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Consultations & legislation
17 September 2002
In December 2001, the European Parliament and the Council of the European Union adopted the Regulation on cross-border payments in euro. It came into force on the 31st December 2001. The main objective of the Regulation is to prohibit institutions from charging more for certain cross-border payments in euro than for corresponding payments in euro transacted within the Member State. Further, it requires institutions to be transparent with their charges for such payments and to disseminate International Bank Account Numbers and Bank Identifier Codes in order to facilitate cross-border credit transfers.
This consultation document proposes sanctions for the breach of the Regulation in the United Kingdom, as required by Article 7.
The documents are available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website.
