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Parliamentary questions
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9 August 2018
Question for written answer E-004255-18
to the Commission
Rule 130
Nadja Hirsch (ALDE)

 Subject:  FinTechs suffer from IBAN discrimination
 Answer in writing 

Article 9 of Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro provides that neither a payer nor a payee shall specify the Member State in which that payment account is to be located, provided that the payment account is reachable.

This regulation enables FinTechs, which provide their customers with an IBAN account for processing payment transactions (such as N26), to market their service throughout Europe. In reality, potential customers encounter IBAN‐ discrimination by companies, energy providers, etc.

In the light of the above, will the Commission say:
1. Is it aware that FinTechs are unable to realise their potential owing to IBAN discrimination?
2. What measures does the Commission plan to take to counter persistent discrimination in order to enforce existing legislation for the benefit of FinTechs and their customers?
3. How important does the Commission consider the achievement of a Single European Payments Area to be for the purpose of completing the Digital Single Market?
Original language of question: DE 
Last updated: 28 August 2018Legal notice