Banks reduce commissions for transfers with AIPS EURO/BoS, changes in regulations. Minimum fee level, 4 euros
After reducing commissions for transfers in lek, the Bank of Albania has decided to also reduce commissions for transfers in euro within the country that are made through the AIPS system.
Specifically, for transfers in the AIPS EURO system, the minimum commission that will be applied by commercial banks is 4 euros. This minimum commission level was previously 6 euros.
Meanwhile, according to the changes in the draft regulation, for any transfer with a value less than or equal to 150 thousand euros, banks should not apply commissions higher than 0.02% of the transferred value.
Regarding transfers that will be made electronically with AIPS EURO, the total commissions applied by banks should in no case exceed 2 euros.
For any electronic transfer with a value less than or equal to 150 thousand euros, banks should not apply commissions higher than 0.01% of the transferred value. So, to further encourage electronic transfers, the Bank of Albania has further reduced commissions for transfers made through e-banking.
A few days ago, the Bank of Albania decided to reduce the commissions for transfers in lek from one bank to another using the AECH system. For payments made through the AECH system with a value of up to 40 thousand lek, no commissions will be applied. For transfers from 40 thousand to 1 million lek, the maximum commission that the bank can apply is 100 lek.
The over-the-counter commission for transfers from 1 million to 5 million lek will be reduced to 500 lek, while in online or mobile banking, the fees will be even lower.
Payments made through the AECH system include salaries for employees who have an account other than that of the employee, rent payments, electricity, water, telephone bills and others that involve transferring money from one bank to another. Meanwhile, payments for the purchase of an apartment and others can be made through the AIPS system.
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