Skopje, 1 October 2023
Greater transparency and comparability of services for greater competition and protection of consumers
For the first time in the history of our country, citizens can compare, in a quick and simple way, the fees for payment services with banks through the web site of the National Bank of the Republic of North Macedonia, by using the tool Comparison of fees between payment services providers.
The increased transparency and comparability of services are the most significant benefits and novelties provided for citizens by the Law on Payment Services and Payment Systems. The obligation for application of standardized terms and scope for the most representative, i.e. most frequently used payment services by banks and their regular submission to the National Bank for publication, will allow citizens to compare in a quick and simple way the offers and fees for the services related to payment accounts.
In this regard, we emphasize that the National Bank, on its web site, published data by individual bank for the type and amount of the fees they calculate and charge for each of the services specified as the most representative for consumers.
Payment service providers independently determine the fees and are responsible for the accuracy of submitted data for publication by the National Bank. In order for payment services users to have up-to-date and relevant information, banks are required to update it in case of any change in the fees.
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