WRITTEN QUESTION E-2963/00 by Daniela Raschhofer (NI) to the Commission. Time taken by bank transfers.
Date: 2000-09-20
Institutions: European Parliament, Provisional data
Subjects: banking, credit transfer, intra-EU payment, law of banking

C 136 E/142

Official Journal of the European Communities

EN

8.5.2001

(2001/C 136 E/166)

WRITTEN QUESTION E-2963/00

by Daniela Raschhofer (NI) to the Commission

(20 September 2000)

Subject: Time taken by bank transfers

Although, since the introduction of
the
Community currency, bank transfers both at national level and within the EU still take several days. It is
incomprehensible in the age of on-line transactions why bank customers should have to wait several days
to be credited with transfers while the banks are reaping the resulting not inconsiderable profits both from
interest received and interest saved.

the euro, national currencies are now only (cid:145)sub-units(cid:146) of

In its answers to Written Questions E-0109/99 of 29 March 1999 (1) and P-3864/98 of 28 January
1999 (2), the Commission emphasised the need to achieve improvements in this area.

The central banks in the Member States have in the meantime gone over to real-time transfers.

Will the Commission state:

(cid:129) whether since then specific improvements have been made and/or when they will be made?

(cid:129) when real-time transfers for customers of the commercial banks will be introduced?

(cid:129) how much money is not credited to consumers through loss of interest?

(cid:129) how large are the gains of the banks from possible interest payments?

(cid:129) whether this practice possibly represents a kind of cartel (concerted behaviour)?

(cid:129) whether an efficient and economic solution for customers is being worked on in connection with

various projects such as e-europe?

(1) OJ C 348, 3.12.1999, p. 22.
(2) OJ C 182, 28.6.1999, p. 130.

Answer given by Mr Bolkestein on behalf of the Commission

(26 October 2000)

The Commission has explained on numerous occasions that the introduction of the euro per se would not
have the mechanical effect of substantially reducing the cost of cross-border transfers and would not
reduce the time they take, mainly because the necessary infrastructure is not available. In its Communica-
tion of 31 January 2000 on retail payments in the internal market (1), the Commission urges banks to
improve the structures used to process small value cross-border payments. Several initiatives have been
launched, such as the establishment of the IBAN (International Bank Account Number) or IPI (International
Payment Instruction) and the setting-up of a system for processing small value transfers (STEP 1). The
Commission is working to promote a significant improvement in the situation by 1 January 2002.

Directive 97/5/EC on cross-border credit transfers (2) states that transfers must be completed within six
days. A study carried out for the Commission on € 100 transfers, which was published in April 2000,
indicates that the average duration was 3,4 days but that just over 4 % of transactions took more than six
days. The Commission is concerned about this failure to comply with the Directive, and has asked the
Member States for explanations.

The other questions are based on the assumption that transactions are effected in real time. As far as cross-
border transfers are concerned, this is possible in certain exceptional cases but it is not the general rule. It
is estimated that 90 % of transactions still require manual intervention at some point or other. All the
initiatives currently under way are designed to make these transactions completely automatic.

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Official Journal of the European Communities

C 136 E/143

Lastly, the Honourable Member raises the issue of value dates. The Commission takes the view that these
arrangements are an element of competition and that therefore the customer should be informed of them.
It does not have any information on interest losses or gains as a result of this mechanism. If credit
institutions have agreed between themselves to apply the same value dates, this may constitute an
infringement of Community competition rules.

(1) COM(2000) 36 final.
(2) OJ L 43, 14.2.1997.

(2001/C 136 E/167)

WRITTEN QUESTION E-2964/00

by Richard Howitt (PSE) to the Commission

(20 September 2000)

Subject: Access to information

Does the Commission agree that information for EU citizens, for example as that provided under the
Europe Direct Programme, should always be available in alternative formats, such as Braille, audio tape and
large print, for the many EU citizens, including 7,4 million blind and partially-sighted people, who cannot
read standard print?

Answer given by Mrs Reding on behalf of the Commission

(30 October 2000)

The Commission has taken several steps to improve access to information for blind and partially sighted
people.

Europe Direct itself represents a move away from the traditional reliance on printed information, in that it
is designed in the first instance as a free phone enquiry service based on a call centre with trained staff
specialising in Community questions.
thus gives the citizens free choice as how to receive the
information they are looking for.

It

The Commission has also moved much of its information provision onto the Internet, notably via the
Europa site, where partially sighted readers can generally use an options menu to increase the font size.
Making better use of digital technology in this context, including voice recognition and text-to-speech
software is one of the points currently being examined by the Commission with a view to improving and
developing the Europa web site.

The Commission(cid:146)s information in connection with the preparations for the euro in defining the technical
characteristics of the Euro coins and notes is available in braille, and sign language projects, for instance,
will be eligible for support under the 2001 European year of languages initiative.

(2001/C 136 E/168)

WRITTEN QUESTION E-2967/00

by Mariotto Segni (UEN) to the Commission

(20 September 2000)

Subject: Regulations Nos 2408/92 and 3577/92

The aim of Council Regulation (EEC) No 2408/92 (1) of 23 July 1992 on access for Community air carriers
to intra-Community air routes and Council Regulation (EEC) No 3577/92 (2) of 7 December 1992 applying
the principle of freedom to provide services to maritime transport within Member States (maritime