SEPA or why Bulgaria National Bank violate the law?

SEPA – My be the right question is:

We are not sure if BNB is only violating the law of BNB article 2 point 4 and regulation 260/2012  SEPA (Single Euro Payment Area) or

May be BNB and All Bulgarian banks are just well organized criminal group blackmailing all Bulgarian business and citizens to pay over the limit all transactions in SEPA  area?

What is SEPA and why is so important for Bulgarian Business and economy.

1. Bulgarian Banks are overcharging all the transaction in Euro up to 10 000 times. This reflect the possibilities Bulgarian Business to be competitive in the EU and World market.   Example. BISERA7-EUR operated by BORICA is active since 2011 and the SEPA transaction cost 0.04 EUR only.
2. The only bank which offer clear SEPA  (This is ProCredit Bank) but charge it 3 Euro. All Other Banks are charging min 20 and Max 500 Eur and % of the transaction. Usualy they have not mention in TOC any think about SEPA.
3. SEPA Transfer should be made in few hours. All Bulgarian Banks are making transfer to IBAN in a week period (They clame we use SWIFT – this is not true and violate the regulation SEPA). This look like a cartel agreement between the Bulgarian Banks and is directly killing the Bulgarian Business.
4. All Incoming transfer to IBAN should be by SEPA and no charge policy for incoming transfers regarding regulation 260/2012. All Bulgarian Banks are charging incoming transfers from IBAN from 10 to 20 EUR.

Not only the Business is affected – This is important for Bulgarian Citizens too. The Bulgarians who work in EU transfer annually Around 2 billion Euro to the relevant and parents in Bulgaria.

All of them are charged as incoming transfers violating the SEPA regulation and this is with the protection from BNB.

What we made and who we informed:

1. We Informed the EU Commission in March 2007

2. We Informed the The Consumer Protection Commission in February 2007

3. The European Ombudsman in March 2007

4. The Bulgarian Ombudsman in March 2007

5. The Chairman of Economic and Tourism commission of Bulgarian Parliament September 2017

6. The Chairwoman of Financial commission of Bulgarian Parliament September 2017

7. Bulgaria Chamber of commerce and industry September 2017

8. Bulgarian Media BITelevision

We are planing to inform the The Competition Protection Commission and Also all employers organizations.

We are asking for your support regarding this Unfair Business-to-Consumer Commercial Practices. Please, link this page and support us from your web page and send the info to your coleagues and friends.

All transactions in Euro to accounts with IBAN should be charged as written in regulation 260/2012, Article 8.

par. (b) the fees are strictly cost based; and par. (c) the level of the fees does not exceed the actual costs of handling an R-transaction by the most cost-efficient comparable PSP that is a representative party to the arrangement in terms of volume of transactions and nature of services;