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EU Consultation on Financial Inclusion: Ensuring access to a basic bank account

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  • EU Consultation on Financial Inclusion: Ensuring access to a basic bank account

    European Commission Internal Market &raquo Consultations: Internal Market

    In its staff working document on the initiatives in the area of retail financial services, accompanying the Communication 'A single market for 21st century Europe', the European Commission invited all stakeholders to reflect on the possibilities to ensure that by a certain date nobody will be denied access to a basic bank account. In many Member States, citizens are not guaranteed access to a basic bank account. This usually prevents the people concerned from having access to other financial services and is an important factor of social exclusion. The objective of this consultation was to collect views from all stakeholders on how financial inclusion can be improved and, more specifically, to ensure that by a certain date every EU citizen or resident has access to a basic bank account. The Commission services in particular welcomed input on how the responsibilities and competences between the public authorities and the private sector, and more broadly between the national and the European level, should best be shared to address financial exclusion, and on what instruments could be used.

    Some VERY interesting responses about charges for basic accounts (but a lot of reading) CIRCA - Communication Information Resource Centre Administrator but a summary of the responses are - http://ec.europa.eu/internal_market/...summary_en.pdf

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