EU Payment Accounts Ruling 'Could Have Wide Ramifications' For Fintechs

A recent ruling by the EU’s top court on the definition of a payment account could have far-reaching implications for banks and third-party providers, legal experts believe.

The Court of Justice of the European Union (CJEU) decided in October that a savings account from which payments cannot be made directly — an “intermediary” account is also required — cannot be considered a payment account.

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