Activities of Olle SCHMIDT related to 2013/0139(COD)
Plenary speeches (2)
Payment accounts (debate)
Payment accounts (debate)
Shadow opinions (1)
OPINION on the proposal for a directive of the European Parliament and of the Council on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features
Amendments (22)
Amendment 70 #
Proposal for a directive
Recital 20
Recital 20
(20) It is current practice for payment service providers to offer a payment account in a package with other financial products or services. This practice can be a means for payment service providers to diversify their offer and to compete against each other, and in the end it can be beneficial for consumers. However the Commission study on tying practices in the financial sector conducted in 2009 as well as relevant consultations and consumer complaints have showed that payment service providers may offer bank accounts packaged with products not requested by consumers and which are not essential for payment accounts, such as household insurance. Moreover, it has been observed that these practices may reduce transparency and comparability of prices, limit purchasing options for consumers and negatively impact upon their mobility. Therefore, Member States should ensure that when payment service providers offer packaged payment accounts consumers are provided with information on the applicable fees for the payment account and for each otherwhether it is possible to buy the components of the package separately and, if so shall provide information of the costs and charges of each financial service included in the package separately. These obligations should not apply to services which are naturally connected to the use of the payment account, such as withdrawals, wire transfers or payment cards. As a result, these services should be excluded from the scope of this provision.
Amendment 76 #
Proposal for a directive
Recital 27
Recital 27
(27) Consumers who are legally resident in the Union and who do not hold a payment account in a certain Member State should be in a position to open and use a payment account with basic features in that Member State. In order to ensure the widest possible access to such accounts, consumers should have access to them irrespective of their financial circumstances, such as unemployment or personal bankruptcy, and of and of their place of residence. Today, it is necessary to have access to a bank account to enable effective and full participation in the financial and social community. Consumers without a bank account are forced to use cash which not only restricts their plachoice of residencpayment methods and serves to exclude them from electronic transactions, but is also more expensive. Moreover, the right to access a payment account with basic features in any Member State should be granted in conformity with the requirements set out in Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing16, in particular with regard to customer due diligence procedures. __________________ 16 OJ L 309, 25.11.2005, p. 15.
Amendment 80 #
Proposal for a directive
Recital 28
Recital 28
(28) Member States should ensure that at least one payment service providerbanks active in the retail banking business offers a payment account with basic features to consumers. Access should not be overly difficult and should not entail excessive costs for consumers. In this respect, Member States should consider factors such as the location of the designated payment service providers in their territoryensure that exemptions are only based on the requirements set out in Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing16 , in particular with regard to customer due diligence procedures. In order to minimise the risk for consumers to become financially excluded, Member States should improve financial education, including at school, and combat over- indebtedness. Furthermore, Member States should promote initiatives of payment service providers in order to facilitate the combination of providing payment accounts with basic features and financial education.
Amendment 91 #
Proposal for a directive
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Member States shall ensure that the competent authorities referred to in Article 20, determine a provisional list of at least 20the most representative payment services accounting for at least 80% of the most representative payment services subject to a fee at national level. The list shall contain terms and definitions for each of the services identified.
Amendment 96 #
Proposal for a directive
Article 4 – paragraph 2
Article 4 – paragraph 2
2. Where one or more payment services referred to in paragraph 1 is offered as part of a package of financial services, the fee information document shall disclose which of the services referred to in paragraph 1 are included in the package, the fee for the entire package and if possible to buy the components separately, the fee for any service that is not referred to in paragraph 1.
Amendment 99 #
Proposal for a directive
Article 4 – paragraph 7 b (new)
Article 4 – paragraph 7 b (new)
7b. Payment service providers shall meet the above obligations within twelve months of the publication of the EU standardised list pursuant to Article 3 paragraph 5 and the adoption of the implementation act pursuant to paragraph 7 of this provision.
Amendment 103 #
Proposal for a directive
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. Member States shall insure that consumers are informed comprehensively and well in advance in written or electronically when a service provider intends to increase any fees before the annual statement is published.
Amendment 132 #
Proposal for a directive
Recital 8
Recital 8
(8) It is vital, therefore,n order to enable effective and smooth financial mobility in the long term, it is vital to establish a uniform set of rules to tackle the issue of low customer mobility and in particular to improve comparison of payment account services and fees and to incentivise payment account switching as well as avoid that consumers who intend to purchase a payment account cross-border are discriminated on the basis of residency. Moreover, it is essential to adopt adequate measures to foster customers' participation in the payment accounts market. These measures will incentivize entry for payment service providers in the internal market and ensure a level playing field, thereby strengthening competition and the efficient allocation of resources within the EU financial retail market to the benefit of businesses and consumers. Also, transparent fee information and switching possibilities combined with the right of access to basic account services will allow EU citizens to move and shop around more easily within the Union and therefore benefit from a fully functioning internal market in the area of retail financial services and contribute to its further developmenhe growth of e- commerce and to further development of the internal market.
Amendment 143 #
Proposal for a directive
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
1a. Member States shall ensure that when a consumer is denied a payment account on the free market, the refusal letter of the payment service provider contains a mandatory notice about the legal right to a basic payment account and the alternative dispute resolution body and its contact details.
