Central Bank of Montenegro outlines SEPA go live on 7 October with electronic payment fees falling to a maximum of EUR 3.99

The Central Bank of Montenegro presented its move to Single Euro Payments Area (SEPA) standards at a round table hosted with the Chamber of Commerce of Montenegro, setting out how the country will become operationally integrated into the European payment system from 7 October. The change is intended to enable faster and significantly cheaper euro transfers under rules and conditions aligned with those in European Union member states. The bank said electronic payment fees are expected to fall from an average of EUR 73 per transaction to a range of zero to a maximum of EUR 3.99, translating into annual savings of over EUR 10 million for the economy and almost EUR 14 million for the economy and citizens, rising to more than EUR 50 million by EU membership. It also highlighted recent domestic payment-system reforms, including a new generation of the RTS/X payment system with online clearing and immediate availability for transactions up to EUR 1,000, the abolition of fees for payments after 2 p.m., and extended operating hours until 8 p.m. Weekend and public-holiday processing is planned to start from 20 October, adding 118 processing days per year and reducing average transaction duration by more than 10 hours, with an estimated EUR 32 million reduction in constantly tied-up working capital. Looking ahead, the Central Bank of Montenegro announced plans to introduce a TIPS Clone instant payment system in July 2026, with transfers executed in less than 10 seconds, and estimated that SEPA and instant payments together could deliver potential benefits of up to EUR 160 million annually, equivalent to 2.3% of Montenegro’s GDP.