Albanians are increasingly making transactions through banking applications. The latest data from the Bank of Albania shows that during the first two months of the year, around 1.6 million home banking transactions were carried out, or 22.5% more than in the same period of 2024.

With the increase in the number, the value of transactions has also been higher. Specifically, the value of home banking transactions has increased by 21.2%. The greater increase in number than in value shows that more transactions were carried out in January-February, but their amount was very high. Specifically, the value of banking transactions via smartphones has reached Lek 414 million.

However, if we make a comparison between January and February, we notice that the number of transactions has increased in February, but the amount of payments has decreased. So, compared to January, more transactions were carried out in February, but the amounts paid through banking applications were smaller.

According to statistics from the Bank of Albania, in February, 4% more transactions were carried out than in January, while their value was 10.5% lower. In other words, the number of transactions reached 822 thousand in February, but fell to Lek 195 million.

Home banking refers to the carrying out of transactions from home through bank applications, to carry out money transfers, pay taxes, electricity, water, telephone bills, police fines, credit card payments, and others, without the need to appear at physical bank branches.

Making transfers through banking applications on the phone saves much more time than those carried out at physical bank branches. Financial transactions can often be completed within a few minutes at home.