"Always up to date – news from Fondsdepot Bank."

PSD2 and amendments of the special terms and conditions for the use of fund banking and the InfoManager


PSD2 (Payment Services Directive2) is an EU directive for the regulation of payment services and payment service providers, whose objectives are ...

  • to increase the security of payment transactions; 
  • to strengthen consumer protection;
  • to promote innovation; and 
  • to increase the competition in the market. 

Banks are required to amend their terms and conditions that are impacted by the PSD2 and inform their customers of this. Due to the statutory amendments that will apply since 14 September 2019, we have amended our "Special terms and conditions for the use of fund banking and the InfoManager". The amendments concern the online banking.

For payments on the Internet, two-factor authentication is already mandatory. This means that the customer's authentication needs to take place via two factors that are conveyed through knowledge (e.g. PIN), possession (e.g. smartphone) or inherence (e.g. fingerprint, face ID).

What is new is that the authentication elements must dynamically link the payment transaction to a specific amount and a specific payee. Consequently, from 14/09/2019, it will no longer be possible to use the iTAN procedure for cash accounts. As a result, we will deactivate the iTAN procedure (paper iTAN list) for cash account transactions from 13 September.

Already from 9 August 2019, we will offer you our new pushTAN procedure. In this regard, from 29/06/2019, we will send information to the affected clients by post or via InfoManager.

For other online transactions in fund banking, e.g. the purchase and sale of funds using the fund portfolio, the iTAN procedure will be deactivated by the first quarter of 2020 and likewise converted to the pushTAN procedure. The information regarding this will be sent to the clients affected from August 2019.

Your other questions will be answered in our FAQ.

Your contact for press enquiries


Marco Pries
Team Head Marketing

Tel: +49 9281 7258 2377
E-mail: presse(at)fondsdepotbank.de