EU approves ruling to chop charges for cross-border Euro transactions

The European Parliament has approved plans to make banks slash fees on cross-border euro payments between EU countries that are in the euro zone and those that are not. Currently, there is no difference for euro area residents or businesses if they carry out euro transactions in their own country or with another of the 19 euro area countries.
However, residents of EU countries outside of the euro area do not have the same privileges. For example, a EUR10 cross-border credit transfer from Bulgaria could be subject to a fee of up to EUR24. Read more…