Here are the commissions for transfers in lek and euro, Governor Sejko: Costs will be reduced by up to 10 times
The Governor of the Bank of Albania, Gent Sejko, announced in his monthly press conference that commissions for digital transfers in euros and lek will be reduced by up to 10 times. According to him, this is a benefit from digitalization but also from the country's inclusion in European payment systems. In his speech, Sejko stated:
"In addition to joining SEPA, the fast payments system with the Bank of Italy will also be operational in 2026. With this system, which is used in all EU countries, fast payments will be made 24 hours a day, 7 days a week. They will be at minimal cost."
The digitalization of the payment system will bring a significant reduction in the use of cash in the economy. At the same time, there will be maximum convenience for transfers and a significant reduction in their costs.
On October 7th, we will be operationally in SEPA. This means much cheaper transfers in euros.
But at the same time, the latest decision of the Supervisory Council of the Bank of Albania to be synchronous with SEPA has also reduced by 10 times the commissions for digital transfers in lek. Thus, up to 40 thousand lek, digital transfers will be at zero cost, over 40 thousand lek up to 10 million lek have a commission of 0.005 of the value and no more than 500 lek per transfer, over 10 million lek the maximum commission of each transfer will not be more than 750 lek. So there will be no commission for digital transfers over 750 lek.
With the introduction of SEPA, transfers in euros worth up to 100 thousand euros will be 0.001 of the value. For amounts above this, there will be no commission over 25 euros. Do not forget that previously commissions of up to 200 euros were applied. For citizens who receive money from remittances, transfers in euros will not cost more than 3 euros. So we will have much faster, much safer and much cheaper transfers.
At its last meeting, the Supervisory Council of the Bank of Albania decided to keep the key interest rates unchanged.
Cost of digital transfers in lek
From 0-40 thousand lek – zero commission
From 40 thousand - 10 million lek - commission no more than 500 lek
Over 10 million lek – commission no more than 750 lek
Cost of digital transfers in euros
Up to 100 thousand – 0.001 percent of the value, not more than 3 euros
Over 100 thousand euros – no more than 25 euros
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