EEA EFTA Comment on the proposed Payment Accounts Directive

Published 11-10-2013
The EEA EFTA States have submitted comments to the European Parliament on the Commission’s proposal for an EU Directive on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features.

The measures set out in the proposal could bring much needed benefits to consumers and businesses, increase national and cross-border competition in the banking and payment industries, and thus strengthen the potential for economic growth in the European Economic Area, especially within e-commerce.

The EEA EFTA States note that the Commission’s proposal seems to be based on a minimum harmonisation approach, and while they support this approach they recommend that it be expressed in a more explicit manner. In that regard, they point out that a future EU framework in this area should not weaken the existing access consumers have to payment accounts in the EEA States.

Read the full comments from the EEA EFTA States here.

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