Thursday, 20 June 2019

Questions (66)

Róisín Shortall

Question:

66. Deputy Róisín Shortall asked the Minister for Finance the number of payment accounts with basic features that have been created in each of the years since the inception of SI No. 482 of 2016 by the financial institution providing same. [25944/19]

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Written answers (Question to Finance)

The Payment Accounts Directive, transposed in September 2016 by the European Union (Payment Accounts) Regulations 2016 (S.I. No. 482 of 2016), contains a right to open a payment account with basic features with a credit institution.

The Central Bank is the designated competent authority for the purposes of the European Union (Payment Accounts) Regulations 2016. The most recent information that I have available to me from the Central Bank indicates that in the period from September 2016 to the end of June 2018, 69,182 accounts that met the criteria of a payment account with basic features were opened across all six Irish credit institutions.

The Central Bank collects this data from firms for the purposes of evaluation of the Payment Accounts Directive, and I do not have a further breakdown of the number of payment accounts by institution.