Luxembourg financial regulatory body the CSSF will shortly launch a payment accounts fee comparison site, it announced on Thursday.
www.frais-compte-paiement.lu will go live on 1 November 2018 providing users the opportunity to view fees for the most representative services linked to a payment account.
It applies only to payment service providers which are supervised by the CSSF.
Furthermore, the tool can be used to see fees of service providers with at least 25 branches in Luxembourg which hold at least 2.5% of the deposits covered under the law of 18 December 2015 on the failure of credit institutions and certain investment firms.
The CSSF cautions that the fees listed may vary from those offered by service providers as part of a package.