Documents
Europa English European Agencies EBA
20.06.2025
Press Release
The EBA reviews standardised terminology in relation to payment accounts and concludes it remains fit-for-purpose
The European Banking Authority (EBA) today published a report, in which it reviewed the standardised terms for the most common services related to payment accounts, as mandated by the Payment Accounts Directive (PAD). These standardised terms, which the EBA had issued in 2018, aim at making it easier for consumers to make informed choices by being able to compare payment accounts fees and offers, including on a cross-border basis. The review finds that the standardised terms remain fit-for-pu...
The European Banking Authority (EBA) today published a report, in which it reviewed the standardised terms for the most common services related to payment accounts, as mandated by the Payment Accounts Directive (PAD). These standardised terms, which the EBA had issued in 2018, aim at making it easier for consumers to make informed choices by being able to compare payment accounts fees and offers, including on a cross-border basis. The review finds that the standardised terms remain fit-for-purpose across the European Union. The standardised terms are set out in Regulatory Technical Standards (RTS) developed by the EBA in line with the requirements in the PAD. The EBA is required to regularly review those standardised terms. The EBA carried out its review in the first half of 2025 using a methodology that involved assessing recent EU payments laws, collecting information from National Competent Authorities (NCAs), consulting with relevant stakeholders such as the EBA Banking Stakeholder Group (BSG), and analysing internal data from recently published EBA reports. The findings of the review indicate that the current list of standardised terms remains suitable and does not require immediate changes. In the review process, the EBA acknowledged that there would be potential benefit for the standardised terms to be amended to include instant credit transfers, due to their increasing prevalence following the implementation of the Instant Payment Regulation (IPR). However, the EBA...
Errors and omissions excepted. As of: 20.06.2025