Hi,

A simple question and hoping for simple answers:

As a hobby developer, I'm looking into developing apps with the bunq API. Do I need to care about PSD2 if I want to release Apps in the App stores?

    Hi Axel, that depends on the app you want to develop. Depending on the features you will offer you may require a license from or registration at your local financial supervisor.
    Google should be able to give you a quick answer. :) Good luck!

      @Axel-Indigo-Hummingbird#70249 it indeed kinda depends on your app. I know that the "flow your money" app is looking into it before continuing the project (and the same applies for Eypo if I recall correctly). 🙂

        @Axel-Indigo-Hummingbird#70249 If you for example initiate payments or transferring money via your service (for others) then you need a license.

        If your app does this all on the device, then you don't need this license 🙂

          @Bastiaan#70282 Thanks a lot, this is helpful. You don’t happen to have a link to an article where I can read about it? My google-fu is failing me on this

            @Bastiaan#70282 yes, if the app acts locally and only for each individual user and does not store, transmit or otherwise use banking data in a commercial way outside of the confines of the apps sandbox, you should be good. and there's no need for PSD2 licensing.

              @Axel-Indigo-Hummingbird#70288 In what language? 🙂

                @Bastiaan#70305 English or German would be fantastic :)

                  6 days later

                  I'm also interested in following this thread. When looking to the API's of other banks, like ABN AMRO, they oblige you to have a PSD2 licence. Now, I understand why, but starting this journey as a side project makes it quite hard and expensive, right?

                    @Dennis-Purple-Hummingbird#72269 Hi 👋🏼 Dennis,

                    I can imagine that this whole PDS2 can be intimidated and discouraging if a company wants to take a great idea 💡 to production.

                    Wanna get an idea 💡 of what the DNB asks? Check this: http://www.toezicht.dnb.nl/binaries/50-236933.pdf

                    There are some escapes to bypass the need for a license. For instance, in the a situation where money of the user isn't actually going through your company. That could well be the case if you use the API or Connect feature of bunq. In that case, money isn't kept on a bank account of that company for instance.

                    I recently learned that a company tried to use this escape with their bunq 🌈 project, but failed. Simply because in theory they could transfer money to their own bank account.

                    Till some extent, I understand that some regulations are needed here. But, feels also an overkill here and there. Already one great bunq 🌈 project seems to have stopped because of all the hassle and another one is pushed back.

                    So, is PSD2 a blessing or a curse? 🤔

                    By the way, if I’m not mistaken this law only applies to companies

                      @JohnDo#72286 Depends on the way you look at it. From a privacy perspective, I think PSD2 is going to be a curse.

                        2 months later

                        Hi everyone,

                        I know I might be resurrecting as finished conversation here, but I'm incredibly confused now. I have interest in developing a personal project that automates a lot of my budgeting, financial analysis etc by using the Bunq API. My hope was to combine this with the ABN Amro API (where my other account is). I have no intention of using it for any other accounts other than my own but it seems ABN will not allow this, and PSD2 doesn't seem to be clear if you are allowed to do it for personal use without a licence or not. So my question is:
                        1. Will I be able to use the Bunq API to get live information from my bank account for my personal use without having a PSD2 licence?

                          @Adrian-Lime-Lynx#92180 yes, you can use the bunq API without PSD2 license for your personal project. You need a bunq Premium or a Business account, to generate the API-keys.

                          You only need a PSD2 license if you build an app/project which can be used by others and communicates via your servers with the bunq API.

                            @Bastiaan#92206 Great! Thank you so much, this is excellent news.

                              a month later

                              @lexy-Blue-Panda#103247 In het stuk op medium spreken jullie over 4 types, maar vervolgens noemen jullie er maar 3. Namelijk AISP, PISP en CBPII. Welke vierde optie hebben jullie?

                                @JeroenE#103258 Oops, a typo. Thanks for pointing it out!
                                Must have been thinking of all the possible roles including Account Servicing Payment Service Provider (ASPSP), which is the bank itself.

                                Updated the article with the right number of user roles.

                                  Write a Reply...