Your Everyday Payments, Now Faster: Understanding Our New Transaction Confirmation Update

At Bankera, our goal is to blend top-tier security with a seamless, convenient user experience. We're constantly working to improve our services, and we're excited to announce a new update that will make your small, everyday payments quicker and easier.

Thanks to specific legal exemptions within European payment regulations, we are streamlining the verification process for low-value transactions.

What Is Changing?

You're already familiar with Strong Customer Authentication (SCA)—that important security step, often a two-factor authentication (2FA) code sent to you via SMS or as a push notification to our app, that confirms it's really you making a payment.

While this is a crucial tool for protecting your funds, it can add a bit of friction to small, frequent payments.

The new change is simple: for most transactions under €30, you will no longer need to complete this extra SCA/2FA step. The payment will be approved and executed immediately, letting you get on with your day.

How It Works: The €30 and €100 Limits

This new, faster process is designed to be both convenient and secure. Here’s how it works:

1. Instant Payments: When you make a transaction for less than €30, it will be processed instantly without requiring extra confirmation.
2. The Security Check: To ensure your account remains secure, we keep a running total of these consecutive, non-verified payments.
3. The €100 Threshold: If the total sum of these consecutive, unconfirmed payments reaches €100, the next transaction you make (regardless of its value) will require a full SCA/2FA confirmation.

This periodic check-in verifies that you are still in control of your account. Once you successfully confirm that transaction, the €100 counter resets, and your sub-€30 payments will be instant once again.

Balancing Convenience and Security

This process, often called a "Low-Value Transaction exemption," is a standard and fully compliant feature of European regulation (PSD2).

This new system is specifically designed to remove friction from small, everyday transactions—like sending pocket money to your child, quickly paying your colleague back for lunch, or topping up your transport card—while ensuring your account is protected by periodic checks and our continuous fraud monitoring systems.

We're excited to bring you this update, making your daily financial experience with Bankera even smoother.