Payment Account with Basic Features and Its Significance in the Reduction of Financial Exclusion in Poland

• Autorzy: Robert Huterski , Agnieszka Huterska , Michał Polasik
• Języki publikacji: EN

Abstrakty

EN

Motivation: The Payment Accounts Directive (PAD) constitutes an important regulation of the financial services market in the European Union resulting from premises of a social nature. Regarding the level of financial exclusion, Poland is third from the bottom in the European Union. Directive 2014/92/EU foresees an introduction of a payment account with basic features as a solution increasing the level of banking penetration ratio in the Member States. The changes introduced in the Polish Payment Services Act (PPSA) seem to be heading in this direction. Aim: The aim of this article is to evaluate the objectives of the aforementioned Directive and Act in the context of practical possibilities of achieving the basic objective of the regulations, i.e. the reduction of financial exclusion scale. An assessment of whether the implementation of the PAD in the Polish banking system will require considerable expenses and changes in the banks' market offer constitutes an additional objective of the article. Such an assessment requires taking into consideration the problems occurring both on the supply side, that is banks, and on the demand side, that is their customers. Results: The limited functionality and also attractiveness of a payment account with basic features, clearly shaped by the provisions of PAD, indicate that it is a solution aimed at a small group of consumers with low income and also low payment needs. Simultaneously, the emphasis indicated in PAD on the comparability of fees on payment accounts and on creating a commonly accessible service of transferring a payment account by consumers (as a consequence of easier comparison of account fees with its functionality in the offer of various providers) indicates that using a payment account with basic features may be of temporary character.(original abstract)

Słowa kluczowe

EN

Banking; Bank account; Financial services; Financial exclusion

PL

Bankowość; Rachunek bankowy; Usługi finansowe; Wykluczenie finansowe

• Czasopismo: Ekonomia i Prawo
• Rocznik: 2018
• Tom: 17
• Numer: nr 2
• Strony: 137--155

Twórcy

autor

Robert Huterski

• Nicolaus Copernicus University in Toruń, Poland

autor

Agnieszka Huterska

• Nicolaus Copernicus University in Toruń, Poland

autor

Michał Polasik

• Nicolaus Copernicus University in Toruń, Poland

Bibliografia

• Botis, S. (2017). The impact of financial education on banking behaviour. Acta Universitatis Danubius, 13(6).
• Bunyan, S., Collins, A., & Torrisi, G. (2016). Analysing household and intra-urban variants in the consumption of financial services: uncovering exclusion in an English city. Journal of Consumer Policy, 39(2). doi:10.1007/s10603-016-9319-7.
• Charter of Fundamental Rights of the European Union (OJ C 326, 26.10.2012).
• Council of the European Union. (2004). Joint report by the Commission and the Council on social inclusion. Retrieved 31.05.2018 from http://ec.europa.eu.
• Devlin, J.F. (2009). An analysis of influences on total financial exclusion. The Service Industries Journal, 29(8). doi:10.1080/02642060902764160.
• Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015).
• Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market amending Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and repealing Directive 97/5/EC (OJ L 319, 5.12.2007).
• Directive 2014/92/EU of the European Parliament and of the Council of 23 July 2014 on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (OJ L 257, 28.8.2014).
• European Banking Authority. (2017). Final report on final draft RTS and ITSS under PAD. Retrieved 31.05.2018 from https://www.eba.europa.eu.
• European Commission. (2008). Financial services provision and prevention of financial exclusion. Retrieved 31.05.2018 from http://ec.europa.eu.
• Kaplow, L., & Shavell, S. (1999). Economic analysis of law. Harvard Law School, John M. Olin Center for Law, Economics and Business, Discussion Paper, 251. doi:10.2139/ssrn.150860.
• Komisja Nadzoru Finansowego. (2017). Komunikat UKNF dot. realizacji przez dostawców usług płatniczych obowiązków wynikających z ustawy dnia 30 listopada 2016 r. o zmianie ustawy o usługach płatniczych oraz niektórych ustaw, implementującej postanowienia dyrektywy PAD. Retrieved 31.05.2018 from https://www.knf.gov.pl.
• Maciejasz-Świątkiewicz, M. (2013). Wykluczenie finansowe i narzędzia jego ograniczania. Opole: Uniwersytet Opolski.
• Muth, K.T. (2010). Fire with Fire, Heterodox Law & Economics. DePaul Business & Commercial Law Journal, 8(2).
• PKO Bank Polski. (2017). Retrieved 31.05.2018 from https://www.pkobp.pl.
• Polasik, M., & Piotrowski, D. (2016). Payment innovations in Poland: the role of payment services in the strategies of commercial banks. Ekonomia i Prawo. Economics and Law, 15(1). doi:10.12775/eip.2016.006.
• Polasik, M., Piotrowska, A., & Kumkowska, N. (2015). Rozwój przez innowacje czy efekt skali? Badanie uczestników polskiego systemu płatniczego. Streszczenie kierownicze. Retrieved 31.05.2018 from http://alterum.pl.
• Polasik, M., Piotrowska, A.I., Kumkowska, N., ALTERUM Centre for Research and Analysis of Financial System. (2014). Development through innovations or economies of scale? Study of the participants of the Polish payment system. Research project of the Warsaw Institute of Banking, No. WIB/2014/01.
• Projekt ustawy o zmianie ustawy o usługach płatniczych oraz niektórych innych ustaw z projektami aktów wykonawczych [A bill amending the act on payment services and some other acts with draft executive acts] (Sejm Rzeczypospolitej Polskiej, druk 2016 nr 785) (Poland).
• Rozporządzenie Ministra Rozwoju i Finansów z dnia 14 lipca 2017 r. w sprawie określenia wykazu usług reprezentatywnych, powiązanych z rachunkiem płatniczym [Regulation of the Minister of Development and Finance of July 14, 2017 on specifying a list of representative services associated with a payment account] (Dz.U. 2017 poz. 1437) (Poland).
• Rządowe Centrum Legislacji. (2016). Raport z konsultacji projektu ustawy o zmianie ustawy o usługach płatniczych oraz niektórych innych ustaw (UC 18). Retrieved 31.05.2018 from https://legislacja.rcl.gov.pl.
• Szopa, B., (Ed.). (2012). Wokół zagadnień bogactwa. Wrocław: Uniwersytet Ekonomiczny we Wrocławiu.
• Treaty on European Union (OJ C 326, 26.10.2012).
• Treaty on the Functioning of the European Union (OJ C 326, 26.10.2012).
• Ustawa z dnia 19 sierpnia 2011 r. o usługach płatniczych [Act of 19 August 2011 on payment services] (Dz.U. 2011 nr 199 poz. 1175) (Poland).
• Ustawa z dnia 30 listopada 2016 r. o zmianie ustawy o usługach płatniczych oraz niektórych innych ustaw [Act of 30 November 2016 amending the act on payment services and some other acts] (Dz.U. 2016 poz. 1997) (Poland).
• World Bank. (2015). Financial inclusion data. Retrieved 31.05.2018 from http://datatopics.worldbank.org/financialinclusion.

Identyfikatory

DOI

10.12775/EiP.2018.010