Cross Border Payments Regulation (CBPR)

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Cross Border Payments Regulation

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 15^th 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 from19^th April 2020.

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

How can I compare the currency conversion charges when I use my card in the European Economic Area (EEA)?

Why should I compare currency conversion charges

When you use your card in the European Economic Area (1), you may choose to pay in the local currency or in euros. Where the transaction is denominated in an EEA currency other than Euros and you decide to pay in euro, you’ll then have to pay the currency conversion charges of the ATM operator or point of sale. If you choose to pay in the local currency, the conversion will be done by HSBC Continental Europe, Greece with a fee charged to your bank account.

(1) European Union countries and also Liechtenstein, Iceland and Norway.

What this means for you

The currency you decide to pay in will determine the amount of currency conversion fees you‘ll be charged. According to European regulation (2), all payment service providers must publish their currency conversion charges as a percentage mark-up over the last euro foreign exchange reference rates issued by the European Central Bank (ECB). The table below details our current mark-ups for each EEA currency. This will make it easier for you to compare our rates with those of different payment service providers.

(2) Regulation (EU) 2021/1230 on cross-border payments in the Union.

How do I choose the best way to pay?

Find the relevant table for the transaction you want to make: ATM cash withdrawal or point of sale payment. Then, select the relevant local currency and either Visa or Mastercard, depending on your card, in the table. The lower the percentage shown, the lower the mark-up.

About our rates

The tables below are regularly updated to use the latest euro foreign exchange reference rates published by the European Central Bank (ECB). If you choose to pay in a local currency other than Euro, the conversion for this payment will be made at the rate offered by Visa or Mastercard depending your card.

The mark-ups shown below may be different from those applied to payments because Visa and Mastercard use the conversion rate of the day the transaction is processed and not the day of payment. This means the actual percentage mark-up applied could be higher or lower than those shown below.

Indicative % mark-ups for using your card in the EEA

Last updated on: 9/6/23, 12:02

Using an ATM


Currency	VISA Debit Card	VISA Credit Card	Mastercard Debit Card	Mastercard Credit Card
Bulgarian Lev (BGN)	3.00%	4.00%	N/A	4.00%
Croatian Kuna (HRK)	%	%	N/A	%
Czech Korona (CZK)	3.18%	4.19%	N/A	4.13%
Danish Krone (DKK)	3.01%	4.01%	N/A	4.02%
Hungarian Forint (HUF)	3.87%	4.88%	N/A	4.88%
Icelandic Króna (ISK)	3.21%	4.22%	N/A	3.57%
Swiss Franc (CHF)	3.65%	4.66%	N/A	4.65%
Norwegian Krone (NOK)	3.32%	4.33%	N/A	4.35%
Polish Zloty (PLN)	3.23%	4.23%	N/A	4.11%
Romanian Lei (RON)	4.01%	5.02%	N/A	4.98%
Swedish Krona (SEK)	3.33%	4.34%	N/A	4.23%


Currency	Bulgarian Lev (BGN)
VISA Debit Card	3.00%
VISA Credit Card	4.00%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.00%

Currency	Croatian Kuna (HRK)
VISA Debit Card	%
VISA Credit Card	%
Mastercard Debit Card	N/A
Mastercard Credit Card	%

Currency	Czech Korona (CZK)
VISA Debit Card	3.18%
VISA Credit Card	4.19%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.13%

Currency	Danish Krone (DKK)
VISA Debit Card	3.01%
VISA Credit Card	4.01%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.02%

Currency	Hungarian Forint (HUF)
VISA Debit Card	3.87%
VISA Credit Card	4.88%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.88%

Currency	Icelandic Króna (ISK)
VISA Debit Card	3.21%
VISA Credit Card	4.22%
Mastercard Debit Card	N/A
Mastercard Credit Card	3.57%

Currency	Swiss Franc (CHF)
VISA Debit Card	3.65%
VISA Credit Card	4.66%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.65%

Currency	Norwegian Krone (NOK)
VISA Debit Card	3.32%
VISA Credit Card	4.33%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.35%

Currency	Polish Zloty (PLN)
VISA Debit Card	3.23%
VISA Credit Card	4.23%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.11%

Currency	Romanian Lei (RON)
VISA Debit Card	4.01%
VISA Credit Card	5.02%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.98%

Currency	Swedish Krona (SEK)
VISA Debit Card	3.33%
VISA Credit Card	4.34%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.23%

