The ‘’How to open a bank account’’ module is divided into seven chapters:
– Chapter 1: EU legislation on the basic account
– Chapter 2: Bank account in Europe in 2023
– Chapter 3: How to open a bank account
– Chapter 4: How to open a bank account in the EU for a migrant
– Chapter 5: IBAN and International Money Transfers
– Chapter 6: Other means to manage your finance
– Chapter 7: Conclusions
“Anyone legally residing in the EU should have the right to open a basic payment account, and this right should not be denied on grounds of nationality or place of residence, ” reads a directive adopted by the European Parliament in 2014.
In the past, it was difficult to open a new bank account in a country as the banks were heavily regulated. As the economy has improved, the restrictions have been eased and you can open a bank account in Europe without difficulty. Opening a bank account nowadays is simple.
Based on this directive, the scope of the present document is to explain what a basic account is, what financial transactions it involves, what requirements someone needs to meet to open one, and also — why is it so important.
