(2004/C 78 E/0258)

WRITTEN QUESTION E-3317/03

by Íñigo Méndez de Vigo (PPE-DE) to the Commission

(10 November 2003)

Subject:   Cross-border payments

I have been informed that a Spanish citizen has been charged EUR 12 for transferring EUR 30 to Germany.

Does the Commission believe that this charge complies with Regulation (EC) 2560/2001 (1) on cross-border payments? Does the Commission believe that consumers' rights are adequately guaranteed? Are consumers properly informed about the fact that this Regulation has come into force?

Answer given by Mr Bolkestein on behalf of the Commission

(16 December 2003)

According to Regulation (EC) No 2560/2001 of the Parliament and of the Council of 19 December 2001 on cross-border payments in euro, charges levied by a financial institution for cross-border payments in euro shall be the same as the charges it levies in respect of corresponding national payments in euro. This rule applies to electronic payment transactions (payments by card and withdrawals at cash dispensers) in euro up to EUR 12 500 since 1 July 2002 and to credit transfers since 1 July 2003.

In Spain, charges for ‘standard’ credit transfers are well below EUR 12. However, ‘special credit transfers’ (i.e. transfers that are urgent or are made without indication of the IBAN (2) and BIC (3), etc.) can bear higher charges. Therefore, as long as, respectively, ‘standard’ and ‘special’ credit transfers in euro are subject to the same charges whether in Spain or cross-border, the principle established in Article 3 of the Regulation (equality of charges for ‘corresponding payments’) is in principle respected. In the case reported by the Honourable Member, it is unfortunately not clear whether the credit transfer is ‘special’ or ‘standard’. More detailed information would be needed to establish whether or not the charge of EUR 12 is in compliance with the Regulation.

As regards the enforcement of the Regulation, national authorities must guarantee that it is applied adequately and consistently. Article 7 of the Regulation provides that the compliance shall be guaranteed by effective, proportionate and deterrent sanctions. The Commission wrote to all Member States in September 2003 requesting the name of the competent national authority and the implementing measures taken by Member States.

As regards the level of information of citizens concerning the entry into force and content of the Regulation, financial institutions have to make available to their customers prior information on the charges levied for cross-border and national payments, and to communicate to each customer upon request his IBAN and BIC (Articles 4 and 5 of the Regulation). According to information available to the Commission, this information has been disseminated, despite a number of complaints by citizens regarding lack of clarity of the information provided by some banks. The Commission continues to closely monitoring the issue.

(1)  OJ L 344, 28.12.2001, p. 13.

(2)  International Bank Account Number.

(3)  Bank Identifier Code.