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Commission proposal for an EU Regulation to facilitate professional cross-border transportation of euro cash by road

16.07.2010 - The regulation will ensure that euro banknotes and coins can be easily and safely transported across national borders within the euro area.

The Commission on 14 July adopted a proposal for an EU Regulation on the professional cross-border transportation of euro cash by road between euro-area Member States. After more than eight years since the introduction of euro banknotes and coins, the Commission finds it is high time to make sure that euro cash can be easily and safely transported across national borders within the euro area.

Current problems of professional euro cash transport

Due to strong differences between national legislations it is very difficult to transport euro banknotes and coins by road between euro-area Member States on a professional basis and very little such transportation therefore takes place. This is contrary to the principle of a single currency - euro banknotes and coins should be able to circulate and be transported as freely as possible within the euro area.

What the Commission proposes

To facilitate cross-border transportation of euro cash within the euro area by replacing the different national rules by a set of common EU rules for professional cross-border cash transports by road. Domestic transports of euro cash will not be affected.

In addition, a separate proposal will extend the scope of the rules to the territory of Member States that have not yet adopted the euro as from the date when the Council decides that they are allowed to introduce the euro, that is to say from around six months before the changeover.

Envisaged benefits

  • The proposal will make it possible to increase the efficiency of the cash cycle and lower the costs for cash-in-transit (CIT) companies and their customers by allowing for more efficient transport routes and more competition in border regions.
  • Banks, retailers and other professional cash handlers in border regions will be able to benefit from integrated contract management and cash handling across borders. They will also benefit from increased competition between CIT-companies and a wider choice of service providers.
  • CIT-companies will be able to optimise logistics of transport and cash handling and have access to a larger market in border regions.
  • Lower costs for CIT-companies and their customers and possibilities for better service will ultimately also benefit the consumer.

Next steps

The adopted Commission proposal must now be adopted by the European Parliament and the Council in order to enter into force.

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