In a decisive step toward European financial integration, all banks operating in Montenegro are set to enter the process of joining the SEPA (Single Euro Payments Area) system, following the Central Bank of Montenegro’s (CBCG) official application to the European Payments Council.
With over half the market already engaged, the rest are expected to follow by 15 May.
Starting 6 October, cross-border payments will become faster, cheaper, and more secure, unlocking an estimated €160 million in annual economic gains.
Governor Radović highlighted this transition as a transformative reform—aligning Montenegro with EU standards and enhancing digital inclusivity, especially in tourism and services.
The SEPA shift, coupled with the TIPS Clone project for 24/7 instant payments, is hailed as a cornerstone of a modernised, competitive, and investor-friendly economy.
