Now you can link your payment accounts from different banks to one place
Linking your payment accounts from different banks to SEB internet bank
Now you can link payment accounts from different banks to SEB Internet Bank. Manage all your finances in one place. The Internet Bank shows account details like IBAN, balance, and transactions from the last 180 days.
How does it work?
Giving access to your payment account
To access your payment accounts or make payments via a Third Party service, you must grant them access rights.
Authorizing long-term consent
Adding your account to a Third Party Provider requires confirming long-term Consent via SEB internet bank or their app. This Consent grants access to your payment account information for up to 180 days. During this time, they can see your IBAN, name, balances, and transaction list without extra confirmation.
Making payment via a Thrid Party Provider
To make payments using your account, the Third Party Provider will ask you to confirm the payment. You can confirm payments on the provider’s website, app, or in SEB Internet Bank. Sometimes, you will need to use your authentication device, for example, by entering PIN2 with the Smart-ID app. However, some payments, like transfers between your own accounts or small payments, may not need authentication.
For API Developers
Start using SEB Baltic Open Banking APIs today and enhance your business opportunities over the Baltics.
Develop once and use one integration to reach SEB customers in Estonia, Latvia and Lithuania.
Q&A
No. You will start to use Open Banking once you will give permission to a Third party provider’s app or website.
No – Open Banking is free. Banks are implementing this initiative based on EU Payment Service Directive 2 (PSD2) and this will not affect bank’s current pricing for the customers. However, some TPPs apps and websites may choose to charge you for their products and services.
To start using Open Banking services via Third Party Provider’s application, you will need to grant the Third Party Provider access rights to your payment account data and to confirm your choice via SEB internet bank or Third party provider’s application.
Once authenticated, you will be invited to confirm the following access rights:
List of accounts - To get list of your payment accounts – IBAN number and payment account name.
Confirmation of funds - To check for sufficient amount of funds on your payment account.
Consent - To create a long-term consent for accessing your payment account information and send it to you for authorization. Consent will become valid only after you will confirm it additionally.
Account information - To get your payment’s account information - IBAN number, account name, balances and list of transactions if only you have authorized the consent. Access will be available only after you will confirm consent additionally.
Payments initiation - To initiate a payment on your behalf from your payment account and get respective payment details and status only you have given such a permission.
For accessing your payment accounts’ data detailed information (IBAN number, account name, balances, list of transactions) via Third party provider’s application, you will need to confirm your choice via SEB internet bank or Third party provider’s application.
The consent can be revoked via Third party provider’s app or website.
No. You will always need to approve a payment made from your account.
To use Open Banking, the banks and Third party providers have to comply with the strict rules of the Financial Services Authority and PSD2 (Payment Service Directive 2) regulatory requirements. You can check if Third party provider is regulated by visiting the European Banking Authority (EBA) registry.
PSD2 is an EU Directive, administered by the European Commission (Directorate General Internal Market). It regulates payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA). The Directive's purpose was to increase pan-European competition and participation in the payments industry also from non-banks (Third party providers), and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users.
In accordance with data protection rules under both PSD2 and the General Data Protection Regulation (GDPR), account holders can exercise control over the transmission of their personal data. No data processing can take place without the express agreement of the consumer. Third party providers can only access and process the personal data necessary for the provision of the services the consumer has agreed to.
