Forex

AMSTERDAM - The average price for active users of banking services decreased globally by 1 pct to 70 eur in 2007, with price levels ranging from 52 eur in Asia-Pacific to 79 eur in North America, the annual World Retail Banking Report indicated.

But the global stability hides price variations between countries and regions, the report found.

Compiled and released by Capgemini, ING and the European Financial Management and Marketing Association, the report found that prices rose by 5.7 pct in North America due to higher prices for payments and cash utilisation.

Asia-Pacific's prices fell by 11.1 pct in 2007 due to increased competition in Australia and India, particularly in payments and account management.

European prices remained stable with a small 0.8 pct price increase across both euro zone and non-euro zone countries, the report found.

The report added the Single Euro Payments Area (SEPA) is still drawing prices down in the euro zone.

With the advent of SEPA, prices of pan-European payments -- defined as the basket of products that will progressively be governed by SEPA's pan-European standards and regulations -- have decreased faster in Europe's eurozone than in the rest of the world, falling by 6.3 pct to 38 eur from 41, the study found.