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Europe Daily Bulletin No. 9891

29 April 2009
Contents Publication in full By article 12 / 42
GENERAL NEWS / (eu) ep/financial services
Multilateral interchange fees apply to cross-border direct debit under law

Brussels, 28/04/2009 (Agence Europe) - On Friday 24 April, without amendment, the European Parliament and the Council adopted two legislative proposals updating European rules applying to electronic payment services (see EUROPE 9882). At the end of 2002, the first rule on cross-border payments introduced a multilateral interchange fee (MIF) of €0.088, that the bank will invoice anyone who makes a cross-border direct debit payment. A directive sets out the conditions for entry of...

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