The Bank of Albania, together with the Albanian Association of Banks, submitted to the European Payments Council the application package for Albanian banks to adhere to the SEPA Credit Transfer scheme. All 11 banks in Albania prepared individual applications, aiming to execute the first cross-border euro transactions via the Single Euro Payments Area (SEPA) at the beginning of October 2025, which the release describes as the earliest deadline set by the European Payments Council for Albanian payment service providers. The European Payments Council approved Albania’s inclusion in the geographical scope of SEPA payment schemes on 21 November 2024, with financial institutions able to apply for scheme adherence starting from April 2025. During the application period, the Bank of Albania acted as the National Support Centre, running workshops with World Bank experts on requirements and criteria, maintaining contacts with the European Payments Council and the banking community, and addressing identified gaps to support banks’ applications. The Bank of Albania stated it will continue supporting banks in finalising technical adjustments so they can begin offering cheaper cross-border transactions as early as possible, with the target start for SEPA processing set for early October 2025.
Bank of Albania 2025-04-10
Bank of Albania submits applications for all 11 banks to join the SEPA Credit Transfer scheme targeting euro cross-border payments from October 2025
The Bank of Albania and the Albanian Association of Banks have applied to the European Payments Council for Albanian banks to join the SEPA Credit Transfer scheme, targeting cross-border euro transactions by October 2025. The European Payments Council approved Albania's inclusion in SEPA schemes in November 2024, with applications starting in April 2025. The Bank of Albania is facilitating this process by addressing gaps and supporting technical adjustments for cheaper cross-border transactions.