The Bank of Albania approved new regulations on September 3, 2025 to modernize the national payment systems: AIPS (the interbank system for large-value payments in lek), AIPS-EURO (the domestic euro payment version) and AECH (electronic clearing for payments of voglaAIPS is the Bank of Albania's RTGS system for large-value payments in lek (including interbank and customer payments over 1.5 million LekAIPS-EURO is the domestic system for interbank euro payments within Albania, acquired from January 2022. It offers real-time gross settlement for euro transactions, with immediate final settlement. AECH (Albanian Electronic Clearing House) is a net-clearing system for small-value payments in lek (less than 1.5 million lek) that settles the net position at the end of sessions. daily. So, alongside these: AIPS and AIPS-EURO are RTGS (one for the Lek, the other for the Euro), while AECH is for daily, small-value payments, with batch clearing.bankofalbania.org. The AIPS-EURO system currently has 11 participating banks and operates every business day during business hours. 8:30 AM–4:30 PM, making electronic Euro payments fast and efficient.
What is AIPS-EURO and how does it differ from AIPS and AECH?
AIPS-EURO is a dedicated system for interbank payments in euros within Albania. It operates in the same way as AIPS (the RTGS system for the lek), but only “holds” transactions in euros. Euro. Put simply, instead of sending euros abroad (via correspondent banks), we can now send them directly within the country. This system went live on January 24, 2022, and allows instant payments between Albanian banks that hold euro accounts. AIPS, on the other hand, is RTGS for Lek – it processes large-value payments in Lek in real time and on a non-reversible basis. The AECH system is completely different: it clears (nets) small-value payments in Lek (e.g., customer payment orders under 1.5 million Lek) three times a day. AECH settles the net position in AIPS and is slower than RTGS, but suitable for customers' daily transactions. In summary: AIPS is for large lek payments (RTGS), AIPS-EURO does the same for euros, while AECH is used for small payments with daily clearing.
Concrete changes for businesses (procedures, costs, time, Euro accounts)
With the new regulations, fees and procedures for businesses have changed significantly. Electronic payments now carry much lower fees: for example, payments up to 40,000 Lek are made without any commission, while for amounts up to 10 million Lek the fee has been cut by nearly ten times (it is now only 0.0051 TP3T of the amount, up to a maximum of 500 Lek). For domestic euro payments, the Bank of Albania has significantly reduced fees by following the fee-structuring model Single Euro Payments Area. Specifically, the minimum commissions and percentages have been reduced by about ten times. than before. This means that medium-sized companies with euro-denominated turnover will pay much less for euro money transfers within Albania.
The payment procedure has been improved in real time: with AIPS-EURO, payments between Albanian banks are executed on the same day within business hours. 8:30 AM–4:30 PM. This eliminated the previous waits when euro transfers went through banks abroad and were delayed by hours or days. Now the business simply places an order via online banking or at a branch, and the payment is made immediately. Also, there is no longer an incoming fee on euros received through this system, so the recipient gets the full amount of the money sent.
To benefit from AIPS-EURO, businesses must have a Euro bank account at one of the participating banks (There are currently 11 participating banks.Many Albanian banks now offer Euro accounts; if you don't have one yet, it's time to open one. This way, your domestic Euro payments will be made electronically rather than in cash or via external transfers. It turns out that companies can save money and time, especially when making routine euro transfers. For example, under the new bank fees, a €100,000 euro payment costs a maximum of €50 in commissions, whereas previously, through foreign correspondents, it could cost over €200.
Link to fiscalization
These changes are primarily related to interbank transactions and electronic payments. The fiscalization of sales (such as issuing a fiscal receipt or an electronic invoice) is a requirement of tax law that applies at the level of the sale of goods/services to the consumer. The Bank's new rules do not change the obligation to tax sales or to use fiscal devices – these remain under the authority of the Tax Directorate. In other words, a business still must comply with the fiscalization rules for its transactions as always. In short, there is no “technical link” between AIPS-EURO and fiscalization: the payment system does not participate in the fiscal recording of sales. However, by promoting electronic payments (instead of cash), the new innovations can automatically increase fiscal transparency, since all payments will be official and documented at the bank.
Harmonization with SEPA and international objectives
The new changes also respond to international harmonization objectives. The Bank of Albania has announced that the country aims to join the Single Euro Payments Area (SEPA) soon. As a preliminary step, the new regulations stipulate that as of October 7, 2025, fees for cross-border euro payments will be the same as those for domestic payments. This is based on EU Regulation 2021/1230 (“fee equalization”) and ensures that outgoing SEPA payments will not cost businesses more than a domestic transfer in Euro. In other words, Albania will implement payments according to European standards, lowering cross-border fees to the level of domestic ones. These changes, as a starting point, create the “technical basis” for full integration into SEPA and other modern projects (such as TIPS Clone for fast, real-time payments. Joining SEPA will enable Albanian businesses to send euros immediately and at low cost to partners in the EU, just as European banks handle transactions between their own countries.
The role of these changes in the use of the euro and the reduction of cash.
