Basic Bank Account definition
Examples of Basic Bank Account in a sentence
If, on the other hand, the costs of a Basic Bank Account are capped so that there is a net cost to banks of €30 per account, then if these accounts were to be provided to the 11.58 to 18.19 million consumers who might be financially excluded, the net costs to banks would be of the order of €350 to €550 million per annum.
Limitation on Liability of Servicer and Others............................................36 Section 5.04.
While it is the case that all countries with legislative frameworks for a Basic Bank Account have high levels of bank account penetration, some of the countries without legislation or guidance charters in this respect do provide useful examples of successful private sector solutions.
We can now look at each of the processes that need to be undertaken to provide a Basic Bank Account.
Earlier in the report we considered the definition of a Basic Bank Account.
There has been a long-term policy in France to promote social and financial inclusion through various policy measures, of which providing access to a Basic Bank Account is one.
Improving access to a Basic Bank Account for a greater number of individuals will reduce the opportunity for such stigmatisation and is beneficial to the individual.
Before examining the current state of financial exclusion across the EU, we briefly define for the purpose of this study the key terms financial exclusion and Basic Bank Account.
This section first summarises the potential costs and benefits to other stakeholders of the provision of a Basic Bank Account.
Using a Basic Bank Account for payments either electronically or through debit cards has benefits from reducing the likelihood of vulnerability to loss, theft and security of the person.