Montenegro officially and operationally became part of the Single Euro Payments Area (SEPA). This means that citizens and businesses will now be able to send and receive money within the SEPA zone significantly faster, cheaper, and more securely, on equal terms with forty European countries, including all EU member states.

The launch of the first international euro transactions within the European payment area, less than a year after Montenegro became the first Western Balkan country to join SEPA, marks a historic milestone and a step towards integration into the European financial space – even before the country attains full EU membership.

The first daily transfer of up to €200 from individuals to SEPA zone countries will be free of charge. For electronic transfers of up to €20,000, the maximum fee is €1.99. For transfers exceeding €20,000, a fee of €25 applies. Lower fees and faster transactions will bring direct benefits to both citizens and businesses, from saving money to creating greater opportunities for trade within the European market.

This historic step – Montenegro’s full formal and operational membership in SEPA – is the result of joint efforts by the Government, Parliament, and the Central Bank of Montenegro in harmonising regulations with European standards, as well as the synergy between the Central Bank and eleven Montenegrin commercial banks in modernising the payment infrastructure and meeting the standards of the European Payments Council for the entire financial sector of Montenegro in record time, with the support of the European Commission and the World Bank. SEPA membership confirms that reforms and integration efforts are already bringing tangible and concrete benefits to citizens and businesses, even before EU accession.

The launch of the first SEPA transactions marks a significant step towards economic convergence of Montenegro’s per capita income with that of the EU, promoting sustainable growth and deeper financial integration into the European market. Citizens and businesses will be able to enjoy all the advantages of the SEPA system – giving Montenegro’s European future a truly practical dimension.