Payment Accounts Directive

The EU Directive: Directive 2014/92/EU - Payment Accounts Directive

The objective of the Payment Accounts Directive is to improve and develop the internal market for retail banking, through the removal of barriers to a fully integrated market by ensuring transparency and comparability of fees related to payment accounts, facilitating payment account switching and ensuring access to payment accounts with basic features.

Public Consultation

The Directive contained a number of discretions for Member States and these discretions were the subject of a public consultation process over the course of three months.  

A copy of this public consultation can be found here: Payment Accounts Directive Consultation

Eight responses were received from consumer, non-governmental and industry stakeholders.  These submissions were taken into account in informing the decisions made on each of the national discretions.  These decisions, together with the submissions received, are now set out below.


ILCU Submission

SVP Submission

Focus Ireland Submission

EMA Submission

CUDA Submission

CCPC Submission

BPFI Submission

An Post Submission

Minister’s Decisions:

Following the Public Consultation process, and taking account of the submissions received, the Minister made decisions on the discretions. These decisions can be read here:

Minister's decisions on discretions


Following on from the decisions on the national discretions, the Payment Accounts Directive was transposed into Irish law by the European Union (Payment Accounts) Regulations 2016. A copy of these regulations can be found below.

European Union (Payment Accounts) Regulations 2016 - S.I. 482 of 2016’