Montenegro has officially joined the Single Euro Payments Area (SEPA), enabling citizens and businesses to send and receive euros across more than 40 SEPA countries—including all 27 EU member states and European Economic Area nations—quickly, securely, and at minimal cost, according to Irena Radović, President of the Central Bank of Montenegro.
This integration drastically reduces transaction costs: while the average cross-border payment in Montenegro cost €73.40 in 2024, SEPA transfers are now free for amounts up to €200 and cost only €1.99 for transactions up to €20,000.
The move enhances financial inclusion, simplifies online payments, and improves access to EU markets for businesses, while symbolizing Montenegro’s growing alignment with the European Union. The achievement was made possible through cooperation among the country’s 11 banks and support from international partners, including the European Commission, European Payments Council, European Central Bank, and World Bank.
