Payment Account with Basic Services

Law No. 100/2023 “Payment Account with Basic Services” ensures the right to have at least one payment account with basic services for each person, as an important means to receive basic banking services. The payment account with basic services is offered to consumers and individuals legally resident in the Republic of Albania. Any individual can open a basic payment account by presenting a valid identification document (ID or passport) at any UBA Bank branches. The Payment Account is only available in “LEK” currency.

Services included in the Payment Account

  • Services that enable the opening, operation and closing of the account;
  • Deposit of funds;
  • Withdrawal of funds at counters and ATMs within the Republic of Albania;
  • Direct debits;
  • Payment transactions through a bank card, including online payments;
  • Credit transfers, including periodic payments, at terminals and bank counters and online platforms.

Procedures for opening a payment account with basic services

  • The customer submits the request/applies for opening the account;
  • He/She declares not having a payment account with basic services in other banks.
  • Gives consent for the verification of the given statement;
  • UBA Bank performs the opening of the payment account with basic services within 10 working days after receiving the complete application.
  • In case of rejection, the consumer is notified within 15 days from the application.

The bank reserves the right to close the customer’s account, in case:

  • The customer has used the payment account for illegal purposes;
  • There has been no transaction in the payment account for more than 24 consecutive months;
  • The customer has submitted incorrect information to open a payment account with basic services
  • The consumer no longer enjoys the status of resident in the Republic of Albania;
  • The customer has opened a second payment account in the Republic of Albania, which allows him to use the basic services offered to him simultaneously under this contract.