SME Chamber President meets MDB Officials
22 April 2024
Malta Chamber of SMEs President Mr Paul Abela met MDB Chairman Leo Brincat and CEO...
Bank accounts:
11 May 2013
Commission acts to make bank accounts cheaper, more transparent and
accessible to all European
citizens cannot fully participate in society without a basic bank account. Bank
accounts have become an essential part of our everyday life, allowing us to
make and receive payments, shop online, and pay utility bills (telephone, gas,
electricity).
Whilst single market legislation has ensured that banks can
operate throughout the European Union and offer their services cross-border,
this mobility is not mirrored for citizens who are often unable to open an
account in another Member State or to easily switch from one bank to another.
Furthermore, consumers often pay above the odds for the services they receive
from their bank and struggle to have clarity on the various fees charged. It is
in this context that the European Commission has published its proposal for a
Directive on the transparency and comparability of payment account fees,
payment account switching and access to a basic payment account
operate throughout the European Union and offer their services cross-border,
this mobility is not mirrored for citizens who are often unable to open an
account in another Member State or to easily switch from one bank to another.
Furthermore, consumers often pay above the odds for the services they receive
from their bank and struggle to have clarity on the various fees charged. It is
in this context that the European Commission has published its proposal for a
Directive on the transparency and comparability of payment account fees,
payment account switching and access to a basic payment account
