Albanians made 250 thousand national transfers in Euros in the first eight months of the year

2025-09-24 07:24:09, Ekonomi CNA

Albanians made 250 thousand national transfers in Euros in the first eight

Domestic bank transfers in Euros are growing rapidly again this year.

According to data from the Bank of Albania, for the first eight months of this year, a total of approximately 250 thousand national transfers in Euros were made through the AIPS Euro payment system.

Compared to the same period a year ago, national transfers in euros increased by 21%.

The growth is at similar levels in the value of transactions. For the first 8 months of 2025, the total value of transactions reached 3.94 billion euros, an increase of 19% compared to the same period in 2024.

The transfer data processed in the AIPS Euro system are an indicator of the high level of use of the Euro in domestic economic transactions and show the high degree of euroization of the Albanian economy.

The increase in transactions in Euro is also an indicator of the increase in the amount of currency circulating in the Albanian banking sector. According to data from the Bank of Albania, at the end of July, bank deposits in the European currency reached the value of 8.26 billion euros and touched a new historical record. Deposits in Euro are increasing by approximately 8.3% compared to the same period a year ago.

The increase in the number of transactions in Euro is also an indicator of a greater use of banking channels for making payments and transfers in general. In particular, the establishment of a national system for transfers in Euro has had a positive impact, as it has significantly reduced the costs of these transfers.

Before the establishment of the AIPS Euro system, in 2022, national transfers in Euro could only be made through the use of accounts that Albanian banks have in correspondent banks abroad.

This route created delays and, above all, much higher costs compared to transfers in lek. In the past, high commissions made banking sector clients often move funds from one bank to another through cash withdrawals and deposits at the cash desk.

This month, the Bank of Albania approved several changes to the regulation "On the functioning of the AIPS EURO system for the settlement of domestic transfers to clients in Euro", which foresee a reduction in the level of commissions that financial sector clients will pay for making transfers in Euro.

As with transfers in Lek, the regulation for transfers in Euro will also stimulate the use of electronic channels for making transfers, by providing for halved commissions for operations carried out through these channels.

The minimum commission that banks can apply for national transfers in European currency, carried out through e-banking, cannot be higher than 2 euros.

While the total commissions for each transfer worth up to 150 thousand euros, carried out through e-banking, cannot be higher than 0.01% of the transferred value.

Meanwhile, the total commissions for each transfer worth up to 150 thousand euros, carried out in a branch (in paper form) cannot be higher than 0.02% of the transferred value.

Under the previous regulation, the maximum commission was 10 times higher, at 0.2%.

Also, this maximum commission was mandatory only for lower value transfers, up to 10 thousand euros; for payments greater than 10 thousand euros, there was no ceiling for the percentage commission, but only a maximum commission in value, regardless of the amount transferred.

Meanwhile, the maximum commissions that banks can apply, regardless of the transfer amount, are proposed to be the same as in the current regulation, namely 50 euros for transfers made at branches and 25 euros for those initiated through electronic channels.

On October 7, Albanian banks will begin offering transfers in SEPA systems, finally making our country's membership in this area effective, approximately a year ago. This will bring a drastic reduction in commissions and shorten the time for making transfers in Euros abroad.

As part of the payments regulatory package, the Bank of Albania has reflected the SEPA principle that the costs of SEPA transfers cannot be higher than those of national transfers.

The only change will be that banks will be allowed to apply a maximum commission of 3 euros for incoming transfers per transaction./ Monitor.a l