Banking and Money in Albania

Currency: Albanian lek (ALL)
Supervisor: Bank of Albania
Deposit insurance: Albanian Deposit Insurance Agency
Practical note: Decline ATM dynamic currency conversion where offered

بلغة مبسّطة

Albania's banks are mostly owned by foreign groups. The currency is the lek, but a lot of prices — especially rents and property — are in euros. Cards work in cities; cash is still needed in villages.

شرح مبسّط

The currency

The lek (ALL) is the legal currency. Rents, property, and some tourism services are quoted in euros, and euro deposits are common. Paying cash euros for small everyday purchases usually gets a poor rate; use lek.

Opening an account

Resident accounts normally require a residence permit or registered address plus a passport. Non-resident accounts are possible at some banks with more documentation. Requirements vary by bank and change; ask more than one.

Cards and ATMs

Cards are widely accepted in Tirana and the main coastal towns, less so inland, and rarely for furgons, small guesthouses and markets. ATMs are common; many charge a withdrawal fee and offer their own conversion rate, which is normally worse than your bank's — decline it where you are given the choice.

Deposit protection and supervision

Banks are supervised by the Bank of Albania and deposits are covered by the Albanian Deposit Insurance Agency up to a statutory limit. That limit changes; check the current figure directly with the agency rather than relying on any secondary source.