The government will now obligate all second-tier banks in the country to offer setting up an account for all individuals, free of charge.

The draft bill was put together by the Bank of Albania before being sent for public consultation with banks operating in the local market, after which it will be forwarded to the Albanian Parliament.

Sources have told Euronews Albania that the goal is to allow groups like senior citizens, low-income families or people with disabilities to use a bank account without having to pay an extra cost.

At the moment, senior citizens are free to choose whether or not they want to receive their benefits at the bank or physically at one of the postal offices closest to them.

However, after the law gets adopted, they will only have the option of receiving their retirement benefits at the bank.

These categories will be able to open up a bank account in Albanian LEK, be provided with a bank card, and set up an online services account – all of them free of charge.

The law also obligates banks to offer a free basic account for all citizens, or in exchange for a minimal maintenance fee which should be at least 50% less than what is currently offered.

Starting from May 1, the majority of public services will be offered online, thus eliminating physical counters and offices.