Michael McGrath (Cork South Central, Fianna Fail)
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67. To ask the Minister for Finance the status of plans to provide basic bank accounts to low-income households; and if he will make a statement on the matter. [12279/16]

Michael Noonan (Limerick City, Fine Gael)
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My Department is currently transposing the EU Payment Accounts Directive which requires that all consumers legally resident in the EU must have access to a payment account with basic features, free of charge or for a reasonable fee, regardless of their financial circumstances.

The Directive also requires Member States to raise awareness among the public about the availability of payment accounts with basic features and to ensure that communication measures reach out to unbanked, vulnerable and mobile consumers.  The Directive must be transposed by 18 September 2016.