Payment Accounts: basic current account for all EU citizens

The European Parliament and the Council today reached agreement on the EU Directive on Payment Accounts (PAD). The EPP Group endorses this new Directive: "We have reached a fair balance between the interests of consumers and the banking industry. All European citizens will have access to a current account. It will not be free of charge, however. Despite prior opposition in Council, consumers will be able to change their bank account provider across borders", said Werner Langen MEP who is in charge of the Payment Accounts Directive for the EPP Group.