The Bank Of Albania Discards Charges On Online Money Transfers

The National Bank of Albania

On the 10th of April, 2020, the Bank of Albania reported that, bank customers in Albania will no more pay any bank commission while transferring cash online within the country.

The Bank’s Supervisory Council rejected commissions on online bank transfers so as to ease payments during this time of coronavirus confinements.

As per the Bank, this new guideline is required to essentially decrease costs for residents and organizations, and furthermore give a solid impulse to the utilization of electronic payments by Albanian residents.

According to the authorities of the information on Banking commission, the normal commission applied by business banks in Albania is around 3.44 U.S. dollars for little value transfers and around 1,200 Albanian lek for huge value transfers.

At the end of 2019, the number of online financial balances in Albania remained at 442,000.

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