Citizens and businesses will have more time to contest bank transactions that they did not authorize or that were executed incorrectly. Under the new law “On Payment Services,” published in the Official Gazette, from 1 January 2027 the deadline for filing these claims is extended from 6 to 13 months.
The change gives users of banking services more time to identify and report unauthorized payments or those that were executed inaccurately.
The law also provides for clearer rules on the transparency of fees and conditions of payment services, and creates the legal basis for capping interchange fees on card payments. The aim is to encourage competition and reduce the cost of financial services for citizens and businesses.
Another change concerns institutions that provide payment services. Following Albania’s membership in the European Union, licensed Albanian institutions will be able to offer their services in EU countries, while European institutions will be able to operate in Albania, in accordance with the relevant rules.
The law also sets clearer requirements for electronic money institutions, including licensing, capital and the protection of client funds.
The amendments include measures to strengthen security against technological risks and cyberattacks, as well as obligations to report major incidents and cases of fraud.
This law is part of reforms aimed at expanding electronic payments and reducing the use of physical cash.
The law was passed by Parliament on 22 October 2026, with 76 votes in favor, 3 against and no abstentions. President Bajram Begaj signed the decree promulgating it on 31 October, and it has been set to enter into force on 1 January 2027.