CONSUMER POLICY

The new payment account rules which the European Union adopted earlier this year will make it easier for European consumers to choose a bank and open a basic bank account as of 2016.

The changes give the right to a basic payment account to every EU citizen, irrespective of their place of residence or financial situation. The new rules also make sure people can easily understand and compare the fees for their account, and change their bank if they spot a better offer.

The new rules provide more possibilities for consumers, who will be able to receive their salary or pay their electricity bill online no matter which country they come from and where they live and work.

More information about the new rules is available here and here.

An interview of Commissioner Mimica explaining the new rules to Bulgarian consumers is accessible via this link.