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

Directive 2014/92/EU of the European Parliament and of the Council of 23 July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (Text with EEA relevance)

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Article 28Review

1.By 18 September 2019, the Commission shall submit to the European Parliament and to the Council a report on the application of this Directive accompanied, if appropriate, by a legislative proposal.

That report shall include:

(a)

a list of all infringement proceedings initiated by the Commission in relation to this Directive;

(b)

an assessment of the average fee levels in Member States for payment accounts falling within the scope of this Directive;

(c)

an assessment of the feasibility of developing a framework for ensuring automated redirection of payments from one payment account to another within the same Member State combined with automated notifications to payees or payers when their transfers are redirected;

(d)

an assessment of the feasibility of extending the switching service provided for in Article 10 to cases where the receiving and transferring payment service providers are located in different Member States and of the feasibility of cross-border account-opening under Article 11;

(e)

an assessment of the number of account-holders who switched payment accounts since the transposition of this Directive based on the information provided by Member States pursuant to Article 27;

(f)

an assessment of the costs and benefits of an implementation of full Union-wide portability of payment account numbers;

(g)

an assessment of the number of credit institutions offering payment accounts with basic features;

(h)

an assessment of the number and, where anonymised information is made available, characteristics of the consumers who have opened payment accounts with basic features since the transposition of this Directive;

(i)

an assessment of the average annual fees levied for payment accounts with basic features at Member State level;

(j)

an assessment of the effectiveness of existing measures and the need for additional measures to increase financial inclusion and to assist vulnerable members of society in relation to over-indebtedness;

(k)

examples of best practices among Member States for reducing consumer exclusion from access to payment services.

2.The report shall assess, based also on the information received from Member States pursuant to Article 27, whether to amend and update the list of services that are part of a payment account with basic features, having regard to the evolution of means of payment and technology.

3.The report shall also assess whether additional measures in addition to those adopted pursuant to Articles 7 and 8 with respect to comparison websites and packaged offers are needed, and in particular the need for an accreditation of comparison websites.

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