Banking & Finance
What Law 100/2023 establishes
Law 100/2023 sets the rules for a payment account with basic features for consumers and residents in Albania. Its resident definition includes foreigners with temporary or permanent residence in Albania. All banks operating in Albania must offer the account, whatever the person's income, employment status or credit history. The law does not apply to accounts held by a legal entity, including small and micro enterprises and commercial natural persons.
Bank of Albania — Law No 100/2023 on payment account with basic features
Opening the account: deadline and refusal grounds
The bank must open the account or refuse the application within 15 business days of receiving a complete application. The law lists the cases where a bank does not open the account. One is where opening would breach the rules on preventing money laundering and terrorism financing. Another is where the consumer already holds a payment account with another bank in Albania that gives the same services, unless the consumer declares that he has been told the other account is closed. A false statement about holding another account bars the consumer from the basic account for 24 months. A bank cannot make the opening depend on buying other products or services. On a refusal under these grounds the bank must normally give the specific reason in writing (the law makes an exception where that would conflict with national security or anti-money-laundering rules), and the consumer may appeal to the Bank of Albania within 30 days.
Bank of Albania — Law No 100/2023 on payment account with basic features
What the basic account covers
A basic account must be in lek only. The law lists these services: opening, operating and closing the account, placing funds in it, cash withdrawals in Albania, and payments within Albania by direct debit, debit card and credit transfer. It does not list international transfers or foreign-currency balances as basic services. Banks must offer the services free of charge or for a reasonable fee. The law leaves the method for calculating a reasonable fee to Bank of Albania sub-legal acts, which this page does not cover.
Bank of Albania — Law No 100/2023 on payment account with basic features
Where the law stops
The law text does not say whether the first application can be made online. It says banks must let the consumer manage and initiate payments online where online facilities are available, which is different from opening an account remotely. This page does not cover business accounts, products for people without residence, or any named bank's own conditions, documents or tariff. Ask the bank for the written conditions of the basic account before you apply.
Bank of Albania — Law No 100/2023 on payment account with basic features
Questions to ask the bank
The law requires banks to publish information on the basic account and how to apply for it, in their offices and on their websites. Ask the bank for that information, and ask it to confirm in writing whether your residence category is accepted and which documents it needs. Ask for the current tariff for the account and any card. If the bank refuses, ask for the reason in writing and note the 30-day appeal period.
Bank of Albania — Law No 100/2023 on payment account with basic features
Questions before acting
Does the law give residents a right to a basic account?
Yes, with limits. The law says all banks in Albania must offer the basic payment account to residents, whatever their income, employment status or credit history. It lists the grounds on which a bank does not open it, and the bank must open or refuse within 15 business days of a complete application. A refused applicant may appeal to the Bank of Albania within 30 days. Whether a particular application is accepted is decided by the bank.
Can I use the basic account for foreign currency or international transfers?
The law says a basic account must be in lek only. The services it lists are cash withdrawals and payments within Albania, and it does not list international transfers. If you need foreign currency or international transfers, ask the bank about a different product and its published conditions.
Is online banking the same as remote account opening?
No. The law says banks must let the consumer manage and initiate payments online where online facilities are available. The law text does not say how the first application must be made, so check the bank's published conditions.
Corrections in this revision
The previous version included statements without sufficient direct support. This revision removes or corrects:
- Statements without direct official support: removed, or replaced with the official rule. Removed figures are not repeated on this page.
Review scope: legal and financial statements in this revised article. Recheck on a provider, professional, immigration or tax-rule change; reuse of dated figures requires a new check.
See recorded sources
- Bank of Albania — Law No 100/2023 on payment account with basic features — Albania — national. Law 100/2023 approved 14.12.2023; enters into force 3 months after publication in the Official Journal (Article 23); text read 7 Oct 2026
These primary references have the jurisdiction, product and scope stated above. A source link is not proof of personalised eligibility.
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About the author
António Mira is the founder of whereTOemigrate. For over a decade he has worked at the intersection of Portuguese real estate and overseas business, helping international clients navigate the cross-border decisions that come with relocating. He sits on the board of CCIAP (Portuguese-Arab Chamber of Commerce), the Portuguese-Saudi Business Council, and the Portugal-Hong Kong Business Association — always with one focus: enabling overseas business and human mobility into and out of Portugal.
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