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Next Previous Trip Abroad: What are the card charges HOME • INSIDER • CYPRUS • Travel Abroad: What are the card charges .jpg “alt =” & Tau; & alpha; & xi; ί & delta; & iota; & sigma; & tau; & omicron; & epsilon; & xi; & omega; & tau; & epsilon; & rho; & iota; & kappa; ό: & Pi; & omicron; & iota; & epsilon; & omicron; & iota; & chi; & rho; & epsilon; ώ & sigma; & epsilon; & iota; & sigmaf; & kappa; & alpha; & rho; & tau; ώ & nu; “/>
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Travel outside of Cyprus starts in anticipation of summer and what almost everyone who travels uses is the cards, either for paying for the air ticket, or for shopping abroad, or for booking a hotel or even for renting a car. “F” presents the main points concerning secure electronic payments, charges for using a card outside Cyprus, freezing money, direct charges, as well as what to do when one has a problem with the card, according to European directives. Many issues with the use of cards can be ignored and many times the cardholder may not be aware of their rights when doing business abroad.
A basic principle is that for cross-border withdrawal in euros, banks should not charge a higher commission than they would charge for an equivalent transaction in euros within the country. For example, if the bank charges € 3 each time cash is withdrawn from an ATM outside the bank's network, the same amount must be charged when withdrawing in another EU country. European regulations are clear. “Banks based in EU countries outside the euro area must also apply this rule and are not allowed to & nbsp; charge for payments in euro to another EU country or within it more than they charge for domestic payments in their national currency. No additional charges are allowed for card payments, credit or debit. This applies to all card purchases (in-store and online) across the EU. ” concerns:
● Transfers of funds between bank accounts held in different EU countries
● Withdrawals from ATMs in EU countries
με Payments by debit or credit card across the EU
ά Direct debit transactions
Banks based in non-euro area EU countries must also apply this rule and are not allowed to charge for euro payments to or within another EU country more than they charge for domestic payments in their national currency.
The European Commission also clarifies that the cardholder should keep in mind that if he pays in an EU currency other than the euro, the cardholder may charge a currency conversion fee when using the card in another country. However, the card provider, the bank, the merchant or the website that makes the transaction must & nbsp; inform the amount of each such fee, before the interested party agrees to the purchase. The Card Provider must provide a fee update on the terms and conditions of the Card on an easily accessible online platform, such as a website or application.
Card Usage Charges
When a cardholder pays for something in the EU using a credit or debit card, merchants and banks may not charge an additional fee – also known as an “extra charge” – simply because a particular card has been used. This rule applies to all card purchases (in stores or online) made in the holder's country or in another EU country. However, there is a clarification. Credit and debit cards issued by tripartite systems (such as American Express and Diners Club) as well as business or corporate credit cards charged by the employer & nbsp; are not covered by EU payment services rules; and therefore if one uses them one may be charged extra.
Commitment & nbsp;
Sometimes, the cardholder can make a reservation, e.g. at a hotel or car rental company. You may & nbsp; be required to provide & nbsp; card details as a booking guarantee. The merchant may also request a deposit from the card when booking. This means that the merchant keeps part of the credit line or account balance to cover any additional charges that the customer may incur, such as hotel room services or possible damage to a rented vehicle. The merchant must inform whether he intends to freeze any amount from the credit card, while the customer will have to give approval for this as well as the exact amount to be pledged. Once the payment is completed -e.g. when you use the credit card to pay for the room when leaving the hotel, or when you pay the bill when returning the rented car – the bank must immediately release the relevant amount from the credit card.
If a direct debit is found from the bank account, this can happen by mistake, e.g. if you canceled a contract with the supplier. In such cases, you have the right to a refund within 8 weeks. This applies to all direct charges, both within your own country and for cross-border direct charges within the EU.
What to do if you have a problem
If there is a problem with payments made within the EU, the cardholder should contact the bank or card provider. They must respond in writing to the complaint within 15 days (or within 35 days at most in some exceptional cases). They must also have a formal consumer complaint procedure.
If the cardholder needs something regarding the recognition of the rights, they can contact FIN-NET for any problems with financial service providers, or ECC-Net for problems with merchants.
May also report cases of discrimination due to IBAN code. This will enable the European Commission to closely monitor and assist in resolving complaints of discrimination on the basis of IBAN code submitted to the competent national authority.
Card and payment fraud >
EU rules limit the amount you may be required to pay if you fall victim to card or payment fraud – in the event that your card or account is debited without your permission. In all cases, all you can be asked to do is pay a maximum of 50 euros for the cost of the fraudulent payment. However, in cases where the loss, theft or embezzlement of money has been done without your knowledge (eg your account has been intercepted, or your credit card has been stolen and charged without your knowledge), you do not have to pay anything. The bank or card provider must cover all costs. This rule also applies in case the damage was caused by a bank employee.
Secure electronic payments over € 30
If someone wishes to make an electronic payment over 30 euros, the European Commission website states that it should use a combination of at least two identifiers, such as: p something it has (such as a mobile phone or card reader) and something it knows ( such as a PIN or password)
που Something he has (like a cell phone or card reader) and a completely personal feature (like a fingerprint)
που Something he knows ( such as a PIN or password) and a completely personal feature (such as a fingerprint)
This will make payments better protected and more secure.