logo-euconcThe Council has taken a step further toward a directive on payment account as it agreed on 20th December 2013 a “general approach” to a draft directive (text available here). The next step towards the adoption of a directive is the negociation with the European Parliament.

The text of the directive aims to enhance consumer protection by facilitating the switching of bank accounts and access to a payment account with basic features as the text provides that “consumers legally resident in the Union have the right to open and use a payment account with basic features with credit institutions located in their territory” irrespective of their place of residence.

Eurodiaconia members have been involved in lobbying for improved access to a bank account, particularly for the most vulnerable people in society. In response to a consultation on this topic in 2012, Eurodiaconia urged the Commission to take further steps in ensuring better transparency and access to bank accounts.

 

More information:
Presidency proposal for a directive on the comparability of fees related to payment accounts, Presidency proposal for a directive on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (18th December 2013)