EURO1 pricing

The pricing policy for EURO1 consists of recovering all costs in relation to (1) the processing service provided by SWIFT, (2) the costs in relation to T2I settlement; and (3) the operational, administrative and depreciation costs of EBA CLEARING, as business administrator of EURO1, in relation to the service management and development of the EURO1 System.

The pricing objectives of EURO1 include in particular the objective to minimise costs of the users in relation to the processing of single payments.

The Fee Schedule for EURO1 is available to all participants on the customer portal and is made available to prospective participants upon qualified request.

A one-off fee of EUR 30,000 is payable upon connection to the system, and participant joining fees can apply.

Fixed fees are in part shared equally among the EURO1 Participants.

Each quarter, participants shall pay a fixed transaction fee. The amount of such quarterly fixed transaction fee shall apply for the transaction volume sent during a quarter, regardless of and without a limitation on the actual transaction volume.

The quarterly fixed transaction fee shall be calculated as follows: the per-volume tier transaction fees set forth in the table below shall be applied on an incremental basis to the sum of (i) the number of transactions during the last quarter of the second preceding calendar year and (ii) the number of transactions during the three quarters of the preceding calendar year; this annual total shall be divided in four quarters.

See table below for details:

Daily average volume tier – Based on the daily average number of payments.

Pricing for the use of the SWIFT network for sending payment messages is a matter of the bilateral contract of each user with the network provider.

In addition to the above-mentioned fees, each participant contributes in equal shares to a liquidity pool by maintaining a deposit denominated in EUR with the European Central Bank (ECB). The deposits maintained with the ECB bear interest at the ECB’s deposit facility rate. The maintenance of a liquidity pool is mandatory for compliance with the requirements on coverage of liquidity (and credit) risk as per the oversight requirements for systemically important payment systems.   

Charges apply for administration of banks’ participation in the service.

 Upon exiting the system, an exit fee is payable. The amount of the exit fee is calculated in accordance with a formula to cover a share of the fixed service fees that would otherwise be borne by a participant for a specific period after the exit date.