On 24th February, 2016, the Chamber of Deputies approved a bill amending Act No. 284/2009 Coll. on the payment system and other related laws. The objective is to harmonize Czech and EU legislation based on transposition of the Basic Pay- ment Accounts Directive into Czech law.
The proposed changes allow all consumers in the EU to open a payment account with basic elements in any EU Member State, introduce a standardized approach to altering a pay- ment account and, no less importantly, contribute to achiev- ing greater transparency and comparability of fees charged by payment services providers. The bill also transposes the EU Regulation on Intercharge Fees for Card-based Transac- tions into Czech law.