Underusing SEPA leaves European citizens paying unnecessary banking fees
The European Central Bank has warned that households across south-eastern Europe still rely on costly money transfer services because the Single Euro Payments Area remains underused.
By United States of Europe editorial team · How we write editorial
Households across south-eastern Europe continue to rely on expensive money transfer services despite having access to cheaper cross-border options. In a recent blog post, the European Central Bank urged greater public awareness of the Single Euro Payments Area (SEPA), warning that costly payment methods remain widespread.
It is easy to see why legacy habits endure. Consumers often stick to familiar transfer providers or local banking routines because public awareness of shared European options remains low.
Yet financial friction across internal borders acts as a hidden tax on citizens. The single market is incomplete if moving money between member states remains needlessly expensive for ordinary households.
Building common infrastructure like SEPA is only the first step. National capitals and institutions must actively promote and enforce shared tools so every European citizen benefits from the single market.
Sources
- ECB urges greater use of SEPA as costly money transfers persist across Europe— Cyprus Mail(09/11/2026)