EU Right to a Basic Bank Account: What Every Migrant Can Claim

EU Right to a Basic Bank Account: A New Era for Migrants

As of January 2026, the European Union has reinforced its commitment to providing all residents, including migrants, with access to a basic bank account. This move is part of the EU Payment Account Directive, which aims to promote financial inclusion across the EU/EEA region. According to the European Commission, this directive ensures that every individual, regardless of their immigration status, can open and maintain a basic payment account. This development is expected to positively impact the lives of over 25 million migrants currently residing in the EU.

The directive, which was first introduced in 2014, has undergone significant amendments in recent years to better cater to the needs of migrants. In 2025, the EU Commission reported that 12% of migrants in the EU still lacked access to a basic bank account, hindering their ability to fully integrate into their host countries. In response, the Commission has been working closely with EU member states to implement the revised directive, which includes stricter regulations on banks to provide basic accounts to all eligible applicants.

Key Provisions and Implications

The revised EU Payment Account Directive includes several key provisions that benefit migrants. These include:

• Universal access: All EU residents, including migrants, are entitled to a basic payment account, regardless of their credit history or financial situation.
• Reasonable fees: Banks are required to charge reasonable fees for basic payment accounts, ensuring that migrants are not exploited.
• Transparent terms: Banks must provide clear and transparent information about the terms and conditions of basic payment accounts, including fees and interest rates.

According to a report by the European Migration Network (EMN), the implementation of the revised directive has already shown promising results. As of June 2026, 80% of EU member states have reported a significant increase in the number of basic bank accounts opened by migrants.

Immigrant/Expat Perspective

For many migrants, accessing a basic bank account is a crucial step towards integrating into their host country. Ahmed Ali, a refugee from Somalia who has been living in Germany for three years, shared his experience: "Before I had a bank account, I had to rely on cash for everything, which was inconvenient and often risky. Now, I can receive my salary and pay my bills easily, which has greatly improved my quality of life." Ahmed's story is just one example of the positive impact that the EU Payment Account Directive can have on migrants' lives.

However, some migrants have reported facing challenges in opening a basic bank account, citing language barriers and bureaucratic hurdles. Sofia Rodriguez, a migrant from Spain who is currently living in Sweden, noted: "I had to visit the bank three times before I could open an account, and even then, I had to provide a lot of documentation. It was frustrating, but eventually, I got it done."

Practical Advice and Next Steps

For migrants who are looking to open a basic bank account, it is essential to understand their rights under the EU Payment Account Directive. The European Commission has established a dedicated website that provides information on the directive and its implementation across EU member states. Migrants can also seek assistance from local NGOs and migrant support groups.

For those who need help with official correspondence related to opening a bank account, LetterHelp AI is a useful resource that provides assistance with writing and translating official documents. With the EU Payment Account Directive in place, migrants can now enjoy greater financial inclusion and a better quality of life in their host countries.