On 12 May 2023, there was published a report from the European Commission to the European Parliament and the Council regarding the application of the Payment Accounts Directive (PAD). The report has been published in response to Article 28 of the PAD which requires the Commission to provide a report on the application of the Directive by 18 September 2019. The Commission delayed the publication of the report due to the need to ensure that the Directive had been in application for a certain amount of time.

The Commission has in parallel adopted the report required by Article 27 of the PAD. Under Article 27 of the Directive the report provides information on the following:

• Compliance by payment service providers with Articles 4, 5 and 6.
• Compliance by Member States with the requirements to ensure the existence of comparison websites pursuant to Article 7.
• The number of payment accounts that have been switched and the proportion of applications for switching that have been refused.
• The number of credit institutions offering payment accounts with basic features, the number of such accounts that have been opened and the proportion of applications for payment accounts with basic features that have been refused.