Date: 21st December 2018

This week, on the 19 December, the new rules for cross-border payments have been given a green light by EU, as announced by the European Commission on its Press release. Such an agreement will ensure that consumers and businesses in both euro and non-euro countries would benefit from the same transactions fees between the EA and non-EA. Besides that, currency conversion charges will be fully transparent and comparable, allowing consumers to save money on conversion costs. This not only includes online banking but also merchants and ATM operators.

Such regulations are also supported by BETTER FINANCE that, however, had emphasized the necessity to cover all cross-border transactions in any currency of EU Member States, regardless of where they take place (intra EA and intra non-EA and the wider EEA).

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