Cheaper euro transfers: Council agrees its negotiating stance

27.06.2018

Photo: European Union


On 27 June 2018, EU ambassadors agreed the Council's negotiating stance on the Commission's proposal to make cross-border payments in euros cheaper across the EU. They asked the presidency to start negotiations with the European Parliament as soon as the Parliament is ready to negotiate.

"For a well-functioning single market, all consumers and businesses should have access to the same benefits when it comes to payments in euros. Today we agreed that a euro transfer should never be subject to a disproportionately high fee, whether or not the consumer is based in the euro area."

Vladislav Goranov, minister for finance of Bulgaria, which currently holds the Council presidency

Since 2009, cross-border and national transactions in euros cost the same price in the euro-area. However, cross-border payments in euros from non-euro countries are subject to high fees.

Read the full press release on the website of the Council of the European Union.

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