News & Press
The EBA reviews standardised terminology in relation to payment accounts and concludes it remains fit-for-purpose
Press Release
The European Banking Authority (EBA) today published a report, in which it reviewed the standardised terms for the most common services related to payment accounts, as mandated by the Payment Accounts Directive (PAD). These standardised terms, which the EBA had issued in 2018, aim at making it easier for consumers to make informed choices by being able to compare payment accounts fees and offers, including on a cross-border basis. The review finds that the standardised terms remain fit-for-purpose across the European Union.