Activities of Stanisław OŻÓG related to 2018/0076(COD)
Plenary speeches (1)
Charges on cross-border payments in the Union and currency conversion charges (debate) PL
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EC) No 924/2009 as regards certain charges on cross-border payments in the Union and currency conversion charges PDF (566 KB) DOC (67 KB)
Amendments (8)
Amendment 26 #
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 euroany national currency used in any Member State within the Union are aligned with charges for domestic payments made in the official currency of athe respective Member State.
Amendment 32 #
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, in particular at a point of sale or, at an automated teller machine (ATM) or in the form of credit transfers, 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 payers choosing expensive currency conversion options. It is therefore necessary to develop measures, addressed to the payment service providers providing services as listed in Annex I to the Directive (EU) 2015/2366, that will improve transparency and protect consumers against excessive charges for currency conversion services, in particular when consumers are not given the information they need to choose the best currency conversion option. _________________ 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 39 #
Proposal for a regulation
Recital 6
Recital 6
(6) Transparency in currency conversion charges requires adapting current payment infrastructures and processes, in particular for payments made online, at the point of sale or for ATM cash withdrawals. To that end, market players should be given sufficient time to adapt their infrastructure and processes in relation to those provisions that relate to currency conversion charges in order to comply with regulatory technical standards to be adopted by the Commission. In particular, the non-DCC service providers providing services at a sale of point or ATM should not be required to disclose estimated currency conversion rate before the transaction, due to the extended accounting period and the risk of changes in the reference rate. Instead, they should be required to improve their information policies to the customers, including transparent and easily accessible information on how the currency conversion charges are to be applied in an individual case.
Amendment 58 #
Proposal for a regulation
Recital 8
Recital 8
Amendment 69 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point a Regulation (EC) No 924/2009
Article 1 – paragraph 1 – point 2 – point a Regulation (EC) No 924/2009
1. Charges levied by a payment service provider on a payment service user in respect of cross-border payments in euroany national currency used in any Member State 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 ofMember State in which the payment service provider offers its service to the payment service user’s Member State.
Amendment 76 #
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 36 months after the entry into force of this Regulation], the payment service providers shall inform payment service users of the full cost of cmeet the following transparency requirements: (a) at every point of sale and ATM the option of payment in the local currency, i.e. not requiring Dynamic Currency cConversion services, and where applicable, those of alternative currency conversion, must be offered to the payment service user. The option of Dynamic Currency Conversion must not be either the only one available to the payment service user or set up as default one; (b) if a point of sale or ATM offer both currency conversion options, i.e. the transaction requiring Dynamic Currency Conversion and the transaction without Dynamic Currency Conversion, the availability of the both options shall be disclosed to the payment services user prior to the initiation of a paymentthe transaction, in a neutral manner, without any predefined option or suggestion of which choice to make; (c) when the transaction, in order that payment service users can compare alternative ccluding Dynamic Currency Conversion is initiated, its providers shall inform the payment service user of the full cost to the user of dynamic currency conversion services. To that effect, the exchange rate applied shall be disclosed as well as the total amount of all charges applicable to the conversion of the payment transaction; (d) when the transaction without Dynamic Currency cConversion options and their corresponding costs. 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. is initiated, its providers shall inform the payment service user of all the fixed margins and fixed fees applicable to the transaction. In addition, after having noticed the first transaction in any month transaction involving currency conversion performed by the user, its providers shall immediately remind the user, via electronic and mobile communication channels, i.e. mobile text message and e- mail message, how the currency conversion transactions are managed and charged by the relevant provider. In particular, the messages shall contain an electronic link to the excerpt of the current table of fees and commissions, clearly limited to the currency conversion options as well as to the table of the current exchange rates of the provider; (e) when the transaction of a credit transfer including currency conversion is initiated, payment service providers shall inform payment service users of the estimated full cost of credit transfer currency conversion services prior to the finalisation of the transaction. Payment service providers shall disclose the total amount of all charges applicable to the conversion of the payment transaction in both the currency of the payer and the payee including any transaction fee and the charge levied in the difference between the exchange rate used for converting the payment transaction as applied to the transaction amount. The payment service provider should also estimate to the payer the total amount to be received by the payee after the payment service providers chargers have been levied.
Amendment 92 #
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 2 – subparagraph 2
Article 3 a – paragraph 2 – subparagraph 2
Amendment 113 #
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 and impact of this Regulation, accompanied, if appropriate, by a proposal. That reportwhich shall cover, in particular, the appropriateness of amending Article 1(2) to ensure thatof this Regulation to ensure that it covers all currencies of Member States of the Union., accompanied with a proposal for appropriate amending this Regulation.