The Chamber of Commerce of Montenegro (PKCG), together with the Central Bank (CBCG), will organize an event on September 12 to prepare businesses for the transition to SEPA payment standards.
The SEPA system will be implemented from October 6. The CBCG has provided the Chamber with detailed guidance and a summary of banks’ SEPA transaction offers, including client pricing.
On July 9, the CBCG Council approved a comprehensive reform package aimed at reducing costs, speeding up transactions, and creating a safer and more predictable payment system aligned with European standards. The package includes:
- Limiting fees for SEPA credit transfers
- Amendments to domestic payment system rules
- Updates to CBCG tariff regulations
Montenegro joined the SEPA zone on November 21 of last year, enabling its banking system, led by the CBCG, to apply for participation in SEPA payment schemes. This move strengthens financial integration with the EU, improves payment efficiency, and boosts confidence among citizens, investors, and partners in Montenegro’s financial sector.
