363 thousand transfers in euros with SEPA in 6 months - Zaçaj: The initial projections of the sector have been convincingly exceeded. 23-fold reduction in costs
In just six months, 363 thousand incoming and outgoing transfers have been made through the Single Euro Payments System, SEPA. This was stated by the First Deputy Governor of the Bank of Albania, Holta Zaçaj, during the Balkan Payments Forum.
The country launched SEPA transactions on October 7th of last year and so far there has been a 23-fold reduction in the costs of cross-border payments in euros.
“During the first six months of use, Albanian citizens and businesses have sent and received around 363 thousand transfers through SEPA, with a total value of 4.3 billion euros. These figures have convincingly exceeded the initial projections of the banking sector. World Bank data from the beginning of 2026 show that the average costs of cross-border transfers have fallen significantly. Therefore, for small and medium-value transfers, average costs have fallen from 0.76% to just 0.08%, while for large transfers, they have fallen to just 0.02% (a 23-fold reduction),” she said.
According to her, these figures have a particularly strong impact on remittances, which are a major source of income for many Albanian families, as low fees translate into more cash for them. SEPA also supports trade and attracts foreign investors, facilitating the climate for doing business with European Union partners. More than half of outgoing SEPA transfers are initiated online.
“A preliminary study suggests that the savings resulting from the activation of SEPA could reach up to 70 million euros, during the first year alone. The simplicity and security of SEPA payments also support the digitalization of payments. The Bank of Albania has taken advantage of this, by applying differentiated ceilings for SEPA transfers, in favor of payments initiated digitally. In fact, about 68% of outgoing transfers are initiated online”, stated the Deputy Governor.
Zaçaj also focused on the reforms undertaken by the Bank of Albania to modernize payment systems and promote the use of electronic payments, emphasizing that Albania's membership in SEPA constitutes a historic achievement for the country's financial integration.
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