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EC: cheaper cross-border Euro payments

In Hungary

pexels

As of December 16, cross-border payments in euros will be lower for consumers and businesses in non-euro area member states, the European Commission Representation in Hungary said in a statement. 

Image: Pexels

The EU rules ensure that for non-euro area member states (Bulgaria, Croatia, the Czech Republic, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden) the cross-border payments in euro fee will equal the fee for domestic payments.

So, for example, anyone who wants to send a euro abroad will now pay the same fee as if they were transferring their own currency within their own country.

Valdis Dombrovskis, the European Commission’s Executive Vice President for an Economy that Works for People, said: “These rules enable our citizens and businesses to benefit equally from the low cost of cross-border payments in euro. This is a positive and concrete example of how the single market can bring real benefits to European consumers.”

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