For every international bank transfer of up to €10,000, whether outgoing or incoming, the Kosovo-based beverage producer Frutex pays at least €100 in fees.
The company’s owner, Shaqir Palushi, says this amount is usually split evenly — €50 paid by his company upon receiving the funds, and €50 by the sender.
However, according to him, the issue is not only financial, as delays in receiving payments are also significant.
“The arrival of funds can take up to five working days. This is a burden for any business involved in importing and exporting goods,” Palushi told Radio Free Europe.
He explains that the main reason behind these costs and delays is the fact that Kosovo is not a member of the Single Euro Payments Area (SEPA), which means transaction fees are much higher compared to countries that are part of this system.
What is SEPA?
SEPA (Single Euro Payments Area) is a European Union initiative that allows individuals and businesses to make euro-denominated payments securely, quickly, and with equal fees across all member countries.
Currently, SEPA includes 41 countries, among them all EU member states, as well as Switzerland, the United Kingdom, Norway, and more recently Albania and Montenegro.