nt is importa onditions c ir fit e fa n r e e b d s un rs to ent service nd allows consume m y a p c si a b on a Access to cial inclusi ial and so c n a n fi t. r e fo mark the single fully from
BANKING
1. Access to a current payment account Universal access to a bank current account for people who want it. Which should include: • Affordable cost for low-income people; • Appropriate transaction tools to live a normal life in their own society; • Means of payment - free of charge or lower cost means of payment should be available for all, including people on low incomes. 2. Transparent and comparable financial services terminology, fees and interest rate
SAVINGS A lack of savings is a major cause of financial insecurity which makes households extremely vulnerable, in particular when faced with life’s difficulties. For them, the slightest “accident” can have disproportionate effects and serious consequences, not only economically and financially but also psychologically. 3. Urgent action to understand the needs of low-income savers At the very least, for Member States to develop co-ordinated approaches to financial inclusion across their own jurisdictions, enabling relevant organisations to pool their knowledge and develop coherent recommendations about how to turn these priorities into action (e.g. in working out how to develop truly "appropriate products") 4. Appropriate savings facilities for people on low incomes and adequate products to allow those with low and/or irregular incomes to save small amounts or irregularly
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