The National Bank of Georgia (NBG) has launched a new online comparison platform that allows consumers to compare payment service fees, currency exchange rates, and deposit interest rates offered by commercial banks and payment service providers.

According to the NBG, the new feature is designed to help customers make more informed financial decisions by providing key information from multiple financial institutions in a single online space.

Previously, customers had to visit the websites of individual banks to compare payment service fees, exchange rates, and deposit offers. The new platform consolidates this information, reducing the time and effort required to evaluate different products.

The platform enables users to: Compare fees for payment account services offered by different commercial banks; Filter products based on selected criteria and compare banking offers; Access up-to-date exchange rates published by commercial banks; Use calculators for payment services, deposits, card transactions, and currency exchange to estimate costs; Compare effective deposit interest rates and identify the most suitable savings option.

Speaking at the presentation of the platform, NBG Governor Natia Turnava said the initiative represents another important step toward improving consumer access to financial information and promoting informed decision-making.

“The new functionality allows consumers to compare the terms offered by different banks in one place and make informed choices. This initiative will improve access to information while strengthening transparency and healthy competition in the banking sector,” Turnava said.

The presentation was attended by representatives of commercial banks, microbanks, microfinance institutions, payment service providers, project partners, and invited guests.

According to the central bank, the platform allows users to compare both individual payment service fees and bundled service packages. It also displays the cost of related services and separately calculates recurring charges, making it easier to assess the total cost of banking services.

Users can search for information using various filters, including the type of service, delivery channel—such as a branch, internet banking, or mobile banking—and the preferred currency. The platform is designed for both individual and corporate customers.

The website also includes several financial calculators. A basic calculator estimates the fee for a specific transaction, while an advanced calculator projects a user’s total annual banking costs based on selected services and usage patterns.

A dedicated card transaction calculator estimates the cost of using a bank card abroad by taking into account foreign exchange conversions, exchange rates, applicable commissions, and the card issuer’s conversion fees, helping users identify the most cost-effective payment card.

The platform also provides real-time comparisons of commercial banks’ exchange rates. Users can enter a desired amount to compare offers from different banks, while the currency conversion calculator estimates the outcome of a transaction and helps identify the most favorable exchange rate.

In addition, the website provides information on the effective interest rates offered on commercial bank deposits, reflecting both the interest earned and all associated mandatory costs. Users can compare deposit products using a range of filters to find the option that best suits their needs.

The National Bank noted that all information displayed on the platform is based on data submitted by commercial banks and may be updated at any time. Consumers are therefore advised to verify current exchange rates and service conditions with their chosen financial institution before completing any transaction.