The pricing policy for EURO1 consists in recovering all costs in relation to the processing service provided by SWIFT, the costs in relation to settlement, as well as the operational, administrative and depreciation costs incurred at the level of EBA CLEARING acting as Business Administrator, in relation to the service management and development of EURO1.
The pricing objectives of EURO1 include in particular the objective to minimise costs of the users in relation to the processing of single payments.
EBA CLEARING does not have a discount policy.
Overview of fees
1) Entrance fee
A one-off fee of EUR 30,000 is payable upon connection to the system.
2) Annual fixed fees
The fixed costs are in part shared equally among the EURO1 Participants in accordance with a special distribution key.
3) Transaction fees
The remainder of the costs of the system are covered by transaction fees. Transaction fees are calculated based on the number of payment messages sent in accordance with the incremental scale below which aims to provide an incentive for the participants to use the system:
Option 1: Variable transaction fees (default option)
Daily average volume tier – Based on the daily average number of payments
|from 1 to 800||0.32|
|from 801 to 1,750||0.23|
|from 1,751 to 4,000||0.16|
|from 4,001 to 7,00||0.08|
Option 2: Annual fixed transaction fee option
Participants may opt for an annual fixed transaction fee. The amount of the annual fixed transaction fee shall apply for the transaction volume sent during a calendar year, regardless of and without a limitation on the actual volumes of transactions.
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 total amount of the liquidity pool is set at a maximum of EUR 1 bn. 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.
Modest 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.