The European Commission plans to lighten transfer of bank accounts’ rules in Bulgaria, starting November 2009
Last update: 2009-02-27 07:46:43
The European Commission plans to lighten transfer of citizens' accounts rules from one safety vault to another /from one bank to another/. This will be possible from November, 2009. А unified European format for bank accounts will be prepared which will be obligatory even for electricity and water supply bills.
Representatives of the European Commission have arranged with the European bank association to improve the bank services by preparing and passing a code, instead of all financial institutions to have to pass obligatory directives. The purpose of this code shall be to ease the clients of European banks.
The present procedure is expensive and slow. It is very difficult for a client to move his documents and accounts from one bank to another.
From November, 2009 clients may go to a new bank, which shall become a middleman between him and the previous bank. This means that the new bank will get the necessary information from the previous bank. The liquidation of the previous account and giving information to the client or the new bank will be free of charge.