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Cross Border Payments Regulation (CBPR)

What is the CBPR2?

It is about 518/2019 Cross-Border Payments Regulation (CBPR2), a piece of legislation introduced by the European Union which amends CBPR1 and aiming to (i) further extend scope of fee equalisation requirements and (ii) introduce new transparency obligations for card transactions and credit transfers.

As per the regulation its implementation has been split into 3 phases:

Phase 1 – Equalisation, implemented on 15th December 2019 as per the inclusion of non-Euro EU countries.

Phase 2 – Transparency on online and mobile credit transfers and card based transactions implemented as from19th April 2020.

Phase 3 – Electronic notifications for estimated currency conversion charges, as from 19th April 2021.

What are the benefits of CBPR2?

As an HSBC customer you benefit from the regulation on the following occasions:

  • charges for cross-border payments in euro within the European Union (EU) (or EEA, if applicable) should be no more than equivalent domestic payments in national currencies including non-Euro EU countries. So when you are sending Euro to your family in another European country, you will pay same charge as if it were a credit transfer to someone in your country. This requirement benefits customers in non-Euro EU countries
  • when you make as from 19 April 2020 online or mobile credit transfers involving EU (or EEA if applicable), currency conversion you are being informed prior to transfer initiation about 1) estimated charges for currency conversion services 2) estimated total amount of credit transfer in the currency of the payer’s account including any transaction fee and any currency conversion charges and 3) estimated amount to be transferred to the payee
  • whenever you use your card abroad as from April 19th, 2020 you will be able to find out how the estimated cost to you of making card transactions within the EU (or EEA, if applicable) compares to the foreign exchange rate(s) issued by the European Central Bank.

This information will be available to you here.

What kind of payments does CBPR2 apply to?

The regulation applies directly to intra-EU payments in the currency of an EU member state and only for card based transactions and credit transfer that is initiated online directly, using the website or the mobile banking application of the Bank.

The regulation does not apply directly to EEA currencies or to payments to/from EEA jurisdictions. However, it is expected to be adopted into EEA law in due course. HSBC therefore, proactively included EEA currencies in the scope of CBPR2.


These changes have been all done for you and for your benefit. If you find any changes related to CBPR2 unclear or making your online banking more difficult, please let us know by using our contact details.

General terms and conditions for individuals – version 03/2021 (PDF, 2.40MB)
(effective for new customers immediately and from 15/05/2021 for existing customers)