Neue Publikation: Prof. Dr. Jochen Hoffmann – Implementation of the Payment Accounts Directive (PAD), ERA Forum Journal of the Academy of European Law, June 2019
After the transposition of the Payment Accounts Directive a right of access to a bank account with basic features has been implemented in all Member States. As the Member States had different options when transposing the directive the situation differs both regarding which credit institutions are obliged to open an account and what fee the credit institution may charge for the service. This article argues that the options most used by Member States lead to a “race to the bottom” regarding fees and conditions and let the practical effectiveness of the right of access seem questionable.