The Central Bank of Montenegro has submitted an application to the European Payments Council (EPC) to join the Single Euro Payments Area (SEPA) payment schemes, a key operational and technical step toward moving Montenegro’s cross-border payments onto SEPA rails. The bank expects this to enable faster, cheaper and safer international payments from Montenegro starting on 6 October 2025, the EPC’s Operational Readiness Date. Montenegro became a member of the SEPA geographical area on 21 November 2024, which opened the formal pathway for the Montenegrin banking system, led by the Central Bank of Montenegro, to join specific SEPA schemes. The central bank submitted its application on the first day permitted by the EPC and plans to continue coordination and process management with domestic banks and European institutions so that transactions to and from Montenegro can be executed under EPC and SEPA rules from 6 October 2025.
Central Bank of Montenegro 2025-04-11
Central Bank of Montenegro applies to join SEPA payment schemes with international payments targeted for 6 October 2025
The Central Bank of Montenegro has applied to the European Payments Council to join the Single Euro Payments Area (SEPA) payment schemes, aiming to enhance Montenegro's cross-border payment efficiency. This follows Montenegro's inclusion in the SEPA geographical area in November 2024. The bank anticipates that SEPA integration will facilitate faster, cheaper, and safer international payments from 6 October 2025.