Thursday, November 20, 2003

Account number portability does not make sense.. European Commission agrees

The Belgian Association of Banks has released this press statement, which explains why it makes more sense to facilitate moving from one bank to another by means of a account-transfer service rather than by introducting account number portability. As an aside in the press-statement, it becomes clear that the European Commission actually agrees on that.

Thus, the chances that any legally prescribed account number 'portability' will ever be introduced have reduced considerably.