In an interview with national broadcaster MTV, Deputy Governor Emilija Nacevska said the National Bank of the Republic of North Macedonia expects domestic commercial banks to be able to connect to Single Euro Payments Area (SEPA) payment systems from October 2025, enabling faster, cheaper and more efficient cross-border euro payments. The central bank is monitoring banks’ preparations for SEPA access, including legal, technical and operational alignment with European standards. The National Bank expects inbound transfers, including remittances from the diaspora, to reach recipients the same or next business day at significantly lower cost, and indicated banks will need to pass these benefits on to customers through lower fees. It has already removed documentary submission requirements for current cross-border transactions such as paying for travel or tuition abroad and plans to lift them for capital transactions as well, except for a small number where explicit legal obligations apply. Work is also underway to streamline procedures for incoming payments so funds, including fee income, are made available immediately or by the next day without requiring a contract or invoice, except where legally mandated; gift transfers would not face amount limits other than a EUR 100,000 limit for instant payments, while anti-money laundering and counter-terrorist financing controls continue to apply. SEPA access is expected to open from October 2025, alongside further procedural simplifications for capital and inbound cross-border transactions.

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