BANKING FEES COMPARATOR
This banking fees comparator (click on Individuals or Professionals to access it) is divided into two sections:
Free and updated quarterly, this comparator of bank rates covers all the banks listed on Cameroonian territory. Bank charges are levied by a bank in exchange for services rendered or account incidents, such as payments by unfunded checks or unauthorized bank overdrafts. The payment of the aforementioned costs is linked to the signing of an account agreement and / or a written notification in the event of a rate change.
Whether you are :
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Individuals;
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manager of a small company;
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entrepreneur or treasurer of an association;
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a company,
choosing a bank is often difficult.
This comparator allows you to compare several bank charges and display up to six different entries at a time.
The prices displayed are taken from the price brochures available on the banks' websites downloadable in PDF format, or, for some banking establishments, collected from their branches.
These are: SA / SARL / SAS / ETS / Liberal Professions / Associations / EMF / Bureau de Change.
These are: SA / SARL / SAS / ETS / Liberal Professions / Associations / EMF / Bureau de Change.
The main challenges of this bank comparator are detailed below:
1. Consumer protection
Consumer protection, as a policy in its own right, is a recent development, but one which is gaining more and more importance in the eyes of the authorities of the sub-region, who see it as an issue of confidence.
One of the main reasons for the implementation of our comparison tool is the desire to remedy the information imbalance between consumers and credit institutions.
2. Financial inclusion
According to the World Bank, financial inclusion would be the possibility for individuals and companies to access at low cost a whole range of useful financial products and services adapted to their needs (transactions, payments, savings, credit and insurance ) offered by reliable and responsible providers.
A study by Finscope on the demand for financial services in Cameroon in 2017 estimates that financial education and consumer education are real problems in Cameroon. For this purpose, 51% of adults indicate that they need training in financial education and 45% seek no financial advice and are trapped in the lack of financial information.
Our banking comparator aims to inform consumers in order to provide a solution to questions related to consumer empowerment, financial knowledge and encourage good financial practices.
3. Standardization and comparability
The standardized and easily comparable pricing conditions of credit institutions would promote fairness of contracts and would make it easier for consumers to compare prices and offers. These transparency rules must specify the formulations and formats for each product.
However, from one bank to another, the display mode and the content of the tariff publications vary greatly and do not allow most consumers to filter important information.
Our banking comparator aims to rebalance the bargaining power between consumers and credit institutions in order to strengthen competition on the local market.