Central Banking

Brussels crafts principles for bank account access

european-commission2

Brussels on Wednesday published a set of principles to underpin a future law requiring that every citizen of the European Union (EU) has access to a basic bank account.

Thirty million EU constituents, or nearly 6% of the 27-country area's total population, do not have access to a basic bank account according to recent data.

Although the ability to make simple payments was a "necessary precondition" for participation in modern society, "accessibility to payment accounts and the related facility t

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