Filenews 6 January 2022 - by Theano Thiopoulou
Bank customers who wish to do so can open a payment account with basic features ("basic" account), but should be aware that this account provides specific benefits (including a maximum charge of 36 euros per year) but also places restrictions on the services that the customer can receive from the bank.
As there has been a lot of confusion in recent days about the "basic" account and there is a lot to be heard as to who is entitled and who is not entitled to open such an account, "F" attempts to transfer some useful information to clarify some points.
Not the running
For example, there are questions and there is generally confusion as to whether the current account can be converted into a payment account with basic features. We are informed from banking sources that the current account has - as a rule - a credit limit and that is why the banks consider that it cannot be converted into an account with basic characteristics. Also, the current one provides the customer with the possibility to issue a cheque booklet, a possibility that the payment account with basic features does not provide, so this is another deterrent reason for its exploitation by some consumers.
However, if one wants, one can convert his savings account into a basic account, as in such accounts there is no credit limit of overdraft.
Only one, say the banks
What the consumer - customer should know is that he can, if he wants, open a payment account with basic characteristics, regardless of whether he has other -different- accounts in the same bank or elsewhere. However, under the 2020 decree, it must be a natural person and not a legal person (company) and it must - the banks argue - maintain a payment account with basic characteristics in a -only- bank. In fact, bank employees ask for a written confirmation from customers that they do not have a basic account with another bank. This point is causing quite a bit of confusion, particularly after the meeting of the parliamentary Trade Committee on Wednesday, during which the finance minister allegedly said that citizens are entitled to open a basic account in more than one bank. Members of the committee said yesterday that at the next meeting to discuss the issue of bank charges they will demand that this aspect be finally clarified, as well as some others concerning the basic accounts.
The services provided
In general, the interested consumer should be aware that this -basic- account has no overdraft limit, the card for cash withdrawal is only debit (to spend the customer's money that exists in the specific account) and not a credit (for money provided by the bank) and cannot have a cheque booklet through this account.
More specifically, through this account the following services are provided:
- carrying out all the operations necessary for the opening, operation and closure of a payment account,
- deposit of cash, cheques and payroll remittances,
- cash withdrawals through a customer service cashier or through cash registers during or outside the opening hours of the credit institution,
- direct debits, for example for the purposes of paying utility bills,
- payments by payment card, including online payments,
- credit transfers, including standing orders, from terminals, customer service funds and online, depending on the services offered by each credit institution.
