02009R0924 — EN — 19.04.2021 — 005.001
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REGULATION (EC) No 924/2009 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 September 2009 on cross-border payments in the Community and repealing Regulation (EC) No 2560/2001 (OJ L 266 9.10.2009, p. 11) |
Amended by:
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Official Journal |
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No |
page |
date |
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REGULATION (EU) No 260/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 14 March 2012 |
L 94 |
22 |
30.3.2012 |
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REGULATION (EU) 2019/518 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 19 March 2019 |
L 91 |
36 |
29.3.2019 |
REGULATION (EC) No 924/2009 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
of 16 September 2009
on cross-border payments in the Community and repealing Regulation (EC) No 2560/2001
(Text with EEA relevance)
Article 1
Subject matter and scope
Notwithstanding the first subparagraph of this paragraph, Articles 3a and 3b shall apply to national and cross-border payments that are denominated either in euro or in a national currency of a Member State other than the euro and that involve a currency conversion service.
Article 2
Definitions
For the purposes of this Regulation, the following definitions shall apply:
‘cross-border payment’ means an electronically processed payment transaction initiated by a payer or by or through a payee where the payer’s payment service provider and the payee’s payment service provider are located in different Member States;
‘national payment’ means an electronically processed payment transaction initiated by a payer, or by or through a payee, where the payer’s payment service provider and the payee’s payment service provider are located in the same Member State;
‘payer’ means a natural or legal person who holds a payment account and allows a payment order from that payment account, or, where there is no payment account, a natural or legal person who gives a payment order;
‘payee’ means a natural or legal person who is the intended recipient of funds which have been the subject of a payment transaction;
‘payment service provider’ means any of the categories of legal person referred to in Article 1(1) of Directive 2007/64/EC and the natural or legal persons referred to in Article 26 of that Directive, but excludes those institutions listed in Article 2 of Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions ( 1 ) benefiting from a Member State waiver exercised under Article 2(3) of Directive 2007/64/EC;
‘payment service user’ means a natural or legal person making use of a payment service in the capacity of either payer or payee, or both;
‘payment transaction’ means an act, initiated by a payer or by or through a payee, of placing, transferring or withdrawing funds, irrespective of any underlying obligations between the payer and the payee;
‘payment order’ means an instruction by a payer or payee to his payment service provider requesting the execution of a payment transaction;
‘charge’ means any amount levied on a payment service user by a payment service provider that is directly or indirectly linked to a payment transaction, any amount levied on a payment service user by a payment service provider or a party providing currency conversion services in accordance with Article 59(2) of Directive (EU) 2015/2366 of the European Parliament and of the Council ( 2 ) for a currency conversion service, or a combination thereof;
‘funds’ means banknotes and coins, scriptural money and electronic money as defined in Article 2(2) of Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions ( 3 );
‘consumer’ means a natural person acting for purposes other than his or her trade, business or profession;
‘micro-enterprise’ means an enterprise, which, at the time of conclusion of the payment service contract, is an enterprise, as defined in Article 1 and Article 2(1) and (3) of the Annex to Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises ( 4 );
‘interchange fee’ means a fee paid between the payment service providers of the payer and of the payee for each direct debit transaction;
‘direct debit’ means a payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent given to the payee, to the payee’s payment service provider or to the payer’s own payment service provider;
‘direct debit scheme’ means a common set of rules, practices and standards agreed between payment service providers for the execution of direct debit transactions.
Article 3
Charges for cross-border payments and corresponding national payments
The competent authorities shall issue guidelines to identify corresponding national payments where they consider it necessary to do so. The competent authorities shall actively cooperate within the Payments Committee established in accordance with Article 85(1) of Directive 2007/64/EC to ensure the consistency of guidelines for corresponding national payments.
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Article 3a
Currency conversion charges related to card-based transactions
In addition to the information referred to in paragraph 1, a party providing a currency conversion service at an ATM or at the point of sale shall provide the payer with the following information prior to the initiation of the payment transaction:
the amount to be paid to the payee in the currency used by the payee;
the amount to be paid by the payer in the currency of the payer's account.
Notwithstanding the first subparagraph, such a message shall be sent once every month in which the payer's payment service provider receives from the payer a payment order denominated in the same currency.
The payment service provider shall offer payment service users the possibility of opting out of receiving the electronic messages referred to in paragraph 5.
The payment service provider and the payment service user may agree that paragraph 5 and this paragraph do not apply in whole or in part where the payment service user is not a consumer.
Article 3b
Currency conversion charges related to credit transfers
Article 4
Measures for facilitating the automation of payments
In addition, where applicable, a payment service provider shall indicate the payment service user’s IBAN and the payment service provider’s BIC on statements of account, or in an annex thereto.
A payment service provider shall provide the information required under this paragraph to the payment service user free of charge.
