Follow Us

Follow us on Twitter  Follow us on LinkedIn

25 July 2001

Commission proposal on regulation of cross-border payments

The regulation proposes that the price of a cross-border payment operation in euros within the European Union should be no different than that of national operations. The regulation will apply to cross-border payments on a maximum amount of 50 000 euros, but not beyond that. As a result, it will cover the majority of payments made by consumers and SMEs.
The aim is to improve the operation of the internal market by encouraging technical operators on the market to introduce the infrastructures, set the standards and conclude the commercial agreements that are essential for the good operation of a single currency area. This alignment of the charge for cross-border payments with that for national payments should not result in an increase in the cost of the latter. The regulation contains a certain number of measures intended to facilitate these operations, such as the compulsory respect of certain standards or the prohibition of declaration obligations.

See also the Commission press release
and the frequently asked questions

© European Commission

< Next Previous >
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information

Add new comment