Brussels, 22/06/2000 (Agence Europe) - The European Commission services organised, on Thursday, a meeting with the relevant Member State administrations, concerning application of the Community directive on bank charges (charges that the banks levy on bank transfers from one Member State to another, commissions for exchange operations, transfer delays, etc.).
The results of the last inquiry on this subject (made public last month; see EUROPE of 24 May, p.13) had been disconcerting. It had appeared that, in a considerable number of cases, a double levy had been charged, that is, not only to the person making the transfer but also to the person receiving it, even when the first had explicitly pointed out that he/she would pay all costs involved. In addition, the cost of transfers, which can vary considerably according to the bank, were in several cases clearly excessive.
The aim of the Commission is not to fix a ceiling for charges as this is an independent commercial decision to be taken by the banks but to: a) ensure that clients are fully and correctly informed of the costs, so that they may bring competition into play between banks; b) ensure abolition of the double charge, which is banned by the directive in force. Consultations with the national administrations cover the results of the inquiry cited and the initiatives taken in Member States to ensure compliance with the 1997 directive, mainly by making available to users an official body where complaints may be filed and which gives its stance in the case of conflict. Generally, the situation is not considered by the Commission as satisfactory.