The Supreme Court for Civil Matters recently ruled about the so-called Basic Payment Accounts regarding two matters: Firstly, banks are not allowed to deny the application of consumers for the opening of a Basic Payment Account, if the consumer is not able to use all of the services, he is legally entitled to at his existing payment account. This is the case, if the existing account is blocked due to insolvency, seizure by a creditor or offsets of the bank. Secondly, the annual standard fee of € 80 must not only include all payment account services, but also ancillary services such as the renewal of the debit card due to a change of the name of the consumer or informing the consumer of denial of payment transactions (9 Ob 76/18v).
First ruling on Basic Payment Accounts
