charged for Euro transfer with IBAN

martinblum

We are banking with RBS with whom we have a Euro account. When we receive or send payments to another Euro account within Europe, using the IBAN, we are being charged. As we understand the European Banking association and the UK Treasury advices banks to allow transfers that have been established by using the IBAN should be free of charge? Can you advise

Graham1

Unfortunately the EU regulation only states that banks can charge no more for a cross border € transaction than for a national € transfer - I suspect that's why UK banks stopped offering euro bacs transfers many years ago.

martinblum

Thank you - this makes sense. Barclays has informed us that since 2008 they are not charging for any transfers from and to Euro accounts if using the IBAN. Might have to change banks if RBS keeps on making charges.