The European Commission has published a report evaluating the impact and effectiveness of Regulation (EC) No. 2560/2001 on EU Cross-Border Payments. The report shows that charges for cross-border euro payments have decreased significantly since the Regulation’s introduction, without directly leading to any substantial increase in charges for domestic payments. The Regulation was adopted with the aim of creating a “single payments area” in which citizens and businesses may take full advantage of the single currency. To this end, it ensures that euro payments made by consumers to an account in a different Member State incur the same costs as payments made within their own Member State. The Regulation also covers payment card transactions, withdrawals from cash machines and credit transfers.