CBCG Applied to join the SEPA Payment Scheme

11/04/2025

Today, the CBCG officially submitted the application to the European Payments Council (EPC) for joining the Single Euro Payment Area (SEPA) payment schemes.

This move is a key operational and technical step in switching to SEPA payment systems and enabling faster, cheaper and safer international payments from Montenegro starting on 6 October 2025, the day set as the Operational Readiness Date by the EPC, the umbrella SEPA authority.

Submitting the application on the first day enabled by the EPC confirms the CBCG’s strategic approach, the system’s readiness to join SEPA payment schemes, high technical and regulatory preparedness and effective coordination with domestic banks and European institutions.

In the coming months, the CBCG will continue intensive activities, coordination and management of the process to fully prepare the banking system for 6 October 2025 so that international transactions from/to Montenegro will be executed following EPC and SEPA rules from that day on.

On 21 November 2024, Montenegro became a member of the SEPA geographical area. It thus acquired the right for the Montenegrin banking system led by the CBCG to join the SEPA payment schemes, including technical and regulatory preparation and the formal application procedure according to the EPC. Today’s CBCG application is exactly that step - joining specific SEPA schemes, a prerequisite for enabling international payments in the SEPA format.

Joining the SEPA system represents a significant step towards strengthening Montenegro’s financial integration with the European Union, contributes to more competitive, secure and efficient payment operations, and additionally intensifies the trust of citizens, investors and partners in stabilising and modernising the Montenegrin financial sector.