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ESBG updates position on bank fees

ESBG updates position on bank fees
​Real need for clear, easily accessible and comparable information on fees to allow ​consumer to make an informed choice between the payment account offers available on the market.​


>> See the ESBG position on bank fees

>> ESBG response to EBA consultation under Payment A​ccounts Directive










​​​​​BRUSSELS, 11 January 2017 – ESBG recently updated its position on bank fees.

The updates are based on a recent ESBG response to EBA consultation on bank fees under the Payment Accounts Directive submitted in late December. In it, ESBG chose to refrain from addressing in depth the terminology as adopted by the EBA and instead focused on the Fee Information Document (FID) and the Statement of Fees (SoF). This is due to the fact that in ESBG's view, this issue would be better dealt with at the national level owing to the many specificities present in different Member States. However, generally speaking, ESBG welcomes the efforts made by the EBA to come up with brief and easily understandable terms.

Regarding both disclosure documents as well as the proposed terminology, ESBG argues that relevant legislation should enter into force simultaneously with the PSD II – the second Payment Services Directive – as this will be more efficient, better for consumers as well as environmentally friendly. 

In ESBG’s view the consultation leaves too little flexibility to Payment Service Providers (PSPs) with regard to the format of the FID and of the SoF​. This is because the EBA has interpreted its mandate rather extensively and has thus for instance set rules regarding the size and font of the text as well as the colour thereof, rules on the size of the logo of the PSP as well as that of the common symbol. ​

​More of ESBG's position related to bank fees is available in the policy section of this website​.



Payment accounts; Payments; Regulation; European Institutions; European Supervisory Authorities (EBA-ESMA)