Clifford Chance
The Payment Accounts Directive
9 May 2014
The Payment Accounts Directive or PAD will become law this summer. PAD will introduce measures that banks and others will need to comply with on fee transparency, providing standard form information to customers so they can compare accounts and will mean re-writing existing agreements, marketing materials, websites and Apps.
PAD also aims to facilitate account switching and ensure basic bank accounts are available to vulnerable EU residents.
