10 Amendments of Luděk NIEDERMAYER related to 2018/0076(COD)
Amendment 21 #
Proposal for a regulation
Recital 3
Recital 3
(3) High charges for cross-border payments remain a barrier to the full integration into the single market of businesses and citizens in non-euro area Member States. They perpetuate the existence of two categories of payment service users in the Union: on the one hand payment service users, the vast majority of which benefit from the single euro payments area (‘SEPA’), and on the other hand, payment service users that pay high costs for their cross-border payments in euro, and are therefore disadvantaged compared to businesses and citizens from euro area Member States.
Amendment 25 #
Proposal for a regulation
Recital 4
Recital 4
(4) In order to facilitate the functioning of the Single Market and end the barriers between payment service users in the euro area and non-euro area Member States in respect of cross-border payments in euro, it is necessary to ensure that charges for cross-border payments in euro within the Union are aligned with charges for domestic payments made in the official currency of a Member State in which the payment service is offered to payment service users.
Amendment 31 #
Proposal for a regulation
Recital 5
Recital 5
(5) Currency conversion charges represent a significant cost of cross-border payments when different currencies are in use in the payer’s and the payee’s countries. Article 45 of Directive (EU) 2015/2366 of the European Parliament and of the Council12 requires transparency of charges and of the exchange rate used prior to the initiation of a payment transaction. When alternative currency conversion options are offered at a point of sale or at an automated teller machine (ATM), that transparency may not allow for a quick and clear comparison between those different currency conversion options. That lack of transparency prevents competition from bringing down costs of currency conversion and increases the risk of payment service users choosing more expensive currency conversion options. Article 59 of Directive (EU) 2015/2366 already provides for general requirements regarding information disclosed by the currency conversion service provider, but further specification is needed in order to achieve the objective of this Regulation. It is therefore necessary to develop measures addressed to payment service providers that will improve transparency and protect consumers against excessive charges forchoosing currency conversion services, in particular when consumers are not given the information they need to choose the best currency conversion option with excessive charges due to lack of transparency. _________________ 12 Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35).
Amendment 36 #
Proposal for a regulation
Recital 5 a (new)
Recital 5 a (new)
(5a) Achieving this objective requires that payment service users are provided with all currency conversion options simultaneously in a clear and neutral manner to avoid situations where currency conversion options are preselected or presented in a misleading manner to the payment service user.
Amendment 43 #
Proposal for a regulation
Recital 6 a (new)
Recital 6 a (new)
Amendment 49 #
Proposal for a regulation
Recital 7
Recital 7
(7) Considering the technical level of the measures required in particular for transparency in currency conversion charges, the Commission should be empowered to adopt regulatory technical standards developed by the European Banking Authority with regard to the level of transparency required and the comparability of currency conversion services that will allow payment services users to make a well-informed decision about which currency conversion service they wish to use. The Commission should adopt those draft regulatory technical standards by means of delegated acts pursuant to Article 290 Treaty on the Functioning of the European Union and in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council13 . _________________ 13 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).
Amendment 68 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point a
Article 1 – paragraph 1 – point 2 – point a
Regulation (EC) No 924/2009
Article 3 – paragraph 1
Article 3 – paragraph 1
1. Charges levied by a payment service provider on a payment service user in respect of cross-border payments in euro shall be the same as the charges levied by that payment service provider on payment service users for corresponding national payments of the same value and in the official currency of the Member State in which the payment service provider offers its service to the payment service user’s Member State.
Amendment 78 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EC) No 924/2009
Article 3 a – paragraph 1
Article 3 a – paragraph 1
1. From [OP please insert date 3624 months after the entry into force of this Regulation], payment service providers shall inform payment service users of the full cost of currency conversion services, and where applicable, those of alternative currency conversion services prior to the initiation of a payment transaction in accordance with Article 59 of Directive (EU) 2015/2366, in order that payment service users can compare alternative currency conversion options and their corresponding costs without preselection of one of the options being made by the payment service provider. To that effect, payment service providers shall disclose the exchange rate applied, the foreign exchange reference rate used and the total amount of all charges applicable to the conversion of the payment transaction and the final amount of the transaction. If any of the required information cannot be determined at the time before initiation of the transaction, the consumer shall be informed of the exchange rate used by the payment service provider for settlement on that day or the day preceding the transaction, of the payment transaction. fact that exchange rate applied will be determined at a later point in time and the maximum amount of charges that will apply.
Amendment 114 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EC) No 924/2009
Article 15
Article 15
By 31 OctoDecember 20221, the Commission shall present to the European Parliament, the Council, the European Economic and Social Committee and the European Central Bank a report on the application of this Regulation, accompanied, if appropriate, by a proposal. That report shall cover, in particular, the appropriateness of amending Article 1(2) to ensure that this Regulation covers all currencies of Member States of the Union.
Amendment 118 #
Proposal for a regulation
Article 2 – paragraph 2
Article 2 – paragraph 2
It shall apply from 1 January 2019[3 months after entry into force of this Regulation].