Press Release: Council sets out its position on payment accounts

The Permanent Representatives Committee on 20 December 2013 agreed, on behalf of the Council, a general approach on a draft directive aimed at improving the transparency and comparability of information on fees related to payment accounts.

The proposal sets out to enable the consumer to make informed choices when opening a payment account, whilst facilitating the switching of accounts and eliminating discrimination based on residency. It also sets out to guarantee access to basic payment services throughout the EU, to the benefit of both services providers and consumers.

Negotiations with the European Parliament will now start, with the aim of adopting the directive at first reading.

ESO: Background information: Bankers balk at EU proposals to enable account switching http://www.europeansources.info/record/bankers-balk-at-eu-proposals-to-enable-account-switching/

ESO: Background information: Bank accounts: Commission acts to make bank accounts cheaper, more transparent and accessible to all http://www.europeansources.info/record/press-release-bank-accounts-commission-acts-to-make-bank-accounts-cheaper-more-transparent-and-accessible-to-all/

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