
- Related Member Transfer
- SEPA Credit Transfer
- Viewing account transactions older than 90 days
- Every 90 days you will be required to use a verification code to log in
When we communicate with you we will never ask you for your PIN and we will never advise you to transfer money out of your account. Should you encounter any suspicious requests you should report it to us immediately.