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Article 5
Balance of payments reporting obligations
Article 6
Interchange fee for cross-border direct debit transactions
In the absence of any bilateral agreement between the payment service providers of the payee and of the payer, a multilateral interchange fee of EUR 0,088, payable by the payment service provider of the payee to the payment service provider of the payer, shall apply for each cross-border direct debit transaction executed before 1 November 2012, unless a lower multilateral interchange fee has been agreed upon between the payment service providers concerned.
Article 7
Interchange fee for national direct debit transactions
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Article 9
Competent authorities
Member States shall designate the competent authorities responsible for ensuring compliance with this Regulation.
Member States shall notify the Commission of those competent authorities by 29 April 2010. They shall notify the Commission without delay of any subsequent change concerning those authorities.
Member States may designate existing bodies to act as competent authorities.
Member States shall require the competent authorities to monitor compliance with this Regulation effectively and take all necessary measures to ensure such compliance.
Article 10
Complaint procedures for alleged infringements of this Regulation
Member States may use or extend existing procedures for that purpose.
Article 11
Out-of-court complaint and redress procedures
Article 12
Cross-border cooperation
The competent authorities and the bodies responsible for out-of-court complaint and redress procedures of the different Member States, referred to in Articles 9 and 11, shall actively and expeditiously cooperate in solving cross-border disputes. Member States shall ensure that such cooperation takes place.
Article 13
Penalties
Without prejudice to Article 17, Member States shall, by 1 June 2010, lay down rules on the penalties applicable to infringements to this Regulation and shall take all measures necessary to ensure that they are implemented. Such penalties shall be effective, proportionate and dissuasive. Member States shall notify those provisions to the Commission by 29 October 2010 and shall notify it without delay of any subsequent amendment affecting them.
Article 14
Application to currencies other than the euro
Article 15
Review
By 19 April 2022, the Commission shall present to the European Parliament, the Council, the ECB and the European Economic and Social Committee a report on the application and impact of this Regulation, which shall contain, in particular:
an evaluation of the way payment service providers apply Article 3 of this Regulation, as amended by Regulation (EU) 2019/518 of the European Parliament and of the Council ( 6 );
an evaluation of the development of volumes and charges for national and cross-border payments in national currencies of Member States and in euro since the adoption of Regulation (EU) 2019/518;
an evaluation of the impact of Article 3 of this Regulation, as amended by Regulation (EU) 2019/518, on the development of currency conversion charges and other charges related to payment services, both to payers and payees;
an evaluation of the estimated impact of amending Article 3(1) of this Regulation to cover all currencies of Member States;
an evaluation of how providers of currency conversion services apply the information requirements laid down in Articles 3a and 3b of this Regulation and the national legislation implementing Articles 45(1), 52(3) and 59(2) of Directive (EU) 2015/2366, and whether those rules have enhanced the transparency of currency conversion charges;
an evaluation of whether and to what extent providers of currency conversion services have faced difficulties with the practical application of Articles 3a and 3b of this Regulation and the national legislation implementing Articles 45(1), 52(3) and 59(2) of Directive (EU) 2015/2366;
a cost-benefit analysis of communication channels and technologies that are used by, or are available to, providers of currency conversion services and that can further improve the transparency of currency conversion charges, including an evaluation of whether there are certain channels which payment service providers should be required to offer for the sending of the information referred to in Article 3a; that analysis shall also include an assessment of the technical feasibility of disclosing the information in Article 3a(1) and (3) of this Regulation simultaneously, prior to the initiation of each transaction, for all currency conversion options available at an ATM or at the point of sale;
a cost-benefit analysis of introducing the possibility for payers to block the option of currency conversion offered by a party other than the payer's payment service provider at an ATM or at the point of sale and to change their preferences in this regard;
a cost-benefit analysis of introducing a requirement for the payer's payment service provider, to apply, when providing currency conversion services in relation to an individual payment transaction, the currency conversion rate applicable at the moment of initiation of the transaction when clearing and settling the transaction.
When preparing its report, the Commission may use data collected by Member States in relation to paragraph 1.
Article 16
Repeal
Regulation (EC) No 2560/2001 is repealed, as from 1 November 2009.
References to the repealed Regulation shall be construed as references to this Regulation.
Article 17
Entry into force
This Regulation shall enter into force on the 20th day following its publication in the Official Journal of the European Union.
It shall apply from 1 November 2009.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
( 1 ) OJ L 177, 30.6.2006, p. 1.
( 2 ) Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35).
( 3 ) OJ L 267, 10.10.2009, p. 7.
( 4 ) OJ L 124, 20.5.2003, p. 36.
( 5 ) OJ L 94, 30.3.2012 p. 22.
( 6 ) Regulation (EU) 2019/518 of the European Parliament and of the Council of 19 March 2019 amending Regulation (EC) No 924/2009 as regards certain charges on cross-border payments in the Union and currency conversion charges (OJ L 91, 29.3.2019, p. 36).