Albania on the path to financial integration with Europe: Albanian banks submit applications for SEPA, euro transfers to start in October 2025
On April 10, 2025, the Bank of Albania and the Albanian Association of Banks officially submitted applications to the European Payments Council (EPC), paving the way for Albanian banks to join the SEPA (Single Euro Payments Area) scheme. All 11 banks operating in the country have individually prepared and submitted the necessary documentation to become part of this European payments system.
The first cross-border euro transactions through SEPA are expected to begin in early October 2025 — the earliest possible date allowed by the EPC for Albanian banks.
The decision to include Albania in the SEPA geographical area was made on November 21, 2024, while applications for scheme membership opened in April 2025. Throughout this process, the Bank of Albania and the Albanian Association of Banks played a key role as leaders and facilitators, organizing training sessions and workshops with international experts and providing continuous support to help banks meet the necessary requirements.
Participation in SEPA is expected to bring significant benefits to Albanian citizens and businesses by reducing transfer costs, increasing the speed and security of payments, and strengthening financial ties with European markets.
What does this mean for citizens and businesses?
✅ Cheaper and faster euro transfers
✅ Greater access to European markets
✅ Stronger support for international business development