Each country located in E U has its own central bank. The EU has also its own central bank : The ECB ( European Central Bank). It's one of the world's most important central banks. It was established in 1998 with its headquarter in Frankfurt ( Germany). This bank is responsible for monetary policy.

This bank has the exclusive right to set interest right and its primary objective is to maintain price stability...in other words to keep inflation low! The target is to keep the rate under 2%.

To make a transfers in EU, communicate to your bank IBAN or BIC code, written on your branch and account number. Transfers are free over a certain amount. France fixed this one at 7600 euros. If you exceed this limit, customs have to be informed. Why? to prohibit and actively prevent money laundering !

Since the 1st of January 2008, the money transfer system is simplificated thanks to SEPA (Single Euro Payments Area). It's one more step to the european payment zone.

Each country located in E U has its own central bank. The EU has also its own central bank : The ECB ( European Central Bank). It's one of the world's most important central banks. It was established in 1998 with its headquarter in Frankfurt ( Germany). This bank is responsible for monetary policy. 

There is no european instruction that plan it. It depends on the country's legislation ! The remuneration rate, usually used in EU, fluctuates between 0.1% and 0.5% a year. In compensation, in many state members, cheques are not free