SEPA presented in the Chamber of Commerce
12/09/2025
On 12 September, the Chamber of Commerce of Montenegro (CoCM), in cooperation with the Central Bank of Montenegro (CBCG), organised a round table titled “Introduction of the SEPA Payment System”, with the aim of better preparing the economy for the transition to SEPA standards. This payment system enables faster and significantly cheaper money transfers within the EU and beyond, aligning Montenegro with European financial standards and facilitating international transactions and improving the business environment.
The CoCM President, Nina Drakić, expressed her satisfaction that the introduction of SEPA payments is being promoted at the home of Montenegrin entrepreneurs, noting that the CBCG, as a supervisor, understands the needs of the economy. This vision has led to this important result, which means faster euro transactions without delays, lower fees, simplified financial operations and easier integration with partners for the economy.
She congratulated the CBCG on the achieved result and wished entrepreneurs successful use of the new payment options within the SEPA system.
“The CoCM works continuously on improving all prerequisites for successful business operations, including the elimination of business barriers and the reduction of operating costs for our members, thereby boosting their economic potential. Encouraging entrepreneurs to work even better, adapt more quickly to consumer needs and be more competitive in an increasingly demanding market must be accompanied by measures and decisions such as those which the CBCG presented today,” said Drakić.
In her words, the European agenda of the business community is the backbone of Montenegro’s economic integration, and on this path the CoCM and all its members guarantee new strength and new development momentum.
In her address to entrepreneurs, the CBCG Governor, Irena Radović emphasised that, from 7 October, when our country becomes operationally part of the European payment system, the first transactions within SEPA will represent an opportunity for entrepreneurs to do business according to European Union standards.
“SEPA is an instrument of full integration into the single European market before the expected full EU membership. Just as visa liberalisation opened borders for people, SEPA opens borders for our payments and business. It enables Montenegrin companies to have equal rules and conditions as in any EU member state – with lower costs and faster transactions, whether you do business with partners in Berlin, Vienna, Tirana or Skopje,” said Governor Radović.
Speaking about tangible benefits, the CBCG Governor stated that fees for electronic payments, instead of the current average of 73 euros per transaction, will now range from zero to a maximum of 3.99 euros, which will bring annual savings of over 10 million euros for the economy, and a total of almost 14 million euros or the economy and citizens, exceeding 50 million euros by the EU membership.
The Governor also referred to a set of key reforms of the CBCG in the previous period: launching a new generation of the RTS/X payment system with online clearing and transactions up to 1,000 euros immediately available in the recipient’s account, abolishing fees for payments after 2 p.m. and extending the working hours of the payment system until 8 p.m.
Governor Radović announced the start of payment operations on weekends and public holidays from 20 October, which will mean an additional 118 processing days per year, with an average reduction in transaction duration of more than 10 hours.
“This releases about 32 million euros of constantly tied-up working capital and reduces the need of the economy for overdrafts and short-term loans. All these reforms have a clear goal: to free the movement of money, speed up transactions and introduce European prices and standards in Montenegro,” stated the CBCG Governor.
The Governor also announced the introduction of the TIPS Clone instant payment system for July 2026, under which payment transfers will be executed in less than 10 seconds. Together with SEPA, they will bring our economy potential benefits of up to 160 million euros annually – which is 2.3% of Montenegro’s GDP.
“I invite you to turn this historic moment and opportunity into a strength for the growth of your companies and the prosperity of our country,” concluded Governor Radović, calling on entrepreneurs to make greater use of digital payment channels and seize the new era of finance for the growth of their companies.
At the CoCM’s event, attended by over one hundred business representatives, the CBCG Vice-Governor, Zorica Kalezić, presented the strategic steps for introducing SEPA standards into the national payment system. The CBCG representatives answered the numerous questions raised by the business community.