#bank fees

A free bank account for pensioners and fees in plain sight: the law affecting 19,709 Ungheni pensioners clears its first vote

Parliament has passed in first reading an NCFM law that will force banks to display their fees in a standardized document, create a public fee-comparison website and guarantee everyone the right to a “payment account with basic features” — free of charge for the financially vulnerable, chiefly pensioners. In the Ungheni district, home to 19,709 pensioners, where nearly two thirds of people live in villages and one in four is over 60, the stake is financial inclusion: only 55.5% of adults in Moldova still have a bank account, down from 64.2% in 2021. Note: this is only the first reading, and the provisions take effect only 12–24 months after publication.