---
term: "Payment account"
category: "Agent payments"
url: https://agenticopenfinance.com/glossary/payment-account
source: AgenticOpenFinance glossary
---

# Payment account

> An account held in the name of one or more payment service users and used to execute payment transactions.

Under PSD2, a payment account is an account held in the name of one or more payment service users which is used for the execution of payment transactions. Current accounts and many e-money accounts qualify, while savings accounts often do not, which matters because open banking access rights in the European Union and the UK attach to payment accounts. When an agent reads balances or initiates payments under those rules, the payment account is the object it is acting on.

Related terms: [Payment service provider](https://agenticopenfinance.com/glossary/payment-service-provider.md), [Account servicing payment service provider](https://agenticopenfinance.com/glossary/account-servicing-psp.md), [Account information service](https://agenticopenfinance.com/glossary/account-information-service.md), [Open banking](https://agenticopenfinance.com/glossary/open-banking.md)