In SEPA from October 7, Governor Sejko: Cheaper remittances in euros anywhere in Europe
Our country officially and effectively becomes part of the European payment system, SEPA, on October 7. All commercial banks are part of this cross-border payment system in euros.
With a message on social networks, the Governor of the Bank of Albania, Gent Sejko, has preceded this important step by declaring that from this new mechanism, Albanian citizens and businesses will significantly benefit from the reduction in the costs of money transfers in euros.
"With SEPA, money transfers are fast, secure and cheaper. They can be made from anywhere in Europe and at any time. With SEPA there will be no more delays, complicated processes or high fees for cross-border Euro transfers," says Sejko.
Through SEPA, cross-border transactions within the area are charged the same as domestic ones, eliminating additional fees and reducing the processing time of euro payments.
To make payments via SEPA, two main conditions must be met: The sender and recipient of the transfer must be from SEPA member countries and the transaction must be carried out in the euro currency.
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