What is MyBank and how does it work?

Modified on Wed, 29 Mar 2023 at 03:21 PM

MyBank is an account-to-account payment solution enabling the transfer of funds from the bank account of a buyer (payer) to the bank account of a seller (payee).

Its payment scheme is fully in line with all SEPA Directives and is compliant with PSD2-related norms. 

Payers access MyBank via the online banking of their bank and authorize their payment, sellers receive an immediate confirmation and deliver the goods or services. Payments are secure and irrevocable.

MyBank is typically relevant for high-value C2B transactions, in the Business-to-Business segment, and for payments to Public Administrations.

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