United Bank of Albania joins the SEPA system

05/11/2025 By: admin

United Bank of Albania is pleased to announce that, starting from October 7, 2025, it has officially become part of the SEPA (Single Euro Payments Area) system for transfers in Euro, providing greater ease and efficiency to cross-border payments.

What is SEPA?

SEPA, or the Single Euro Payments Area, is a European Union initiative that aims to simplify payments in Euro across all member countries. It allows for faster, safer and more efficient cashless transactions within the SEPA area, making cross-border transfers in Euro equivalent to domestic payments. This integration helps unify fragmented national markets for Euro payments into a single system, increasing the ease of doing business across Europe.

SEPA benefits:

• faster cross-border payments;
• transparent pricing;
• lower fees compared to SWIFT;
• competition among payment service providers will help reduce account costs;