Cash payday loans are soon to become a thing of the past. The Finance Ministry is preparing legal changes under which finance companies will no longer pay out money in cash - every loan will go exclusively to a transaction account at a bank. The aim is simple: to make the money leave a trace.

According to Finance Minister Gordana Dimitrieska-Kočoska, the reform stems from inspections that uncovered "weaknesses and inconsistencies" in the existing regulation. Some companies operated irregularly, and in some cases their licences were even revoked. In 2025 alone, the Ministry issued 26 administrative and 4 misdemeanour orders, one company lost its licence, and citizens also complained of intimidation during collection.

Behind the dry phrase about "transaction accounts" sits a real problem that many will recognise. The audits uncovered deceptive advertising - companies that advertised zero percent interest, then charged hidden costs through "services", often via multiple websites with no clear sign of who stood behind them. When a loan is taken in cash and over a few clicks, it's easy not to see where your money ends up - and how much you're actually paying back.

The new rules also require internal control bodies in every company - internal audit boards, credit-risk boards, supervisory organs - as well as prior approval from the Ministry for every new location. On paper, that is a step towards order. The question, as always, is whether the control will be real or just one more signature on a form. For the citizen who took a payday loan to get through the month, the difference between "regulated" and "protected" is measured in how much they repay in the end.