What is PSD2?
Payment Services Directive is an EU directive to regulate 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, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users.
Strong Customer Authentication
What is SCA?
The principle of SCA is to increase security for electronic payments and accessing your online banking account through the introduction of two factor authentication protocols.
This is a security process in which you may be asked to verify your identity in two different ways such as with a password or a one-time passcode.
IMPORTANT: You need to take action to make sure you can continue shopping online with your Chill Money credit card. Please read the below carefully and update your account today in online banking.
Online shopping is changing
What is this change?
There will be a new security step which will prompt you to answer a security question when you are entering a One Time Passcode (OTP). This will happen from time to time when you shop online.
What do I need to do?
It’s really easy. Just go to your online banking account and select your five personalised security questions today. You’ll only ever be asked for one question at a time.
If you are not yet registered for online banking, you can do so clicking on the ‘SIGN IN’ link at the top of this page. Our Customer Service Team cannot set up your personalised security questions over the phone, you need to complete it online.
To set up your five personalised security questions:
What about additional card holders?
Every cardholder on your account also needs to set up their personalised security questions. They will need to register for online banking to complete this process. Please ensure any Authorised User on your account is made aware of this, so that they can continue to shop online.
What happens next?
Once you have your security questions in place, you can expect to occasionally see a prompt for an OTP and security question when using your card online. Be sure to have your phone nearby to receive your OTP.
Need more help?
Please see below for some questions you might have. Our Customer Service Team cannot set up your personalised security questions over the phone, you need to complete it online.
Frequently asked questions
When will I be asked to enter the security question when shopping online?
You may begin to see this happening from December onwards.
How many security questions will I be asked?
You will only ever have to answer one question along with using the One Time Passcode (OTP) you will receive by text message..
I never shop online – do I need to do anything?
Not immediately; however, if you decide to shop online in the future, you will need to:
- Log into your credit card online account, or complete registration if required.
- Update your contact details in the Settings menu.
- Complete the five security questions
What happens if I don’t set up the security questions and answers?
You will not be able to complete certain transactions where that detail is requested.
I am not registered for online banking. Do I need to be?
Yes, you will need to register your credit card online so that you can select your security questions. You can do this by selecting the ‘SIGN IN’ button on our website.
What happens if I enter the security answer or the OTP incorrectly?
The transaction will not be approved and you will have to try again.
What happens if I forget my answers?
You can log into your online account any time to view and change your security questions.
Do additional cardholders need their own online banking profile?
Yes, all cardholders will need to register for their own online banking account and complete the questions and answers separately.
One Time Passcode
What is a one-time passcode?
A one-time passcode is a random number that Chill Money will send to you in real time via a SMS text message to your mobile device. One-time passcodes help make your online banking and transactions more secure.
When will I need a one-time passcode?
You will be asked to enter a one-time passcode on some occasions when banking online or carrying out 3D secure transactions.
If you have not logged into your online banking account with the past 90 days you will be prompted for a one-time passcode.
You may also be prompted for a one time passcode on other occasions such as when updating contact details, for example, your home address or email address.
Please note, Chill Money will never ask you to complete Strong Customer Authentication by clicking on a link in an EMAIL or a TEXT message.
You should never disclose a one time passcode to anyone. If you have disclosed your one time passcode at any time please contact us immediately.
How do I get a one-time passcode?
One-time passcodes are sent via SMS – Please ensure your mobile number is up to date for all credit card accounts that you have with us.
How quickly will I receive a one-time passcode via text message?
When you perform a transaction that requires a one-time passcode, you will usually receive the passcode in seconds. In exceptional circumstances it could take longer and can depend on your network coverage. You will need to verify your network coverage and your ability to receive text messages with your network provider.
How long is a one-time passcode valid for?
The one-time passcode must be used within 10 minutes of it being requested.
I didn’t receive a one-time passcode, what do I do now?
There is an option to re-send the one time passcode. Before resending please check that the last 4 digits of your mobile number are displayed in the notification. If they are incorrect, please call our Customer Services team to have them updated.
If your number appears to be correct but you are still not receiving the passcode you may need to check with your mobile network operator in order to confirm that your mobile phone is able to receive automated SMS messages.
You will have 5 attempts to resend before the resend link is disabled. In this event please contact us on 1890 845 845 to have it reactivated.
My one-time passcode is blocked what do I do?
Please contact our Customer Services team on 1890 845 845. They are available from 9am to 5:30pm Monday to Friday, and 10am to 2pm on Saturdays, excluding Bank Holidays.
How can I check or update the mobile number you have on file for me?You can update or check the mobile number that we have on file for you by navigating to the contact details section of your online banking account.
Can I opt out of receiving one-time passcodes?
No, as part of PSD2, Strong Customer Authentication is a regulatory requirement that all banks and financial institutions must comply with.
What is Open Banking?
PSD2 also gives you the option to securely share your online payment account information with authorised providers you trust known as third party providers (TPP’s). This is known as Open Banking. If you choose to, you can share your online credit card data with one of these providers. If you do not wish to share your data with one of these providers then you do not have to do anything, therefore you are always in control.
Is it Safe to share my data with a TPP?
Yes. One of the key areas of PSD2 is introducing increased security for customers. A TPP will be regulated in the same way that a Bank is, and so must follow the same laws to keep your information safe and secure.
I don’t want to share my data with anyone; do I have to opt out of these changes?
No. We will never share your data with a TPP unless you specifically request us to and have given your consent to the TPP provider for this.