Portugal’s Competition Authority (AdC) has recommended the central bank, Banco de Portugal (BdP), establish a tool to compare deposit account interest rates offered by different banks. This initiative aims to encourage customers to switch between financial institutions, fostering greater competition within the banking sector. Currently, a lack of transparent rate comparisons makes it difficult for consumers to find the best deals. The AdC believes a dedicated comparator would empower customers to make informed decisions about where to deposit their savings. Increased customer mobility is expected to put pressure on banks to offer more competitive rates. This move aligns with efforts to enhance financial transparency and benefit consumers across Portugal. The BdP will now consider the AdC’s recommendation for implementation.