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Money matters

Cross-border payment rules come into force

No, really... it does!
But does it matter more in Malta than at home?

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Cross-border payment rules come into force

Postby scubabaz » Sat 16 Jan 2010 10:09 GMT

I have just read that Banks will no longer be able to charge more for payments from one country to another than they do for payments within a country. I find this all very confusing but does this mean I will soon be able to transfer money from my UK account to my Maltese account without any additional charges?

The entire Regulation is available on the following web page: http://eur-lex.europa.eu/LexUriServ/Lex ... 018:EN:PDF
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Postby gozomark » Sat 16 Jan 2010 11:38 GMT

from the link

(1) For the proper functioning of the internal market and in order to facilitate cross-border trade within the Community it is essential that the charges for cross- border payments in euro are the same as for corresponding payments within a Member State
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Postby johnofessex » Sat 16 Jan 2010 16:55 GMT

If I've got this right - the costs of transferring EUR from one country to another might be contained. The costs of converting GBP to EUR won't be. Though one can of course shop around for the best deal on that.
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