All Albanian banks to offer instant transfers from November

All banks in Albania will process account-to-account payments within seconds from November.

The service will operate 24 hours a day, including weekends and public holidays.

Transfers of up to €200 will cost no more than five cents to send or receive. Larger payments cannot cost more than a standard bank transfer.

The system uses technology from the euro area’s TIPS payment platform. Kosovo and North Macedonia will launch the service at the same time.