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The PIR reviews requirements on business to improve the transparency and comparability of fee information about payment accounts (including current accounts), facilitate the switching of payment accounts, and ensure access to a basic bank account.

The recommendation of the PIR to keep the Regulations is broadly supported by the evidence and analysis presented. However, the PIR would benefit significantly from providing further details of how the unintended consequences identified and suggestions to reduce burdens on business will be taken forward at some future time, and from explaining further why they do not warrant amending the Regulations at this stage.