Fees for money transfers in euro will decrease

As of the end of the year, citizens of EU member states will pay ten times lower fees for money transfers in euro. Annually, it will save over € 1 billion to all non-euro zone citizens, the Bulgarian MEP Eva Maydell explained during a discussion on the new rules on money transfers in euros, held in Sofia on 6^th of March.

They were adopted by the European Parliament a month ago to stop discrimination among payment service users within the EU.

Bulgaria has the highest fees for transfers in euro, followed by Romania, where the fee is almost twice lower, which is a clear example of a double standard between the countries that are in the Eurozone and those that are not, Eva Maydell noted.

The changes will have the biggest effect for Bulgarians, who very often transfer or receive money from their relatives abroad, as well as for Bulgarian companies, becausethey will not have to open bank accounts in the European country where they operate.

According to economist Lachezar Bogdanov, the lower fees will give Bulgaria an opportunity for an open economy and intensive exchange of goods.