Making a purchase e.g. in a shop or restaurant


Currency	VISA Debit Card	VISA Credit Card	Mastercard Debit Card	Mastercard Credit Card
Bulgarian Lev (BGN)	3.00%	4.00%	N/A	4.00%
Croatian Kuna (HRK)	%	%	N/A	%
Czech Korona (CZK)	3.18%	4.19%	N/A	4.13%
Danish Krone (DKK)	3.01%	4.01%	N/A	4.02%
Hungarian Forint (HUF)	3.87%	4.88%	N/A	4.88%
Icelandic Króna (ISK)	3.21%	4.22%	N/A	3.57%
Swiss Franc (CHF)	3.65%	4.66%	N/A	4.65%
Norwegian Krone (NOK)	3.32%	4.33%	N/A	4.35%
Polish Zloty (PLN)	3.23%	4.23%	N/A	4.11%
Romanian Lei (RON)	4.01%	5.02%	N/A	4.98%
Swedish Krona (SEK)	3.33%	4.34%	N/A	4.23%


Currency	Bulgarian Lev (BGN)
VISA Debit Card	3.00%
VISA Credit Card	4.00%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.00%

Currency	Croatian Kuna (HRK)
VISA Debit Card	%
VISA Credit Card	%
Mastercard Debit Card	N/A
Mastercard Credit Card	%

Currency	Czech Korona (CZK)
VISA Debit Card	3.18%
VISA Credit Card	4.19%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.13%

Currency	Danish Krone (DKK)
VISA Debit Card	3.01%
VISA Credit Card	4.01%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.02%

Currency	Hungarian Forint (HUF)
VISA Debit Card	3.87%
VISA Credit Card	4.88%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.88%

Currency	Icelandic Króna (ISK)
VISA Debit Card	3.21%
VISA Credit Card	4.22%
Mastercard Debit Card	N/A
Mastercard Credit Card	3.57%

Currency	Swiss Franc (CHF)
VISA Debit Card	3.65%
VISA Credit Card	4.66%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.65%

Currency	Norwegian Krone (NOK)
VISA Debit Card	3.32%
VISA Credit Card	4.33%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.35%

Currency	Polish Zloty (PLN)
VISA Debit Card	3.23%
VISA Credit Card	4.23%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.11%

Currency	Romanian Lei (RON)
VISA Debit Card	4.01%
VISA Credit Card	5.02%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.98%

Currency	Swedish Krona (SEK)
VISA Debit Card	3.33%
VISA Credit Card	4.34%
Mastercard Debit Card	N/A
Mastercard Credit Card	4.23%

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.

FAQs

No. It is rather opposite. CBPR2 Phase 1 of this regulation has brought cross-border transfers fees harmonisation across European Union including the non- Euro EU countries. Phase 2 and 3 of the CBPR2 has introduced transparency requirements, which will help you to better understand how much you pay when initiating card based transactions and credit transfers through online or mobile banking involving currency conversion and in using your card abroad. CBPR2 Phase 3 introduces a requirement to inform you after the transaction about the estimated currency conversion charges applied to your card transactions, by sending you a relevant electronic message.

Whenever you use your card abroad you will be able to find out how the estimated cost to you of making card transactions within EEA compares to the foreign exchange rate(s) issued by the European Central Bank. This information is available to you here.

Also, when you use your card within EEA for transactions in any EEA currency except the euro, you will receive a notification on the estimated currency conversion charges applied to your transaction expressed as a percentage mark-up over the latest available euro foreign exchange rate issued by the European Central Bank (ECB). You can use these information to compare the charges applied by HSBC and other payment providers.

Yes. CBPR2 provides for the following information to the payer prior to the initiation of credit transfers involving EU currency conversion through above channels:

the estimated charges for currency conversion services applicable to the credit transfer
estimated total amount of the credit transfer in the currency of the payer’s account, including any transaction fee and any currency conversion charges. The estimated amount to be transferred to the payee in the currency used by the payee
Foreign Exchange rates
transaction fee (our charge)

You will be receiving these notifications by SMS, if we have your valid mobile number. You can update your mobile number by logging on to HSBC Online Banking and selecting “Update comms and statement delivery” or by calling HSBC Phone Banking (from a landline at 801 11 72000 and from a mobile or abroad at +30 210 696 2170, Monday to Friday, 09:00 - 16:00).

In case an Additional Credit Card has been issued, you should check whether the Bank has been provided with the mobile phone number of the Additional Cardholder(s) in order for the Additional Cardholder(s) to receive these notifications when they make such transactions.

If you do not want to receive these notifications, you can request so by calling HSBC Phone Banking at the above numbers.

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)