“SEPA Adherence and Application Process” Workshop
27/03/2025
The CBCG organised the “SEPA Adherence and Application Process” workshop for the Montenegrin banking sector’s representatives to prepare for their transition to the Single Euro Payment Area (SEPA) payment schemes.
Opening the workshop, the CBCG Vice-Governor, Zorica Kalezić, emphasised that the banking sector has operationalised joining the SEPA market professionally and dedicatedly.
“The project has been in the mature stage of implementation. With the banks’ continued activities and commitment, we expect them to submit applications to the European Payments Council (EPC) starting in April. From 6 October, the Montenegrin individuals and legal entities will enjoy the SEPA system’s benefits - faster, cheaper and safer international payment transactions within the SEPA area. Today’s workshop organised by the CBCG has provided the banks with many practical information and guidelines for the successful completion of the process,” Vice-Governor Kalezić noted.
The workshop focused on the regulatory and legal aspects of the Montenegrin financial institutions’ accession to SEPA payment schemes, with special reference to the documentation that credit institutions submit to the EPC as the SEPA umbrella body. The workshop also discussed the changes brought about by the new versions of SEPA payment schemes, the testing procedure, an exceptional group of “R payment messages”, and other technical details. The examples from practice have shown the challenges banks will face in this process and the possible answers.
More than 50 representatives of Montenegrin banks attended the presentation held by Kjeld Herreman from Paylume company, an international expert with significant experience in payment systems and payment transactions, including developing SEPA payment schemes.
According to the EPC calendar, the reception of applications from Montenegrin banks to join SEPA payment schemes starts on 11 April, while the first transactions via SEPA payment schemes will be possible from 6 October 2025.
Montenegro’s accession to the SEPA system is a historic step towards integration into the EU’s financial ecosystem, bringing numerous benefits to Montenegrin citizens and the economy, and primarily much cheaper, faster and safer international payment transactions.
The CBCG will continue to provide the necessary regulatory and technical support in the coming period to prepare banks for submitting applications and joining the SEPA payment schemes within the planned period.