Bank accounts will be basic right under new rules

One-in-10 Irish people have no bank account, many because they have been refused one, but banks will in future be forced to open a current account for any applicant.

Bank accounts will be basic right under new rules

While they will not necessarily be given a credit card or an overdraft, they will be able to receive and make payments, and open up an account in another EU state.

“In today’s world, European citizens cannot fully participate in society without a basic bank account. They have become an essential part of our everyday life, allowing us to make and receive payments, shop online and pay utility bills,” said internal market commissioner Michel Barnier as he launched draft bank rules.

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