Who is affected?

The provisions of the Act cover various products, including the following ones which are relevant for the financial sector:

  • payment terminals (allowing payments at a physical point of sale but not in a virtual environment); and
  • automated teller machines (ATMs)

(together, the In-Scope Products).

In addition, the Act introduces new obligations for providers of (among others) consumer banking services, which include:

  • granting of consumer credit;
  • certain investment services (reception and transmission of orders, execution of orders, portfolio management and investment advice) and relevant ancillary services;
  • payment services and services linked to payment accounts; and
  • e-money issuance

(together, the In-Scope Services).

For this purpose, the notion of a consumer comprises any natural person acting outside his trade, business, craft or profession when using the In-Scope Products or receiving the In-Scope Services.

Under the new Act, any “economic operator”, i.e., any manufacturer, the authorised representative, the importer, the distributor or service provider of the In-Scope Products and/or In-Scope Services must comply with a series of requirements ensuring that such products and services are accessible to persons with disabilities (including all individuals with long-term physical, mental, intellectual or sensory impairments which in interaction with various barriers may hinder their full and effective participation in society on an equal basis with others).

Financial institutions (notably, credit institutions, investment firms, payment institutions, e-money institutions) qualify as “economic operators” within the above meaning.

New obligations for financial sector entities

Accessibility standards for In-Scope Products and In-Scope Services

In-Scope Products and In-Scope Services must meet a series of accessibility standards, in order to allow for the maximum foreseeable use by persons with disabilities.

All information relating to In-Scope Products and In-Scope Services must be accessible in a clearly understandable and perceivable manner, allowing for various accessibility features and alternative formats. Such information includes instructions of use, as well as contractual documents, terms and conditions, disclosures, etc. provided by financial institutions in relation to the In-Scope Products or In-Scope Services.

The user interface of In-Scope Products must offer multi-sensory communication alternatives, adaptable visual and audio features, privacy protections, and other sector-specific enhancements (such as text-to-speech technology, personal headsets, adequate contrast, extended time limits, etc.).

Similarly, website platforms, mobile applications and support services (help desks, call centres, technical support, relay services and training services) relating to In-Scope Products and/or In-Scope Services must be compatible with assistive technologies and must be provided in accessible modes of communication.

Identification methods, electronic signatures, security, and payment services must be provided in a way that is perceivable, operable and robust and any relevant information provided must be understandable (i.e., not exceeding a level of complexity superior to level B2 (upper intermediate) of the Council of Europe’s Common European Framework of Reference for Languages).

The Act provides a list of practical examples of cases where the above accessibility standards are considered to be satisfied.

The above obligations apply to In-Scope Product manufacturers (as well as any financial sector entity distributing such products, who shall be required to verify their compliance with the Act’s accessibility standards) and to financial sector service providers offering In-Scope Services in the EU.

Certain exemptions are provided for microenterprises (i.e., enterprises with fewer than 10 employees, and with an annual turnover or annual balance sheet of less than EUR 2 million).

Information obligations

Financial institutions offering In-Scope Services must include accessible information in their general terms or equivalent documents explaining how such services meet the above accessibility standards, covering service design and operation, providing descriptions in accessible formats and demonstrating that service delivery and monitoring is performed in compliance with the Act.

Exemption due to disproportionate burden

Financial institutions may not comply with the above accessibility standards in relation to In-Scope Products and In-Scope Services, where such compliance:

  • requires a significant change in the fundamental nature of an In-Scope Product or In-Scope Service; and/or
  • entails a disproportionate burden on the financial institutions concerned.

For this purpose, financial institutions must perform an internal assessment of whether compliance with the Act’s requirements would have any of the impacts listed above, properly document the results of such assessment and review them on a regular basis to ensure they remain accurate. Particularly when it comes to a disproportionate burden, such an assessment would include an evaluation of several parameters listed in the Act, including the ratio of compliance costs to overall costs and turnover (considering both one-off organizational expenses and ongoing production costs) in comparison with the expected benefits for persons with disabilities.

Proof of such assessment may be requested by the competent authority of each Member State in charge of monitoring compliance of products and services with the Act’s requirements. In Luxembourg, this would be the Monitoring office on the accessibility of products and services (Office de la surveillance de l’accessibilité des produits et services), a public administration under the supervision of the Ministry of Family Affairs, Solidarity, Living Together and Reception of Refugees.

Next steps

The new Act applies at most part as from 28 June 2025. Each Member State may postpone the application until 28 June 2030. Luxembourg has used this discretion when transposing the Act under the Law of 8 March 2023 on the accessibility requirements for products and services.

For existing self-service terminals, a transitional period to ensure compliance is provided under the Act (until the end of their life or for 20 years upon their entry into use, whichever is sooner). Similarly, In-Scope Service contracts may continue operating under their current status for a period of up to 5 years or until they expire, whichever sooner.

Failure to comply with the Act can result in significant legal, financial, and reputational consequences as a result of the imposition of administrative and criminal penalties.

We recommend service providers in the financial sector (particularly those offering In-Scope Services to retail clients) to assess whether they may be in-scope of the Act and (if so) familiarise themselves with the newly provided accessibility standards. A gap analysis of their current organisational arrangements in relation to In-Scope Products and In-Scope Services against the requirements imposed under the Act, as well as sufficient training of staff (particularly those who are client facing) on accessibility matters are highly encouraged.

Additional actions suggested include a review of third-party contracts (notably on the use of In-Scope Products) to verify compliance with the Act, as well as updating relevant information / disclosures on In-Scope Products and In-Scope Services to ensure they offer the conformity explanation required under the Act and maintaining procedures to ensure that the provision of services always remains compliant with the Act.