Jarmila Tkacikova, Ph.D. Bank Accounts over Europe: tradition & tools & trends

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1 Jarmila Tkacikova, Ph.D. Bank Accounts over Europe: tradition & tools & trends Cycle of 10 European Workshops Mutual Learning on Financial Inclusion Opening European Workshop with Certificate 2008

2 OPENING ACCOUNTS Banking and programme accounts from Europe in Bratislava Ceremony opening speeches of European workshop, hosting institution, experts and learners ice-breaking and who is who personnel presentation, gentlemen and learning agreement, organisation and programme package in timing

experts and learners ice-breaking and who is who personnel presentation,

3 BA Over Europe: Tradition &Tools &Trends Part A: Tradition BA via EC BAEG scope Part B: Tools BA tools as European TESTIMONY Part C: Trends BA Trends in turbulent times

4 BA Over Europe: Tradition &Tools &Trends PART A Tradition BA via EC BAEG scope

5 BAEG European Commission Platform Report. Expert Group on Customer mobility in Relation to bank Accounts 2007 EC DG MARKT/h3, European Commission Brussels Executive Summary. Report of The expert Group on Customer mobility in Relation to bank Accounts 2007 EC DG MARKT/h3 European Commission Brussels

MARKT/h3, European Commission Brussels Executive Summary.

6 BAEG Citations & Consultation & Development 32 European papers comments Summary of the responses to the public consultation on the report of the expert group on customer mobility in relation to bank accounts EC Brussels 2007 White paper/customer mobility: Part D: analysis of recommendations of the expert group 2007 WP 0327 ENG Customer mobility in relation to bank accounts. Study. Frankfurt/main, Germany bearing point management & technology consultants, 10 citations

White paper/customer mobility: Part D: analysis of recommendations of the expert group 2007 WP 0327 ENG Customer

7 Responses to the Consultations

8 Contributions by Territorial Origin

9 BA Over Europe: Tradition &Tools &Trends PART B: Tools BA tools as European TESTIMONY

10 BA European Testimony 1. Strategic Discussion on Customer Mobility 2. General key players 3. EU Research and tools 4. Information Asymmetry and Price Transparency 5. Bundling and Tying 6. Administrative Burden 7. Closing Charges 8. CB Laws and Regulations 9. CB Information Asymmetry and Uncertainty 10. CB Commercial Decisions by Banks

Information Asymmetry and Price Transparency 5. Bundling and Tying 6.

11 1. Strategic Discussion on Customer Mobility The future developments in payments market Switching vs. multi-banking Consumer behaviour Bank strategies

12 2. General key players Competitive pressure on providers to offer better prices and quality Customer mobility is determining the intensity of competition It is pre-requisite for well-functioning retail banking markets

mobility is determining the intensity of competition

13 3. Research and Tools Empirical research is needed Cost-benefit analysis and impact assessments Single Euro Payments Area (SEPA) Payments Services Directive (PSD) Principle of freedom of contract

14 4. Information Asymmetry and Price Transparency Financial education programmes Legal and regulatory information requirements Price lists in banks' branches and on www Domestic public glossary Database comparing prices of products and services EU portal with links to national comparative and information web

banks' branches and on www Domestic public glossary Database comparing

5. Product Tying and Bundling Tying and pure bundling should be prohibited While in case of mixed bundling, some specific information should be provided The interests

15 5. Product Tying and Bundling Tying and pure bundling should be prohibited While in case of mixed bundling, some specific information should be provided The interests of banks, but also of customers by reducing the total price and increasing choice A ban, according to them, would significantly affect the principle of freedom of contract

of banks, but also of customers by reducing the total price and increasing choice A

16 6. Administrative Burden Introduce an EU-wide account number portability The development of switching services Account number portability - costly change in current payments infrastructure based on IBAN and BIC Guide on cross-border switching

number portability - costly change in current payments

17 7. Closing Charges Closing fees on current accounts and simple savings accounts should be prohibited Consumers should have an opportunity to exit their contract at any time, without penalties Charges for closing products related to BA be clearly indicated in the agreement

opportunity to exit their contract at any time, without penalties

18 8. CB Laws and Regulations Legal requirements for BA Regulatory requirements for opening bank accounts in Member States on customer mobility Analyse the impact of anti-money laundering rules Know your customer" rules often create a barrier to cross-border provision of financial services Particularly in relation to non-face-to-face business

anti-money laundering rules Know your customer" rules often create a barrier to

19 9. CB Information Asymmetry and Uncertainty Websites in more than one linguistic version Open and non-discriminatory access to the registers Adequate consumer data protection rules Administrative requirements for opening a BA cross-border - as direct or indirect discrimination should be prohibited Definition of "indirect discrimination Standardisation of customer identification requirements Open BA by a qualified electronic signature Tax identification number (T.I.N.) Could be made a direct proxy for residence

indirect discrimination should be prohibited Definition of "indirect discrimination Standardisation of customer identification

20 10. CB Commercial Decisions by Banks Information about banks and BA to consumers from EU Legal right to a basic bank account, irrespective of nationals or nonnationals in a country Separating the issues of cross-border mobility and social inclusion Conduct a study into the accessibility of financial services Promote best practices developed by financial institutions Balanced with the obligations of banks under laws and regulations as well as risk management

and social inclusion Conduct a study into the accessibility of financial services Promote best practices developed

21 BA Over Europe: Tradition &Tools &Trends PART C Trends Trends in turbulent times

22 Programme Mission 2008 / European cycle of conferences Mutual learning on financial inclusion 31 st OCTOBER 2008 European day European Day of Action on Financial Inclusion to Promote a Right to a Bank Account 17th NOVEMBER 2008 Opening European workshop conference in Bratislava Basic Bank Accounts over Europe in Relation with Mutual financial inclusion: Tradition & Tools & Trends learning on

23 Customer dissatisfaction

24 Closing BA

25 New opening BA

26 Cross/border switching rate

27 Electronic / Online banking

28 BA over e Europe

29 Price discrepancy over the globe

30 You have to open BA for these services

31 Closing accounts Banking and Programme accounts from Bratislava for Europe Closing remarks and suggestions, closing speeches lead by Bernard Bayot and European follow up workshops, related agenda via supporting learning activities in Bratislava

DEUTSCHE BANK RESPONSE TO THE REPORT OF THE EXPERT GROUP ON CUSTOMER MOBILITY IN RELATION TO BANK ACCOUNTS

DEUTSCHE BANK RESPONSE TO THE REPORT OF THE EXPERT GROUP ON CUSTOMER MOBILITY IN RELATION TO BANK ACCOUNTS Deutsche Bank Dr. Bernhard Speyer/Dr. Stefan Schäfer Deutsche Bank AG/DB Research P.O. Box 60272 Frankfurt, Germany e-mail: stefan-a.schaefer@db.com Tel. +49 (0)69 910 31832 Fax +49 (0)69 910 31743 03.09.2007