Since the introduction of PSD2 legislation, all European banks are obliged to create an API through which third parties - solely after explicit consent from the account holder - can access your bank account.
Dyme uses this PSD2 directive to obtain the right to read your bank transactions. Our clever algorithm filters and organises your transactions and organises them much more clearly than you’re used to from your bank. It, for instance, recognises which transactions are fixed expenses and we pair them with the correct subscription or contract.
Pairing your Dyme account to your bank account is only possible after you’ve granted explicit permission to do so. After this initial permission, we are required to confirm this permission every 90 days. You can, of course, retract your permission at any moment.