However with the introduction of a new website, www.compareservices.com.cy, the procedure of comparing prices is now much more simplified.
The main purpose of the site is to provide transparency, competition, simplicity and valid and timely information to the public on a number of services offered in Cyprus. Visitors can now compare different banking charges including interest rates, current account charges, building loans, credit cards and student loans of some of the major banks on the island.
Information can also be obtained in relation to the different landline and internet charges as well as mobile phone pay-as-you-go or contract charges. The site offers all visitors the possibility to compare the prices for most of the private primary and secondary schools in the five major districts as well as the prices for the higher education. Although there is no competition for water and electricity on the island, with monopolist currently operating in this field, the site offers people the chance to study water and electricity bill breakdowns, thus enabling them to have better understanding of the charges and transpency over the prices.
The website “Compare Services” main purpose is to close the transparency gap which exists in the Cyprus market and thus be the prime tool that consumers can use to compare services. The website says that “By using user-friendly tools, free of charge, visitors to the site can compare different products and charges of different services.” “This innovation makes our company a pioneer in a field which we are committed to operate in consistently and continuously to improve the comparison services we offer.”
The site also offers links to the Cyprus Consumers’ Association, the Consumer’s Union, the consumer protection agency and the commission for the protection of competition. There are also links to European competition and consumer websites, and consumer organisations as well as Euractiv and EU Business news portals.