Skopje, 18 December 2023

The new regulation in the area of payment services introduces certain limits for fees charged by banks, for the purpose of consumers’ protection.  For a monthly fee of 34 denars, or 0.1% of the average net wage paid in the country in the last 12 months, the citizens who open a payment account with basic features can use number of payment services, points out the Governor of the National Bank, Anita Angelovska Bezhoska, in an interview for “Sloboden Pecat”, and adds that this account, together with the services it offers, are free for some of the socially vulnerable categories.

The Governor also points out that the new Law on Payment Services and Payment Systems, in addition to regulatory fee limits, contributes to the reduction of citizens’ costs for payment services by opening the market for new payment service providers, other than banks.  “We are moving towards competitive pressure for a general reduction of fees charged for payment services” pointed out the Governor and added that a tool is already available on the National Bank website which allows the citizens to compare the fees for 11 commonly used payment services, so they can know exactly which bank offers the lowest price. 

The Governor points out that at the moment, in cooperation with other financial regulators, a new regulation for financial ombudsman is being prepared, i.e. a special institution which would be directly in charge of dealing with citizens’ complaints, regardless of which financial segment they come from.  “This project is still in progress, which clearly shows that the citizens and their interest are the most important in the central bank’s operations” said the Governor.