Under EU law, EU banks now need to offer Basic Payment Accounts to the 'under banked'.
These accounts are suitable for someone who cannot open a current account or someone on a low or no income.
These account provide basic payment services but no overdrafts and no cheques. Banking is free for at least 12 months post account opening.
Today, most banks added details on their website as to how these accounts will work.
The PTSB detail is here.
The AIB detail is here.
The KBC detail is [broken link removed].
The Ulster Bank detail is here.
(EBS and BoI seem to have not yet added details to their websites).
These accounts are suitable for someone who cannot open a current account or someone on a low or no income.
These account provide basic payment services but no overdrafts and no cheques. Banking is free for at least 12 months post account opening.
Today, most banks added details on their website as to how these accounts will work.
The PTSB detail is here.
The AIB detail is here.
The KBC detail is [broken link removed].
The Ulster Bank detail is here.
(EBS and BoI seem to have not yet added details to their websites).