Bank of Albania launches Albania’s first SEPA euro transaction with 11 banks ready to offer SEPA services

The Bank of Albania published Governor Gent Sejko’s address marking the first euro transaction in Albania processed under the Single Euro Payments Area (SEPA), following Albania’s SEPA accession finalised in November last year. The governor said 11 commercial banks operating in Albania are ready to provide SEPA services to citizens and businesses. The speech links the rollout to legislative and regulatory alignment with the European Union, documentation and engagement with EU institutions, modernisation of national payments infrastructure to European standards, and a gradual reduction in domestic payment fees, supported by coordination with commercial banks and partners including the World Bank. Reported user impacts include outbound transfers to SEPA member countries costing up to five times less than before, faster electronic payments, and pricing parity where a payment from Tirana to Rome costs no more than a payment within Tirana, alongside reduced fees on incoming payments; the Bank of Albania also cited an estimated EUR 20 million in first-year savings from SEPA adoption and noted that its AIPS EURO system (operational since January 2022) has saved the domestic market around EUR 140 million. Sejko framed the next stage as “full utilisation” of SEPA by banks and businesses, user education, and further payment digitalisation, calling on banks and financial institutions to promote SEPA services, inform clients about benefits, and continue investing in digital platforms.