Brussels, 04/09/2008 (Agence Europe) - The European Commission and the European Central Bank (ECB) said on Thursday 4 September that they accepted, subject to conditions, the principle of a multilateral interchange fee for crossborder SEPA direct debits in the very initial stage (e.g: direct debits of invoices) in the context of the Single Euro Payments Area (SEPA). Applicable by banks applying an interchange fee on national payments, the multilateral fee should be justified and applicable over a limited period of time, they state in a joint press release. Once the transition phase is over, no multilateral interchange fee could be applied to these operations, whether they are national or crossborder, under the SEPA direct debit scheme or former national systems.
“It may prove necessary to have a multilateral interchange fee for crossborder SEPA direct debits in the very initial stage. But we will have to be convinced that these fees will be strictly limited in time and objectively justified, .i.e. are not aimed at providing additional profits to banks”, states Commissioner Neelie Kroes, responsible for competition. According to Ms Gertrude Tumpel-Gugerell, who belongs to the ECB Executive Board, “it would not be acceptable that bankers are not able to deliver the SEPA direct debit by November 2009”. She goes on to add: “The idea of maintaining at national level the same interchange fee for national legacy and SEPA schemes during a limited transitional phase should facilitate the rolling out of the SEPA direct debit scheme. This would also ensure the necessary level playing-field in the national context for the SEPA direct debit scheme and the national legacy direct debit schemes”. (M.B./transl.jl)