In the single market, payments from one country to another, and from one currency to another, should be as swift as they are within a Member State and should not cost any more. This is not yet the case. The Commission has therefore sought the cooperation of the banks. It preferred this pragmatic method to a regulation or a directive. In spring 1992 the Commission proposed an EC user's charter which reads as follows: "For all cross-border payments within the European Community the user should have the right to the best possible service. Specifically: 1. The bank must inform the user of the most appropriate payment services available. 2. The user must be given full information in advance regarding the total cost of a payment. 3. The user must have the option of paying all charges so that the beneficiary receives the full sum sent. 4. Cross-border payments should be acclerated. The objective is to achieve the same time delay and reliability as for domestic payments by Stage III of EMU. 5. The user should have access to a redress procedure at least equivalent to that existing for domestic payments."