Albania, Moldova, Montenegro, and North Macedonia have officially joined the Single Euro Payments Area (SEPA), enabling faster and cheaper financial transactions across the European Union.
The European Commission announced on Thursday that the four aspiring EU member states have been formally integrated into Europe’s financial transaction ecosystem, following the acceptance of 40 banks from these countries into the SEPA scheme.
By joining SEPA — short for the Single Euro Payments Area — the countries, along with the EU, will gain access to more efficient and low-cost euro transfers, potentially saving up to €500 million for individuals and businesses, the EU executive stated.
The European Payments Council made the decision after the four countries were brought under SEPA’s geographical scope between November 2024 and March of this year, according to the Commission’s statement.
During her speech at the EU–Western Balkans Investment Forum in Tirana on Monday, European Commission President Ursula von der Leyen praised Albania’s accession to SEPA as a concrete step toward financial integration with the EU.
“As of last week, companies in Albania can send and receive money within the EU at very low costs,” von der Leyen said.
