Banking and Finance
A euroised, foreign-owned banking sector supervised by the Bank of Albania.
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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.
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.
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.
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 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.
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.
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A euroised, foreign-owned banking sector supervised by the Bank of Albania.
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Among the lowest cost bases in Europe — with Tirana and the summer coast as the two big exceptions.
One of Albania's largest commercial banks, part of Turkey's Çalık Holding.
A currency most visitors never see quoted, in a country where a lot of prices are in euros.
A large domestically founded commercial bank.
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