Transfers, online purchases, insurance cancellation… what Europe does for its consumers

Transfers, online purchases, insurance cancellation… what Europe does for its consumers
Transfers, online purchases, insurance cancellation… what Europe does for its consumers

“Consumers are not always aware of this. Sometimes countries and banks are ahead, sometimes they follow, but in every decision, it is their interest and their protection that must take precedence., summarizes Ralph Roggenbuck, lawyer at the European Consumer Center. We don’t always know it, but the protection of our payments, our ways of transferring money or changing the insurance of our cars are made easier by European laws, then adapted to the French level.

The SEPA transfer

Who has not received or made a transfer? Used for salaries, to pay for a video-on-demand subscription or to reimburse a friend, transfers are everywhere in our daily lives. Twenty years after the creation of a European banking market, a single euro payments area has been created. Since 2014, the SEPA system has facilitated transfers, direct debits or card payments within the European Union.

“On a daily basis, someone who works in Germany but lives in France can use their German (DE) IBAN to pay a French energy bill”…

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