Many foreigners living in Albania receive money from abroad, whether it’s income, support from family, or savings. Fortunately, there are several trusted ways to send money to Albania and some are faster and cheaper than others.
Here’s what you need to know.
Most Common Options
1. Western Union is one of the most popular choices in Albania. You can send money online, and your recipient can pick it up in cash at any Western Union location across the country, usually within minutes.
2. Remitly is another great option if you’re sending from the U.S. or Europe. It lets you deposit money directly into an Albanian bank account or arrange for cash pickup. It’s fast and usually cheaper than traditional banks.
3. MoneyGram is also available. It works similarly to Remitly, often with better rates than banks.
What Does It Cost?
Each provider charges two things: a transfer fee and a currency exchange markup. The transfer fee is what you pay upfront (sometimes €0, sometimes €10). The exchange markup is hidden, usually 1–3% worse than the “real” exchange rate.
So for example, if the real exchange rate is 1 USD = 100 ALL, the provider might give you 1 USD = 97 ALL and keep the difference. That’s why it’s important to compare both the fee and the rate.
How Long Does It Take?
- Cash pickup: Usually within minutes (Western Union, MoneyGram)
- Bank deposit: 1–2 business days (Remitly, XE)
Sending Money From Albania
Now, what if you live in Albania and want to send money abroad, say, to a family member or a savings account?
This is slightly trickier, but still possible.
Best Options
1. PayPal also works, though they tend to have higher fees and exchange rate markups.
2. Multi-currency accounts like Revolut or N26 are limited in Albania but can help if you have a European bank account linked to your finances here.
What to Watch Out For
Most Albanian banks charge relatively high fees for international transfers, sometimes €25 or more per transaction. Plus, the exchange rates are usually worse than what you’d get on platforms like Wise.
If you need to send large amounts (over €10,000), you’ll likely be asked for documentation, such as proof of income, purpose of transfer, etc. This is standard for anti-money laundering (AML) rules.
Banks also have their own limits, but most transfers over €10,000 will trigger extra paperwork, no matter what platform you use.
Quick Tips to Save Time & Money
- Compare platforms before sending. Websites like RemitFinder or Wise’s calculator show the real exchange rate and total amount your recipient will get.
- Avoid using traditional banks, unless necessary. They charge more and give worse exchange rates.
- Plan ahead for large transfers. Anything above €10,000 will likely be reviewed or delayed.
- Double-check recipient details. One wrong number can delay your payment by days.
Final Thoughts
Sending and receiving money in Albania doesn’t have to be complicated. With the right platform, it can be fast, secure, and surprisingly affordable. Just be sure to compare fees, check the exchange rates, and choose the right method for your needs, whether it’s cash pickup for speed or bank transfers for lower fees.
