Il bank decree, approved yesterday in the Senate, in addition to the reform of public banks brings an interesting novelty for all owners of a checking account. Article 2 of the law transposes a European directive on current account portability and so, from now on, change current account it will not only be easier but also faster and above all free.
The rule provides that banks (and in general all institutions that provide payment services) must guarantee customers the possibility of move a checking account within 12 working days. Article two also states that this current account portability procedure should not involve costs for the account holder and may also allow for the automatic transfer of direct debit of utilities or recurring debits.
The mode of transfer from a checking account to another it involves filling out a form at the bank chosen by the account holder. In the event of non-compliance, there are fines for bank managers of up to 64 thousand euros and compensation for account holders who may be delayed. These compensations will be defined later by a ministerial decree.
