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Application packages for Albanian banks' membership in the SEPA credit transfer scheme, which eliminates additional fees for any bank transfer within this system, have been officially submitted.
The application was made by the Bank of Albania and the Albanian Banking Association, which have sent the request to the European Payments Council (ECP).
According to the official announcement of the Bank of Albania, all 11 banks of the Albanian banking system individually prepared the relevant applications within a relatively short time, with the aim of the first cross-border SEPA transactions being carried out at the beginning of October 2025.
The Governor of the Bank of Albania, Gent Sejko, has stated that during the first year of membership, economic actors in the country will save around 20 million euros as a result of commissions, which will be significantly lower than the current ones.
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