In 2019, cross-border payments made in euro will cost no more than the equivalent national transfer made in the local currency, anywhere in the European Union, the European Commission announced on Wednesday 28 March, presenting a legislative proposal to amend the regulation (924/2009) on cross-border payments.
The measure, which was announced in its action plan on retail financial services (see EUROPE 11752), is aimed at “granting citizens and businesses in non-euro area countries the...