The Bank of Albania and the Albanian Association of Banks officially submitted today the application package to the European Payments Council (EPC) for the membership of Albanian banks in the SEPA Credit Transfer scheme (Single Euro Payments Area). This step marks a significant milestone in the integration of Albania’s financial system with European payment infrastructure.
According to the official statement from the Bank of Albania, all 11 banks operating within the country’s banking system prepared and submitted their individual applications in a relatively short time frame. The goal is to enable the first cross-border SEPA transactions to be processed at the beginning of October 2025.
This date marks the earliest possible moment—set by the EPC—when service providers in Albania can begin executing cross-border Euro transactions through SEPA.
The decision to include Albania in the SEPA geographical area was made by the EPC on November 21, 2024. However, financial institutions were only permitted to begin applying for participation in the SEPA payment schemes starting in April 2025.
During this preparatory phase, the Bank of Albania, in close cooperation with the Albanian Association of Banks, has actively supported banks throughout the application process, acting as the National Adherence Support Organization (NASO).
To assist the banks, the Bank of Albania organized several workshops with experts from the World Bank to clarify the application requirements and criteria, and to provide guidance on completing the necessary documentation.
At the same time, the central bank maintained regular contact with both the EPC and the domestic banking community to address any identified shortcomings and encourage all banks to join the SEPA schemes.
Participation in SEPA is expected to bring significant benefits to Albanian consumers and businesses by lowering transaction costs and facilitating broader economic activity.
The Bank of Albania has reaffirmed its commitment to continue supporting banks in finalizing the necessary technical adjustments to ensure that Albanians can soon benefit from faster, cheaper, and more efficient cross-border transactions.