We will be introducing some improvements to your Online Banking experience over the coming months.

These changes are in preparation for compliance with European banking regulations - Payment Services Directive 2 (PSD2) - which come into force on September 14th 2019. These regulations bring additional safety and security to your online banking.

These changes are being introduced in order to protect consumers from increased online fraud. This additional security is known as Strong Customer Authentication (SCA) and will be introduced in both our browser-based services and Mobile App

Mobile App

There will be a new version of the Mobile App to cater for these changes and you may be prompted to update your app.

Mobile phone number

It is imperative that the mobile phone number that we have registered for your account is correct. To view the number registered to you, click the Personal Settings option in Online Banking. If any details are incorrect please contact the Credit Union.

Strong Customer Authentication (SCA)

The following actions will require SCA from 14th September 2019 however some may be introduced earlier:

1. Logging in to your Online Banking
2. Setting up new payees
3. Viewing transactions older than 90 days
4. View e-Statements
5. View 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.

Security Advice

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 any of the above requests you should report it to your Credit Union immediately.

The revised Payment Services Directive (PSD2) is a piece of EU legislation which entered into force in 2015. Among the primary objectives of PSD2 were:

• To protect consumers.
• To give people and small businesses the ability and choice to safely and securely share their financial data in order to get access to better financial services and products.

Being an AISP (Account Information Service Provider) means that a company can ask an individual or business for authorisation to connect to a bank account and use that bank account information to provide a service.
The service provided by an AISP is a regulated payment service.

Businesses who are AISPs are authorised to access bank account information on a ‘read only’ basis. This means that the AISP has access to the account information but will never be able to complete any transactions on your bank account.

Truelayer (Ireland) Limited is the AISP used by the Credit Union to enable Members to provide bank account information digitally, in support of loan applications. Truelayer (Ireland) Limited is registered as an Account Information Service Provider (AISP) with the Central Bank of Ireland (Institution code C433487).
If an AISP is registered in any EU member state, it can provide Account information Services (AIS) to consumers and businesses in any EU member state.

This Document explains how the overall process works

This service eliminates the effort of collecting, printing and returning bank statements to the Credit Union. Instead, your bank account information is transferred electronically to the Credit Union on your behalf (but only when you give authorisation to do so).

Truelayer (Ireland) Limited will access your account data only once (immediately after you have given authorisation).

Truelayer (Ireland) Limited will access your account data only once (immediately after you have given authorisation).

Truelayer (Ireland) Limited will hold your bank account information on their systems for a maximum of one hour after accessing your bank account. After which, your bank account information will be deleted by Truelayer (Ireland) Limited on their systems.

Truelayer (Ireland) Limited will share your bank account information with the Credit Union (after authorisation by you) via the cloud-based loan application assessment system used by the Credit Union.

Truelayer (Ireland) Limited and Ballyfermot Inchicore Credit Union are two separate Data Controllers. Where Truelayer (Ireland) Limited shares bank account information with Ballyfermot Inchicore Credit Union it is based on consent which you provide to Truelayer (Ireland) Limited during the bank account information retrieval process to facilitate the loan application process, when you the Member authorise Truelayer (Ireland) to do so.

Truelayer (Ireland) Limited and Ballyfermot Inchicore Credit Union are two separate Data Controllers, therefore the Member will be able to access their rights separately with each entity. Ballyfermot Inchicore Credit Union’s privacy notices are available here. Truelayer (Ireland) Limited’s privacy policy is available here

As a Member, this is a new optional service offering directly for you by Truelayer (Ireland) Limited to reduce the time taken to process loan applications and to enhance the loan application process.

As a Member, this optional service is available to you directly at no extra cost.