Saturday, January 12, 2019

Another New EU Rule

As of two days ago, there's a new EU rule in place that I'm very happy about.

Banks can now only charge as much for cross-border payments as they charge for domestic payments.  Yeah lower fees!

If your bank charges you €1 every time you withdraw money in your home country (outside of your bank's network), then they can't charge you any more than that when you make a withdrawal in any other EU country.  This includes transfers between bank accounts in different EU countries.

Brexit still hasn't happened so this applies to the UK as well.  Once, if ever, the Brexit does happen then here's another thing that will need to be worked out.

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