Commissioner for Financial Services, Financial Stability and Capital Markets Union, Maria Luís Albuquerque, has assured that the European Commission is in contact with relevant national authorities regarding Oberbank's decision to stop providing cash services, but currently has no indications that consumers lack sufficient access to basic banking services in the affected region. The answer, given on 27 July 2026, responds to a parliamentary question from Rada Laykova (ESN) and follows up on an earlier reply by Commissioner Valdis Dombrovskis.
Albuquerque reiterated that the Commission's proposal on the legal tender of euro banknotes and coins, which introduces obligations for Member States to monitor and report on cash access and acceptance levels, remains central to ensuring sufficient and effective access to cash. She noted that the Commission is working with co-legislators to reach a swift agreement on the proposal. The answer also references the Euro Legal Tender Experts Group (ELTEG III) final report of 6 July 2022, which recommended that policy measures ensure euro cash availability and cash lodgements as services of general interest.
Under the Payment Accounts Directive (PAD), credit institutions must offer basic banking services, including cash deposits and withdrawals, as part of a payment account with basic features (PABF), to the extent they already offer those services to other consumers. Member States are required to ensure that all or a sufficient number of credit institutions offer PABFs. Albuquerque stated that the Commission is in contact with national authorities and, at present, does not have indications that there would not be a sufficient number of credit institutions offering PABFs and cash services in the relevant region.
The answer does not provide specific results of the Commission's engagement with Austrian authorities, nor does it set a timeline for further action. It reaffirms the Commission's commitment to monitoring the situation through existing legal frameworks and ongoing dialogue with Member States.
Consumers in regions affected by bank withdrawals may face reduced access to cash services, though the Commission sees no immediate shortfall. Banks could face continued scrutiny over their social role in providing cash services. National authorities bear responsibility for assessing compliance with EU law on a case-by-case basis. The Commission's proposal on legal tender, if adopted, would impose new monitoring and reporting obligations on Member States, potentially increasing administrative burden.