The Central Bank of Montenegro has extended the operating hours of the domestic payment system to include Saturdays, Sundays and public and other holidays, allowing citizens and businesses to execute payment transactions throughout the year. Cut-off times are 2:30 PM for transactions up to EUR 1,000 and 3:00 PM for transactions above EUR 1,000. Weekend and holiday operations add 118 processing days per year, removing the need for funds to remain pending until Monday and reducing average transaction time by about 0.43 days (10 hours and 20 minutes). The central bank estimates this will free around EUR 32 million per year in capital previously tied up by settlement delays and reduce reliance on short-term loans and overdrafts, generating around EUR 1.6 million in annual savings in financing costs for businesses and citizens. The change builds on the extension of weekday operating hours introduced on 18 August 2025, which set cut-offs at 7:30 PM for transactions up to EUR 1,000 and 8:00 PM for transactions above EUR 1,000, with six clearing cycles per day. The central bank also linked the extended operating window to preparations for instant payments under the TIPS Clone project with Banca d’Italia and the World Bank, with implementation expected in July 2026 to enable 24/7/365 real-time payments.
Central Bank of Montenegro 2025-10-20
Central Bank of Montenegro extends domestic payment system processing to weekends and holidays with value-based cut-off times
The Central Bank of Montenegro has extended the domestic payment system's operating hours to include weekends and holidays, adding 118 processing days annually and reducing transaction times. This change is expected to free EUR 32 million in capital and save EUR 1.6 million in financing costs annually. The extension aligns with preparations for the TIPS Clone project, aiming for 24/7/365 real-time payments by July 2026.