The cost of transferring money from one euro-zone country to another is likely to fall sharply fo...
The cost of transferring money from one euro-zone country to another is likely to fall sharply following discussions between leading banks spurred by European Commission pressure, according to the FT. Under an agreement to be finalised and presented to the Commission in the next few weeks, banks would charge each other a E3 ($2.64) maximum flat fee for small transactions. That could eventually bring the cost to the customer down to E10-E12 against the current average - according to a Commission study last year - of E17 for a small cross-border transfer compared with E1 for a domesti...
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