Free transfers between own cards, Open Banking, and bank-locked customers – round table at the CB
In Uzbekistan, Open Banking is being tested with 6 banks, and a pilot project will be launched at the end of the year. Meanwhile, account-to-account transfers are said to be working in 23 bank applications. During a round table at the Central Bank, issues such as the possibility of fee-free money transfers between one's own cards, restrictions on using international cards in various applications, and access to payment services were also raised.
Free transfers between one's own cards, Open Banking, and bank-locked customers – Roundtable at the Central Bank
On October 15, a roundtable discussion titled "Commissions in Financial Services: Costs, Competition, and Consumer Interests" was held at the Central Bank. It was attended by representatives of commercial banks, payment systems, payment organizations, and the media.
Along with discussions on commissions, information was also provided regarding reducing customer lock-in to a single bank, developing alternative money transfer methods, and the launch dates for new services.
### When will free transfers between one's own cards work?
Economist Otabek Bakirov recalled that the task had been set to ensure commission-free money transfers between individuals' own bank cards. He emphasized that such an opportunity would also affect competition among banks.
“This is a task set by the head of state on May 5, 2026. I will read it out: a clear and precise task has been set to carry out money transfers between individuals' own bank cards without commission within the framework of the instant payment system. Why do I consider zeroing out transfers between one's own cards important? This will increase competition between banks and payment organizations,” Bakirov said.
In his opinion, if a customer can move their funds between banks without additional costs, it will become easier to attract resources to banks that offer reliable and favorable terms. Other participants will also be forced to improve service terms to retain the customer.
According to the answer provided by the Central Bank, the relevant document has been submitted to the Cabinet of Ministers.
“Regarding your statement that there was an order on Me-to-Me: this was a document that came for use within the framework of the service. It was requested to be submitted to the Cabinet of Ministers within a two-week period. If I am not mistaken, it was submitted to the Cabinet of Ministers within 11 or 12 days,” said the CB representative.
However, no exact date was given at the roundtable as to when this feature would start working for customers.
Bakirov also touched upon the infrastructure of the new service. He stated that he advocates launching transfers between one's own cards using the Central Bank's infrastructure.