Starting October 5, 2025, citizens and businesses in Montenegro will be able to conduct their first transactions via the SEPA system, which enables faster and significantly cheaper money transfers within the European Union and beyond. The European Payments Council (EPC), the governing body of the Single Euro Payments Area (SEPA), has set October 5 as the operational readiness date for Montenegrin banks to transition to SEPA payment schemes.
According to the Central Bank of Montenegro (CBCG), this date provides banks and payment service providers in Montenegro, as well as SEPA system participants in other countries, additional time for technical alignment, user education, and optimization of operational procedures to ensure seamless integration and service delivery via SEPA payment schemes.
Considering the significant technical support and regular progress monitoring of banks in Montenegro, CBCG expects a significant part of the market to be operationally ready by the end of June 2025, even though the EPC has formally set October 5 as the date for operational readiness.
The EPC’s decision is linked to the technical adjustments of over 3,500 banks already part of the SEPA system, aimed at integrating Montenegro’s market and adapting to the new SCT Inst rules, which will come into effect on October 5.
These new SCT Inst rules will make instant payments mandatory for all banks in the SEPA zone, allowing transactions to be completed in 10 seconds, 24/7/365, with no additional fees compared to standard SEPA transfers. Moreover, stricter security measures will be introduced, including the matching of IBANs and recipient names. These changes require mutual alignment and implementation by the banking sector within the SEPA market.
According to the EPC work calendar, Montenegrin banks can begin submitting applications to join SEPA payment schemes on April 18, with the final deadline for submission being August 22, 2025, to achieve operational readiness in October.
Banks in Montenegro, coordinated by the CBCG, are already actively working to meet the established deadlines to ensure successful integration into the SEPA system.
By introducing the SEPA payment system, citizens and businesses in Montenegro will have access to faster, more secure, and significantly cheaper payment transactions within the EU and beyond. This step will enhance payment system efficiency, lower business costs, and increase Montenegro’s connectivity with European markets, further boosting economic integration and the competitiveness of Montenegro’s financial sector, according to the CBCG.
