Albania recorded around 788,000 euro transfers worth €8.7 billion during its first 11 months in the Single Euro Payments Area (SEPA). The system has significantly reduced cross-border payment costs for individuals and businesses since it began operating in Albania on October 7, 2025.
Bank of Albania data show that individuals initiated around 43% of all incoming and outgoing transfers, while businesses accounted for the rest. Digital banking also played a major role, with online banking and mobile apps handling 69% of outgoing transfers. SEPA cut fees on a €5,000 transfer from 0.76% to 0.08% and on a €20,000 transfer from 0.47% to 0.02%.
Lower fees help Albanian families receive money from relatives abroad and allow businesses to pay European partners at a lower cost. Previous estimates put the potential savings for Albania’s economy at around €70 million. SEPA also encourages digital banking and brings Albania’s payment infrastructure closer to EU standards.
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