PSD2 open banking requires that access to all 'Transactional Accounts' are provided by FIs to TPPs free of charge.
The FCA defines a transactional account in the FCA handbook as a ‘Payment Account’ and a payment account is defined in the FCA regulation 2 as:
"an account held in the name of one or more payment service users which is used for the execution of payment transactions"
Source: FCA Handbook PERG 15 Guidance on the scope of the Payment Services Regulations 2009
A number of accounts sit outside the PSD2 open banking regulation (e.g. Fixed Term Deposit Accounts, Mortgage Accounts, Investment Accounts etc.). If an FI offers APIs to these non-PSD2 open banking accounts, so called Premium APIs, they are allowed to charge TPPs for access to them.
Konsentus, on behalf of the FI, will: