SEPA: Albanian banks submit applications, cross-border transfers start in October!

The Bank of Albania and the Albanian Banking Association sent today, April 10, 2025, to the European Payments Council (EPC), the package of applications for banks' membership in the SEPA credit transfer scheme.

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.

This is the earliest time, set by the EPC, when service providers in Albania can start carrying out these cross-border transactions in Euro through SEPA.

The decision to include Albania in the SEPA geographical area was taken by the EPC on November 21, 2024, while financial institutions could only start applying for accession to the SEPA payment schemes from April 2025.

During this period, the Bank of Albania, in cooperation with the Albanian Banking Association, has intensively guided banks in the application process, acting as the National Support Center for the Accession Process.

In this context, the Bank of Albania organized several workshops with World Bank experts to clarify the requirements and criteria for each institution's application, as well as to instruct them on completing the documentation.

At the same time, it has maintained continuous contact with the EPC and the banking community to fill any identified gaps and to encourage all banks to be part of the SEPA schemes.

Participation in SEPA schemes will bring significant benefits to Albanian consumers and businesses, through reducing the cost of transfers and expanding economic activity.

The Bank of Albania will continue to support banks in finalizing technical adjustments, to be able to offer cheaper cross-border transactions to Albanians at the earliest possible moment.

Happening now...

00:03 crossword

Free scheme December 19

22:35 KOSOVA

Kosovo, police operation against corruption, Svecla: Several senior public officials have been arrested, including a former minister

22:34 POLITICS

Rama tells his version of the "May 17" meeting with Basha: He got everything he asked for with Berisha's blessing

22:14 POLITICS

Redi Muçi: We will not join forces with the Democratic Party, Lapaj and Shehaj

22:13 POLITICS

Rama on Berisha: He embodies negative radiation, the ultra-fanatic communist turned into...

21:59 POLITICS

Rama speaks to "The Observer": Albania can help the EU survive, if it sits us at the table

21:55 POLITICS

Nikoll Lesi's strong statement: The opposition is preparing a violent protest on Monday

21:53 POLITICS

Rama "returns" 35 years later: I had no desire to get involved in politics

21:45 POLITICS

Klodiana Lala shpjegon pse SPAK e do patjetër Ballukun të arrestuar

21:30 BOTA

"The reaction will be devastating", Rutte: Ukraine will be the first line of defense

Nga Blendi Kajsiu 21:24 ideas

"Preliminary sentence for Belinda Balluku", response to Baton Haxhiu

Nga Blendi Kajsiu

21:19 POLITICS

Petro Koçi: Rama's criticism of SPAK could have been avoided!

21:14 POLITICS

"There is talk that Belinda Balluku has fled", Belind Këlliçi: From the information we have, it appears that the Deputy Prime Minister is not within the country

21:13 POLITICS

Belinda Balluku's positions in relation to justice are becoming more serious! In addition to tenders, under investigation for a concession. SPAK: Risks destroying evidence

Want to read more news