EU Payment Services Directive 2
We are making changes to our online services to align with new European banking regulations covered under PSD2. Payment Services Directive 2 (PSD2) – which comes into force on September 14th 2019 – will bring additional safety and security to your online banking.
These changes are being introduced to protect consumers from increased instances of online fraud. This additional security is known as Strong Customer Authentication (SCA) and will be introduced in both our browser-based services (i.e. CU Online +) and our Mobile App (CU Anywhere).
MFCU Mobile App
We have introduced a brand new Mobile App to cater for these changes, please download this app to continue to manage your account on your mobile device. Learn more and download the app here.
Strong Customer Authentication
The following actions will require SCA from 14 September 2019.
- Logging in to your Online Banking
- Setting up new payees
- Viewing transactions older than 90 days
- Viewing e-statements
- Viewing documents older than 90 days
How will my experience change?
As part of these improved security measures you will logon as normal but you may be required to provide additional authentication via your phone.
When we communicate with you we will never ask you for your card number or PIN, and we will never advise you to transfer money out of your account. Should you encounter and of the above requests you should report it to us immediately.
This information – and any further updates – can be viewed by logging into your online banking here.
You’ll find a step-by-step guide to the new features of PSD for CU Online + here.
You’ll find a copy of our Framework Contract here.