Montenegro’s Central Bank has instructed commercial banks to make eligible low-cost instant transfers the default payment option in mobile and internet banking applications.
Under the Central Bank of Montenegro (CBCG) rules, domestic instant payments of up to €200 through digital channels must cost no more than €0.05. The five-cent limit applies to both sending and receiving eligible transactions.
The regulator said that only two banks had introduced instant payments as the default option, while the remaining institutions are expected to complete the changes. CBCG payments director Andrija Jovović said the measure would make the cheaper service accessible without requiring customers to select it manually.
The difference between payment options can be significant. A standard electronic transfer may cost €0.42, compared with a maximum fee of €0.05 for an eligible instant transaction. Banks are also required to display applicable charges before customers confirm payments.
The measure follows the introduction of faster domestic payment infrastructure and closer integration with European payment standards. Its implementation is intended to ensure that households and businesses can benefit directly from lower transaction costs.
Consumers could reduce expenses for routine bill payments and transfers between accounts, while businesses processing frequent small-value transactions could benefit from lower fees and faster settlement.
The central bank’s intervention comes amid increased public scrutiny of banking charges, including complaints about higher account-maintenance and mobile banking fees. The measure specifically concerns access to cheaper instant payments and does not represent broader regulation of bank account charges. CBCG expects the lower-cost payment option to be readily available through digital banking applications, rather than requiring customers to navigate additional settings. The change could also make retail banking payment fees more transparent and easier to compare.
