91998E4028

WRITTEN QUESTION E-4028/98

by Leonie van Bladel (UPE) to the Commission

(8 January 1999)

Subject: The cost of introducing the euro

1. Is the Commission aware that following the introduction of the euro banks are charging their customers Fl 5 per transaction for electronic cash transactions outside the Netherlands?

2. Is the Commission also aware that the banks are also charging FL 0,5 for electronic cash transactions in the Netherlands?

3. Does the Commission realise that the FL 5 per transaction in other countries is forcing customers to withdraw larger sums in order to reduce costs? A single withdrawal of FL 500 costs FL 5, whereas five transactions of FL 100 cost FL 25.

4. Does the Commission agree that this does not increase personal safety, given the larger sums of money withdrawn abroad to cut costs?

5. In view of the fact that all the banks charge the same rate, is the Commission prepared to examine whether the banks have established a monopoly or have abused a monopoly position?

6. If so, what action will the Commission take?