Montenegro has officially joined the European payments area (SEPA), enabling citizens and businesses to send and receive money across 40 European countries quickly, securely, and under the same rules as in EU member states. The milestone was marked in a ceremony organized by the Central Bank of Montenegro, the government, and the EU Delegation in Montenegro.
Governor of the Central Bank of Montenegro, Irena Radović, emphasized that SEPA membership allows Montenegro to fully participate in the European payment system, providing tangible benefits such as cheaper remittances, faster online payments, and greater competitiveness for businesses.
European Central Bank President Christine Lagarde highlighted the integration as a symbolic step on Montenegro’s path toward EU membership, while Prime Minister Milojko Spajić called it a historic milestone that opens the country to a larger European market and new economic opportunities.
EU Ambassador Johan Satler described the move as a strong political signal of Montenegro’s commitment to European integration, while Finance Minister Novica Vuković noted that SEPA membership demonstrates the country’s ability to meet European standards.
The first SEPA transaction from Montenegro was symbolically executed during the ceremony, officially connecting Montenegrin banks to the European SEPA network, which now includes over 3,900 payment service providers from 41 countries.
Joining SEPA significantly reduces payment fees. Daily transfers up to 200 euros for individuals will cost only 0.02 euros, and electronic transfers up to 20,000 euros will be charged 1.99 euros, compared to higher fees for larger transfers or over-the-counter transactions. Annual savings for citizens and businesses are estimated at 13.9 million euros, with businesses benefiting 10.8 million euros; long-term savings before EU accession are expected to exceed 50 million euros.
DG ENEST Director Gert Jan Kopman called the day historic, noting that SEPA membership will enhance cross-border trade, financial inclusion, and overall economic growth while reducing the informal economy.
