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Albania to Eliminate Euro Transfer Costs with SEPA Membership by 2025
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Albania will officially join the Single Euro Payments Area (SEPA) on January 1, 2025, Prime Minister Edi Rama announced via a post on the social network "X." This move will eliminate financial fees for money transfers between Albania and EU countries, benefiting Albanian citizens who send or receive money across borders.
Rama emphasized that this decision marks a significant milestone on Albania’s path to EU membership, which the country aims to achieve by 2030. He highlighted that the move would save Albanians millions of euros in transfer fees, further increasing trust in Albania and aligning it with European standards.
The prime minister described the country's accession to SEPA as a historic achievement, the culmination of years of dedication from the Albanian government, the financial sector, and international partners. He stated that joining SEPA was an "irreversible" step that demonstrated Albania's commitment to integrating with European principles and practices.
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