Directive 2014/92/EU of the European Parliament and of the CouncilShow full title

Article 17 Characteristics of a payment account with basic features

1. Member States shall ensure that a payment account with basic features includes the following services:

(a) services enabling all the operations required for the opening, operating and closing of a payment account;

(b) services enabling funds to be placed in a payment account;

(c) services enabling cash withdrawals within the Union from a payment account at the counter or at automated teller machines during or outside the credit institution’s opening hours;

(d) execution of the following payment transactions within the Union:

(i)

direct debits;

(ii)

payment transactions through a payment card, including online payments;

(iii)

credit transfers, including standing orders, at, where available, terminals and counters and via the online facilities of the credit institution.

The services listed in points (a) to (d) of the first subparagraph shall be offered by credit institutions to the extent that they already offer them to consumers holding payment accounts other than a payment account with basic features.

2. Member States may establish an obligation requiring credit institutions established in their territory to provide additional services, which are considered essential for consumers based on common practice at national level, with a payment account with basic features.

3. Member States shall ensure that payment accounts with basic features are offered by credit institutions established in their territory at least in the national currency of the Member State concerned.

4. Member States shall ensure that a payment account with basic features allows consumers to execute an unlimited number of operations in relation to the services referred to in paragraph 1.

5. With respect to the services referred to in points (a), (b), (c) and (d)(ii) of paragraph 1 of this Article excluding payment transactions through a credit card, Member States shall ensure that credit institutions do not charge any fees beyond the reasonable fees, if any, referred to in Article 18, irrespective of the number of operations executed on the payment account.

6. With respect to the services referred to in point (d)(i) of paragraph 1 of this Article, point d(ii) of paragraph 1 of this Article only as regards payment transactions through a credit card and point (d)(iii) of paragraph 1 of this Article, Member States may determine a minimum number of operations for which credit institutions can only charge the reasonable fees, if any, referred to in Article 18. Member States shall ensure that the minimum number of operations is sufficient to cover the personal use by the consumer, taking into account existing consumer behaviour and common commercial practices. The fees charged for operations above the minimum number of operations shall never be higher than those charged under the usual pricing policy of the credit institution.

7. Member States shall ensure that the consumer is able to manage and initiate payment transactions from the consumer’s payment account with basic features in the credit institution’s premises and/or via online facilities, where available.

8. Without prejudice to the requirements laid down in Directive 2008/48/EC, Member States may allow credit institutions to provide, upon the consumer’s request, an overdraft facility in relation to a payment account with basic features. Member States may define a maximum amount and a maximum duration of any such overdraft. Access to, or use of, the payment account with basic features shall not be restricted by, or made conditional on, the purchase of such credit services.