Montenegro and SEPA: A New Stage in Payments and Integration

Since November 2024, Montenegro has officially entered the SEPA (Single Euro Payments Area) geographical area, which means the beginning of procedures for integrating the banking system into the European payment infrastructure.

The country's central bank (CBCG) applied to join SEPA schemes in mid-2025, and October 6, 2025 is the date from which financial institutions should be technically ready to start SEPA operations.

What is SEPA and what is changing

SEPA is a single euro—based payment area that includes the countries of the European Union and a number of neighboring countries, where payment transfers and electronic payments between participants are standardized in terms of rules, speeds and cost.

By joining SEPA, Montenegrin banks will be eligible to operate under the SEPA Credit Transfer (SCT), SEPA Instant Transfer (SCT Inst) and SEPA Direct Debit (SDD) schemes.

Benefits for citizens, businesses and investors

Reduction of banking expenses
Thanks to the uniform rules, the cost of transfers in euros will become comparable to domestic payments in SEPA member countries. This is especially important for people who receive transfers from abroad or send money to EU countries.

Faster transfers
SEPA Instant will allow payments to be made almost instantly, 24/7, including weekends, which simplifies payments within businesses, for online purchases, between legal entities, as well as for tourists.

Improving trust and transparency
Bringing legislation and procedures in line with European standards increases investor confidence in Montenegro's financial system. This may have a positive impact on the inflow of foreign capital, real estate, and tourism.

When will the SEPA options start working fully?

The deadlines are set as follows: since April 2025, banking institutions have begun the process of joining SEPA schemes, and since June 2025, many banks have been approved to participate in the SCT scheme.

And from October 6, 2025— the Operational Readiness date, when banks are required to start working under SEPA rules.

Possible difficulties and what to look for

Technical adaptation of banks, updating of IT systems, security standards and user identification will require time.
CEE Legal Matters

Not all banks can offer all types of SEPA services at once (for example, Instant and Direct Debit) - you need to specify the terms in your bank.

It is important that the accounts are in euros and have correct banking details (IBAN, etc.), compliance with SEPA rules.

Conclusion

The launch of SEPA in Montenegro is a significant step that opens up new opportunities for businesses, investors and ordinary citizens. This means cheaper and faster transfers, improved international payments, increased confidence in the financial sector, and strengthening the country's position on the path to integration with the European Union.