FACUA denounces Spain in Brussels for failing to properly implement the basic payment accounts directive

FACUA-Consumers in Action has complained to the European Commission about Spain’s failure to correctly apply EU banking sector rules on basic payment accounts, which protect vulnerable consumers.

In its complaint, the association points out that the Banco de España’s (BdE) interpretation of the national regulation on basic payment accounts is contrary to its content and to the EU directive itself. In this sense, the Spanish supervisor takes advantage of certain shortcomings in the transposition of the European regulation to make a probative interpretation according to which users would not have the right to withdraw money over the counter, despite the fact that the full reading of the Royal Decree-Law in question makes the opposite clear.

In defining the