Montenegro has taken a major step toward European financial integration, as all banks operating within its financial system have reportedly submitted successful applications to join the Single Euro Payments Area (SEPA).
The Central Bank of Montenegro (CBCG) announced that the European Payments Council had approved the applications and confirmed that the banks would be officially registered under the SEPA Credit Transfer (SCT) scheme on 13 June.
CBCG stated that from 6 October, when the new SEPA rulebook takes effect, all cashless euro transactions between Montenegro and SEPA countries would be processed under the same conditions as domestic payments within the EU.
They explained that this would lead to faster, safer, and more affordable transactions for citizens, businesses, and the public sector, thanks to direct integration with the European payments market.
The Bank also emphasised that this achievement demonstrated Montenegro’s technical, regulatory, and institutional readiness for full EU integration.
SEPA membership, they said, was a crucial step toward a unified European market and would further strengthen trust in the country’s financial system.
CBCG reminded that Montenegro became part of the SEPA geographical area in November 2024, enabling the banking sector to begin the formal accession process, which included regulatory and technical alignment.
