Legislative accounts

Besides standard commercial accounts, banks are also obliged to offer so called ‘legislative accounts', i.e. basic accounts that must be opened in compliance with the law. The following table contains a basic comparison of these accounts and the persons they are intended for.

 

Basic bank account

Payment account with      basic features

Price

Free of charge

Maximum €3

Payment services

Deposits and withdrawals.  

Non-cash transfers (including   direct debits or standing orders).

One international payment card.

Payments by the card issued.

Deposits and withdrawals.

Non-cash transfers (including direct debits or standing orders).

One international payment card.

Payments by the card issued.

Criteria for

the applicant

Financial consumer older than

18 years.

Fin. consumer - EU resident

Fin. consumer - asylum seeker

Financial consumer who has not been granted a residence permit but cannot be expelled.

 

The applicant has no account.  (except for a deposit account, passbook or savings account).

Net monthly income below        

€400.

Income subject to no limit.

The applicant has no payment account with the bank, including all the banking services that are attached to a standard account.

Limitations

The total amount of funds paid         into the account may not exceed €5,600 per year.

No other payment account may      be opened.

Prohibition on opening another payment account comprising all the banking services that are attached to a standard account.