In a radio interview, the National Bank of the Republic of North Macedonia outlined measures it is taking to support the country’s entry into the Single Euro Payments Area (SEPA), including a planned change to make most incoming payments from abroad available to recipients immediately, and at the latest by the next business day, without requiring documents explaining the purpose of the inflow. The initiative is intended to ease inbound payments, including income earned abroad, with exceptions for certain inflows related to capital transactions that remain subject to legal restrictions until the country’s accession to the European Union. The bank also described SEPA participation as enabling simpler euro payments via mobile apps and electronic banking using a minimal set of payment data, with euro credit transfers from any SEPA member country executed within a few hours and instant euro payments in under 10 seconds. Payment statistics for 2024 show that two out of three electronic payment orders in denars were executed by citizens via mobile apps, with mobile-app transactions rising 47% by volume and 72% by value year on year.
National Bank of the Republic of North Macedonia 2025-04-08
National Bank of the Republic of North Macedonia sets out plan to credit most incoming foreign transfers immediately or by next business day ahead of SEPA entry
The National Bank of the Republic of North Macedonia is implementing measures to facilitate entry into the Single Euro Payments Area (SEPA), including immediate availability of most incoming payments from abroad. The initiative aims to simplify inbound payments, with certain capital transaction inflows still restricted until EU accession. SEPA participation will enable faster euro payments via mobile apps and electronic banking, with significant growth in mobile-app transactions noted in 2024.