Amendment 168 #
Proposal for a directive
Recital 20
Recital 20
(20) It is current practice for payment service providers to offer a payment account in a package with other financial products or services. This practice can be a means for payment service providers to diversify their offer and to compete against each other, and in the end it can be beneficial for consumers. However the Commission study on tying practices in the financial sector conducted in 2009 as well as relevant consultations and consumer complaints have showed that payment service providers may offer bank accounts packaged with products not requested by consumers and which are not essential for payment accounts, such as household insurance. Moreover, it has been observed that these practices may reduce transparency and comparability of prices, limit purchasing options for consumers and negatively impact upon their mobility. Therefore, Member States should ensure that when payment service providers offer packaged payment accounts consumers are provided with information on the applicable fees for the payment account and for each otherwhether it is possible to buy the components of the package separately and, if so shall provide information of the costs and charges of each financial service included in the package separately. These obligations should not apply to services which are naturally connected to the use of the payment account, such as withdrawals, wire transfers or payment cards. As a result, these services should be excluded from the scope of this provision.
Amendment 179 #
Proposal for a directive
Recital 27
Recital 27
(27) Consumers who are legally resident in the Union and who do not hold a payment account in a certain Member State should be in a position to open and use a payment account with basic features in that Member State. In order to ensure the widest possible access to such accounts, consumers should have access to them irrespective of their financial circumstances, such as unemployment or personal bankruptcy, and of and of their place of residence. Today, it is necessary to have access to a bank account to enable effective and full participation in the financial and social community. Consumers without a bank account are forced to use cash which not only restricts their plachoice of residencpayment methods and serves to exclude them from electronic transactions, but is also more expensive. Moreover, the right to access a payment account with basic features in any Member State should be granted in conformity with the requirements set out in Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing , in particular with regard to customer due diligence procedures.
Amendment 188 #
Proposal for a directive
Recital 28
Recital 28
(28) Member States should ensure that at least one payment service providerbanks active in the retail banking business offers a payment account with basic features to consumers. Access should not be overly difficult and should not entail excessive costs for consumers. In this respect, Member States should consider factors such as the location of the designated payment service providers in their territoryensure that exemptions are only based on the requirements set out in Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing , in particular with regard to customer due diligence procedures. In order to minimise the risk for consumers to become financially excluded, Member States should improve financial education, including at school, and combat over- indebtedness. Furthermore, Member States should promote initiatives of payment service providers in order to facilitate the combination of providing payment accounts with basic features and financial education.
Amendment 203 #
Proposal for a directive
Recital 33
Recital 33
(33) Clear and comprehensible information on the rightavailability to a bank account with basic features should be provided by Member States and payment service providers to consumers. The information should cover the main features and conditions for using the account and also the steps consumers should follow to exercise their right to open a payment account with basic features. Notably, consumers should be informed that the purchase of additional services is not compulsory in order to access a payment account with basic features.
Amendment 250 #
Proposal for a directive
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Member States shall ensure that the competent authorities referred to in Article 20, determine a provisional list of at least 20 payment services accounting for at least 80% of the most representative payment services subject to a fee at national level. The list shall contain terms and definitions for each of the services identified.
Amendment 251 #
Proposal for a directive
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Member States shall ensure that the competent authorities referred to in Article 20, determine a provisional list of at least 20the most representative payment services accounting for at least 80% of the most representative payment services subject to a fee at national level. The list shall contain terms and definitions for each of the services identified.
Amendment 290 #
Proposal for a directive
Article 4 – paragraph 2
Article 4 – paragraph 2
2. Where one or more payment services referred to in paragraph 1 is offered as part of a package of financial services, the fee information document shall disclose which of the services referred to in paragraph 1 are included in the package, the fee for the entire package and if possible to buy the components separately, the fee for any service that is not referred to in paragraph 1.
Amendment 308 #
Proposal for a directive
Article 4 – paragraph 6
Article 4 – paragraph 6
6. The fee information document and the glossary shall be made available free of charge at all times by payment service providers on a durable medium at premises accessible to consumers and shall be made available in electronic form on their websites.
Amendment 319 #
Proposal for a directive
Article 4 – paragraph 7 a (new)
Article 4 – paragraph 7 a (new)
7a. Payment service providers shall meet the above obligations within twelve months of the publication of the EU standardised list pursuant to Article 3 paragraph 5 and the adoption of the implementation act pursuant to paragraph 7 of this provision.
Amendment 331 #
Proposal for a directive
Article 5 – paragraph 2 a (new)
Article 5 – paragraph 2 a (new)
2a. Member States shall insure that consumers are informed comprehensively and well in advance in written or electronically when a service provider intends to increase any fees before the annual statement is published.
Amendment 401 #
Proposal for a directive
Article 8 – paragraph 1
Article 8 – paragraph 1
1. Member States shall ensure that when a payment account is offered together with another service or product as part of a package, the payment service provider informs the consumer of whether it is possible to buy the payment account separately and if so provides separate information regarding the costs and fees associated with each of the products and services offered in the package.
Amendment 525 #
Proposal for a directive
Article 14 – paragraph 1
Article 14 – paragraph 1
Member States shall ensure that consumers legally resident in the Union are not discriminated against by reason of their nationality or, place of residence or any other reason when applying for or accessing a payment account within the Union.
Amendment 538 #
Proposal for a directive
Article 15 – paragraph 1 – subparagraph 1 (new)
Article 15 – paragraph 1 – subparagraph 1 (new)
Member States shall ensure that when a consumer is denied a payment account on the free market, the refusal letter of the payment service provider contains a mandatory notice about the legal right to a basic payment account and the alternative dispute resolution body and its contact details.