The European Central Bank this week called on EU banks

Date: 16/09/1999

to improve the cross-border payment services provided to the public to enable their customers to take greater advantage of the single currency. The ECB said that despite the introduction of the euro, there were still significant differences in the quality, efficiency and prices of domestic and international retail payment systems. “The substantial disparities between domestic and cross-border services ought now to be reduced and should ultimately disappear,” it said. The bank said customers should be provided with efficient and cheap payment systems by 1 January 2002, the day when euro banknotes and coins will be introduced.