This is provided for in the draft Law on the Comparability of Fees Related to Payment Accounts, Switching Payment Accounts, and Access to Payment Accounts with Basic Services, passed by Parliament in the second reading. The legislative initiative, developed by the National Financial Market Commission (CNPF), takes into account the European Commission’s recommendations on further harmonizing the regulatory framework with European consumer protection legislation. The new law aims to increase transparency, provide consumers with more effective information, and ensure fair access to basic financial services. According to the document, before concluding a payment account agreement, the provider will be required to provide the consumer with a document containing clear information about applicable fees and charges. The standardized form will comply with the information disclosure requirements established by the European Commission. Customers will also receive free annual information about the fees charged by the payment service provider to help them more easily assess the cost of the services they use. Until now, service providers have published on their websites the general terms and conditions, rates, and fees for services intended for retail customers. To ensure the transparency and accessibility of financial services, the CNPF will create a website with information on the services offered by various payment service providers, including the fees charged. This will allow consumers to compare offers and choose the most advantageous options. The draft law also contains provisions designed to simplify the process of switching payment accounts. To safeguard the rights of all consumers, banks will be required to offer payment accounts with basic services. The document provides for sanctions against service providers that commit violations, and the CNPF will be able to issue written warnings, impose fines, or take enforcement measures depending on the violations identified. The new legislative provisions will take effect 12 months after their publication in Monitorul Oficial (the Official Journal of Moldova), except for the chapter on switching accounts, which will take effect 24 months after publication. Some articles will take effect on the date of Moldova’s accession to the European Union. // 31.07.2026 — InfoMarket