EBA欧洲银行-BSG-response-to-Consultation-Paper-28EBA-CP-2014-3429209-January-2015_7页_1mb

EBA Banking Stakeholder Group Consultation Summary on Draft Guidelines on National Provisional Lists of the Most Representative Services Linked to a Payment Account and Subject to a Fee

Core Content

The European Banking Authority (EBA) has issued a Consultation Paper (EBA/CP/2014/34) proposing draft guidelines on the establishment of national provisional lists of the most representative services linked to a payment account and subject to a fee. The EBA Banking Stakeholder Group (BSG) has provided general comments and detailed replies to the questions raised in the Consultation Paper.

The Payment Accounts Directive (PAD) requires the EBA to develop standardised terminology and information documents for payment account services across the EU. These guidelines are intended to assist national competent authorities in identifying representative services that are subject to fees, based on criteria such as common usage and cost to consumers.

Main Views

1. General Support for the Guidelines

• The BSG generally supports the EBA's proposed guidelines and the cost/benefit analysis and impact assessment.
• They believe the guidelines are an important first step in implementing the PAD and align with the directive’s goal of improving consumer understanding of fees.

2. Recommendations for Improvement

• The provisional lists should include at least 10 and no more than 20 services, but the BSG suggests that the upper limit should be closer to 20, especially in countries with complex and expensive fee structures.
• The BSG supports the inclusion of fees, penalties, and interest in the lists, as these are often hidden from consumers and contribute significantly to the overall cost.
• They emphasize the importance of consumer-friendly measures and recommend that national competent authorities should consider behavioural insights when identifying representative services.
• The BSG proposes that the term "exception" should be clarified with examples to avoid misinterpretation.
• They also suggest the inclusion of a new point in the guidelines: “The risk of consumer detriment may be borne in mind by competent authorities when considering whether to include certain services in the provisional list.”

3. Use of Indicative Examples

• The BSG supports the methodologies and examples provided in the annexes but clarifies that they are indicative and not exhaustive.
• They recommend the inclusion of country case studies in the guidelines to demonstrate practical implementation, particularly in Member States where fees are not transparent or comparable.

4. Transparency and Consumer Awareness

• The BSG highlights the need for transparency in fee structures, especially regarding teaser offers, conditional fees, and discounts.
• Competent authorities should ensure that standardised lists reflect the normal tariff of services, rather than promotional rates, to avoid misleading consumers.

5. Legality of Fees

• The BSG stresses that the EBA guidelines should not pre-judge the legality of fees.
• They note that in some cases, fees may be deemed illegal, as seen in recent German court rulings.

Key Information

• Provisional lists must include services that are most commonly used and generate the highest cost to consumers.
• The BSG supports the cumulative application of these criteria, giving priority to services that meet both.
• Consumer organisations should be included as data sources, alongside financial industry representatives.
• The standardised list should be clear, concise, and comparable across providers to help consumers make informed decisions.
• Case studies and examples are recommended to support the implementation of the guidelines.

Conclusion

The BSG believes that the proposed guidelines are a crucial step in ensuring transparency and comparability of payment account fees across the EU. They support the philosophy of the PAD and recommend that the EBA refine the guidelines to better reflect consumer needs, market realities, and legal considerations.