Albania is expected to save about 20 million euros per year from membership in the European Payments Area (SEPA). The Bank of Albania has confirmed that Albanian banks and payment institutions will start operations in this system on October 5, 2025.

In a meeting held this month between the Bank of Albania and the Payment System Committee, the steps and deadlines for the implementation of SEPA in the country were presented. Among the main criteria for inclusion in this scheme are: the possession of a license for the provision of payment services, the ability to meet standards against money laundering and terrorist financing, as well as the capacity to implement the technical rules of SEPA.

Albania was officially admitted to the zone on November 21, becoming one of the first countries in the Western Balkans region, along with Montenegro, to join the scheme.

Currently, a payment from Albania to SEPA countries costs up to ten times more than a payment within the area, while completing a transfer takes up to three business days. With SEPA, money will be transferred within 24 hours, at a much lower cost.

On the other hand, membership in SEPA brings numerous benefits to the Albanian economy. In addition to the modernization and higher security of electronic payments, this system is expected to have a positive impact on tourism and foreign direct investment, making financial transactions faster and more reliable.

Another advantage is the reduction of costs for the transfer of remittances, which occupy a significant part in the Gross Domestic Product of our country.

Experts estimate that Albania’s entry into SEPA will significantly improve its financial stability and competitiveness in the region.

SEPA (Single European Payments Area) is an initiative of the European Union that creates an integrated area for electronic payments in euros. In this area, citizens, businesses and institutions can make cross-border bank transfers with the same ease and cost as within a country.