This platform will provide access to all bank fees and information on the costs of financial services. Under the law, financial institutions will be required to notify the supervisory authority of any changes to fees at least 10 days before they take effect, which will ensure the accuracy of the data on the platform. The comparison tool will use standardized terminology to ensure clarity, treat all service providers equally, and include a procedure for reporting incorrect data.
The draft also guarantees the platform’s accessibility for people with disabilities and provides for the release of data in an open format in accordance with legislation on access to information of public interest. To ensure the visibility of this digital solution, payment service providers will be required to post a prominent link to the comparison page on their websites, and the supervisory authority will conduct information campaigns and financial literacy initiatives to promote this tool among the public.
Other innovations in the bill include simplifying the process of switching banks—which will be handled directly by service providers—as well as introducing a standardized information form so that customers can easily compare fees before signing a contract. Furthermore, the law guarantees the right of all individuals, including members of vulnerable groups, to a payment account with basic services, provided free of charge or at a reasonable price without any discrimination.
The National Commission for the Financial Market notes that the level of financial inclusion in the Republic of Moldova has declined in recent years: from 64.2% in 2021 to 55.5% in 2024, according to data from the Global Findex database. This decline of 8.7 percentage points places our country 22.3 percentage points below the regional average for Europe and Central Asia. In terms of access to banking services, Moldova is outperformed by most countries in the region, with the exception of Albania.
