Press Release: Commission proposes extension of rules on cross-border euro payments to direct debits

The European Commission put forward a proposal modifying the provisions and extending the scope of the 2001 Regulation on cross-border euro payments, under which cross-border bank transfers in euro within the EU cost the same as domestic transfers. The proposal came in response to the rapid evolution of the EU payments market. It aimed at extending the principle of equality of charges to direct debit payments. It also contained some provisions enhancing the protection of consumer interests and rights and alleviating the statistical reporting burden.

European Commission: MEMO/08/621: Cross-border euro payments: Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/08/621&format=HTML&aged=0&language=EN&guiLanguage=en

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