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Credit transfers

Credit transfers account for a substantial part of the volume and value of cross-border payments. By establishing transparency obligations, minimum standards regarding execution time and a money-back guarantee in case a transfer gets lost, and by introducing the rule of equal charging for domestic and cross-border payments, the Community aims at ensuring that funds can be transferred from one part of the Community to another rapidly, reliably and at reasonable cost.

 Legislation

 Guide on cross-border credit transfers in euro

  • How to make your transfers faster, cheaper and more reliable with IBAN and BIC
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  • Read more on the EuropeDirect freephone number

 Studies

 Frequently asked questions

  • Cross-border transfers in euro as from 1 July 2003, MEMO/03/140

 Press releases

26.6.2003EU Regulation aligns charges for cross-border transfers in euro, IP/03/901
15.11.2001  Commission welcomes Parliament’s support for proposal on cross-border payments in euro, IP/01/1595
20.9.2001New Commission study confirms persistent high charges, IP/01/1293
23.5.2000Commission urges banks and Member States to cut costs, IP/00/505
4.2.2000Commission urges banks to improve cross-frontier payment systems

 National Complaint Boards