In the long run, the drastic reduction of fees and the facilitation of electronic payments are expected to influence the use of the euro and reduce cash transactions. The main goal of the Bank of Albania is to increase electronic payments—that is, to encourage businesses and citizens to use less cash. By making payments in lek and euro cheaper and faster, people will have fewer reasons to withdraw cash physically. The Bank estimates that this could bring significant savings to the economy – for example, the economic impact could be €14 million in savings from reduced fees, and the macroeconomic costs of physical cash could fall from 1.71% of GDP to 0.21%. On the other hand, the Bank's anti-de-euroization package focuses on strengthening the lek, but the measures for electronic payments are not directly aimed at euroization; nevertheless, improving the interbank euro infrastructure creates a calmer financial environment for its use. In practice, the new facilities can be seen as a step toward the gradual adoption of the euro in the economy, because businesses will feel more confident working with this currency digitally. Finally, this bolsters the Bank's package – it increases electronic payments and expands financial inclusion for businesses and citizens.
Concrete examples for a mid-sized business with revenue in Euros.
Let's take a simple example. Suppose a mid-sized importing company intends to pay a local supplier in euros in the amount of €100,000. Previously, it would have had to use international correspondent accounts, and the commission could exceed €200 (e.g. 0.21% of the amount). Also, the transaction could be delayed by several hours due to inter-bank processing. Now, with the AIPS-EURO system, she makes the same payment through her local bank and pays a maximum commission of €50. The payment is completed within the same business day (operating hours 8:30–16:00).30) and the recipient receives the full transferred amount without any entry fees. If the company makes smaller payments (e.g., €5,000), the commission is no more than €6.
To optimize the use of the new system, the business can schedule payments at the start of the day or during open AIPS-EURO sessions, so that the funds are settled immediately. Furthermore, online payments are often even cheaper. So, instead of depositing cash at another bank (which used to happen often due to a lack of alternatives), he now does it digitally. For example, if a company issues an invoice for €10,000 at the start of the business day, the payment will arrive immediately in the supplier's account (with a fee of 0.21%, up to a maximum of €6). Another indicator: for 2023 it is estimated that Albanian businesses saved around €22 million solely by reducing fees on euro transfers. These figures show that practical examples underscore how profitable the new procedures will be for a medium-sized business.
How to prepare businesses for these changes
To prepare for these innovations, businesses can follow some practical steps:
Collaboration with the bank
Contact your bank for detailed information. Make sure the bank registers you in the AIPS-EURO system and helps you open a euro account if you don't already have one. Banks are expected to inform you about the new fees, online transfer procedures, and system operating hours.
Audit of financial statements
Review your internal arrangements for how you currently pay and in which currency. Assess whether you are optimally allocating liquidity between the lek and the euro. Typically, it makes sense to keep a sufficient portion in euros in an account to make regular euro payments via AIPS-EURO, rather than holding cash euros or funds abroad.
Coordination with accountants
Collaborate closely with your accountants and auditors. Explain the new changes and ensure that accounting processes are updated (e.g., recording electronic bank fees). Accountants need to know the new fees in order to report them accurately in the ledger and budget. They should also be informed that there will be more electronic payments, which helps with fiscal planning and liquidity.
Update of work procedures
Train the finance staff. Ensure they know how to use the bank's online platform for online payments and take advantage of the lowest available fees. For example, provide guidance on which type of transfer carries the lowest fee (electronic vs. in-branch).
By collaborating with banks and accountants, businesses will transition more smoothly to the new system. These preparatory steps do not require legal changes but do require ensuring mutual understanding and operational adjustments.
Practical recommendations and long-term benefits
In the long term, changes to the payment system bring significant benefits to businesses and the economy:
Cost savings
With drastically lower commissions, the money previously paid for transfers will stay in business pockets. The Bank of Albania estimates that these measures will save around 40 million euros per year for the economy. This is a substantial amount of additional capital that can be used for business investments.
Speed and efficiency
Same-day payments will facilitate cash and liability management. With faster tools, business productivity improves. In short, reducing waiting time means less liquidity shortfall on the balance sheet.
Greater competition among banks
Lower fees will force banks to offer more innovative services. This competition provides better choices for businesses in the future, such as direct integrations of the payment system into their software.
Greater financial transparency
Less cash means more bank records and greater transparency. This can reduce informality and help increase business credibility (because transactions are recorded and verified electronically). According to the BSH, the macroeconomic cost of using physical cash could be reduced from 1.71% to 0.21% of GDP, demonstrating the economic impact of expanding electronic payments.
Greater integration with foreign markets
By operating according to EU standards (including SEPA), Albanian businesses become more competitive in international markets. Euro payments to EU countries will be virtually the same as domestic payments, which could boost exports and foreign investment.
Broad economic benefits
In the long term, a modern payment infrastructure supports economic growth. Fewer disruptions in the payment pipeline will build greater trust among partners and consumers. Additionally, lowering the cost of electronic payments encourages businesses to invest in technology and digitization, which benefits businesses at many levels.
In summary, these changes are not merely technical banking matters: they breathe new life into the Albanian economy by reducing payment costs, encouraging the use of digital channels, and increasing international integration. For medium-sized businesses, this means more money to invest and less on fees, faster payments, and a more competitive financial environment.
Download:
Sources: Bank of Albania.