The National Bank of Serbia has published a detailed explanation of the Single Euro Payments Area and its implementation in Serbia. It states that Serbia joined SEPA on 22 May 2025 and that domestic banks have enabled the SEPA Credit Transfer scheme from 4 and 5 May 2026, making standardized cross-border EUR payments available to Serbian users across the wider SEPA area. At this stage, SEPA Credit Transfer is the only SEPA scheme available through Serbian banks, which must offer it for transactions that meet the scheme's conditions. Under the scheme, both payer and payee must hold accounts with banks participating in SEPA Credit Transfer. Orders may be submitted electronically or on paper and must include the amount, execution date and the recipient's IBAN, with the recipient provider's BIC also required where it cannot be derived from the IBAN or where the recipient account is in a SEPA country or territory outside the European Economic Area. Resident payers and recipients must also comply with Serbia's foreign exchange rules, including providing the payment basis and supporting documents where required. A properly submitted transfer must be executed within one business day of the payer bank receiving the complete order, subject to the bank's cut-off time. Incorrect or incomplete orders are rejected, and if an erroneous transfer is executed, the payer bank may request a return of funds but cannot guarantee recovery. The rollout remains in an initial phase. Fees are set by individual banks and are currently influenced by Serbian banks' indirect participation in SEPA through correspondent banks, while the National Bank of Serbia said it is monitoring market conditions. SEPA Instant Credit Transfer will be introduced later and gradually, with timing dependent on the technical and operational readiness of European banks and payment infrastructures to connect Serbian banks.
National Bank of Serbia2026-05-18
National Bank of Serbia explains SEPA implementation and confirms rollout of SEPA Credit Transfer by domestic banks
The National Bank of Serbia detailed SEPA implementation, confirming Serbia joined on 22 May 2025 and that domestic banks enabled the SEPA Credit Transfer scheme from 4–5 May 2026 for standardized cross-border EUR payments. SEPA Credit Transfer is currently the only scheme, subject to scheme conditions, Serbian foreign exchange rules and execution within one business day for properly submitted orders, with erroneous transfers not guaranteed to be recovered. The rollout is in an initial phase with bank-set fees, and SEPA Instant Credit Transfer will be introduced later, depending on the readiness of European banks and payment infrastructures.