Make Payments in ALL - Albanian Lek
Pay in Albanian Leks (ALL)
Mondial Change allows you to make international payments in ALL (Albanian Lek) with ease. Manage your Albanian Lek beneficiaries, track your transactions in real-time, and benefit from a secure online platform. We do not charge any exchange commission on your ALL operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Albanian Lek (ALL)
It is currently not possible to receive payments in ALL.
Mondial Change Answers All Your Questions About Payments in Albanian Leks (ALL)
What is the timeframe for an ALL payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for an Albanian Lek transfer to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if ALL payments are credited beyond 2 business days to the beneficiary's account. External events such as processing delays by intermediary banks, public holidays, execution time, or compliance checks can significantly impact the payment receipt timeframes.
What are the fees for a payment in Albanian Lek (ALL)?
The fees applied to Albanian Lek (ALL) transfers generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading room. The rate mainly depends on your annual ALL exchange volume and the number of Albanian Lek payments made during the year.
Are there minimum or maximum amounts for payments in Albanian Lek (ALL)?
Mondial Change and its partners verify that your Albanian Lek flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well before the validation of your operations.
What are the specific rules for executing a payment in Albanian Lek (ALL)?
For payments in ALL via the SWIFT network, the following information must be provided at a minimum:
• Full name of the beneficiary
• IBAN
• Reason for payment
Is it possible to modify a payment in Albanian Lek (ALL) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Albanian Lek (ALL) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
What are the public holidays when payments in Albanian Lek (ALL) cannot be executed?
January 1: New Year's Day (Viti i Ri)
January 2: 2nd Day of New Year (Viti i Ri)
March 14: Summer Day (Dita e Verës)
March 22: Nevruz (Norouz, Bektashi New Year)
Variable Date: Catholic Easter (Pashkët Katolike)
Variable Date: Orthodox Easter (Pashkët Ortodokse)
Variable Date: Eid al-Fitr (Bajrami i Madh)
May 1: Labor Day (Dita Ndërkombëtare e Punës)
Variable Date: Eid al-Adha (Bajrami i Vogël)
September 5: Mother Teresa Day (Dita e Nënë Terezës)
November 28: Independence Day (Dita e Pavarësisë)
November 29: Liberation Day (Dita e Çlirimit)
December 8: National Youth Day (Dita Kombëtare e Rinisë)
December 25: Christmas (Krishtlindjet)
History of the Albanian Lek
The Albanian Lek (ALL) is the official currency of the Republic of Albania. It was introduced in 1926 to replace the former Albanian franc, aiming to strengthen the country's monetary sovereignty. Since then, the Lek has undergone several reforms, notably after the fall of the communist regime in 1990, during the transition to a market economy. Issued by the Bank of Albania, the Lek is subdivided into 100 qindarka, although these subunits are no longer used. It is used for all domestic transactions in Albania.
Monetary Policy of the Albanian Lek
The Bank of Albania is responsible for conducting the national monetary policy. Its main objectives are price stability, controlling inflation, and supporting sustainable economic growth. The monetary policy relies on instruments such as the key interest rate, mandatory reserves, and market interventions. The Lek operates under a managed floating exchange rate regime, with occasional central bank interventions to limit fluctuations. The Bank also ensures the stability of the banking sector and the efficiency of interbank payments.
Particularities of the Albanian Lek
The Albanian Lek (ALL) is not freely convertible internationally, which limits its use outside the national territory. However, the Albanian banking system allows for modern transactions, including via SWIFT and SEPA networks. Lek banknotes are equipped with advanced security features, such as holograms, watermarks, and UV inks. The Lek is widely accepted in shops, public services, hotels, and e-commerce platforms in Albania. It plays a central role in the country's economic life.