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EU Slashes Cross-Border Euro Transaction Fees

Law360 (December 19, 2018, 5:55 PM EST) -- Consumers in the European Union paying for goods or withdrawing money in euros will now pay the same transaction fees, regardless of whether they reside outside the eurozone, thanks to new rules passed Wednesday by lawmakers.  

The European Parliament and the European Council struck a deal on a EU Commission proposal geared toward making cross-border payments in euros cheaper, even for those businesses and residents who live outside the eurozone.

Under the new rules, payments in euros outside the eurozone but within the EU will now be priced as domestic payments in that country's currency, lowering and even eliminating the fees...

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