EU may force banks to offer everyone current accounts

[Amethyst]

Under regulations proposed by the European Union, banks may be required to offer basic current accounts to everyone over the age of 18, regardless of their credit history or income. A European Commission consultation claims that without a bank account, people cannot benefit from cheaper goods and services online and face difficulties with taking jobs, renting properties and paying bills.

http://ec.europa.eu/internal_market/...count%5Fen.htm

Also means the banks can screw more people over with charges, but then no one seems that bothered about that little sideline of financial inclusion.

[pompeyfaith]

Re: EU may force banks to offer everyone current accounts

Also means the banks can screw more people over with charges, but then no one seems that bothered about that little sideline of financial inclusion.

LOL that's one way of putting it, but you are right the days when we where paid in cash are long gone and that did have its benefits too.

PF

[EXC]

Re: EU may force banks to offer everyone current accounts

''However, an overdraft facility or overrunning would not be part of a basic payment
account. Access to credit would not be considered as a component of or a right related to
a basic payment account, whatever the purpose or the form of the credit.''


The problem, as always, is unpaid item charges.