Cross-border payments in the European Union are essential to ensure the smooth functioning of the internal market. Regulations (EC) No 2560/2001 and (EC) No 924/2009 on cross-border payments in the Community marked significant milestones towards the objective of ’’making the concept of the euro zone as a ‘domestic payments area’ tangible and transparently clear to citizens.’’ The EACB also acknowledges the important function that the euro fulfils as the currency of the euro zone and is fully committed to support any action that will contribute to increase EU citizens’ confidence on it.
The EACB welcomes the European Commission’s proposal for a Regulation of the European Parliament and of the Council (EC) No 924/2009 as regards certain charges on cross-border payments in the Union and currency conversion charges. We would like to nevertheless express some reservations regarding the measures proposed to achieve the above-mentioned objectives.