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20 June 2025

Report on the standardised terminology for services related to payment accounts

European Banking Authority (EBA) report reviewing the standardised terminology for payment account services under the Payment Accounts Directive (PAD). Assesses EU legislation, national authorities' and stakeholders' views, and concludes the current Regulatory Technical Standards (RTS) remain fit-for-purpose, with potential future updates for instant credit transfers.

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Press Release 20 June 2025

The EBA reviews standardised terminology in relation to payment accounts and concludes it remains fit-for-purpose

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.