Six Months of Montenegro in SEPA: Over 1.6 billion Euros in Transactions and 3.8 million Euros in Savings for Citizens and Businesses
21/04/2026
Six months after the first transactions within the Single Euro Payments Area (SEPA), the effects of this reform in Montenegro are already clearly visible: international payments have become faster, cheaper and simpler, while citizens and businesses have realised significant direct benefits.
In the first six months, 82,213 SEPA transactions were executed, with a total value exceeding 1.6 billion euros.
One of the most important outcomes relates to a sharp decline in payment costs. The average fee for international transactions has fallen from 73.4 euros, as recorded for SWIFT payments in 2024, to 6.21 euros for SEPA payments, representing a reduction of as much as 92%.
Savings are particularly pronounced in electronic payments. The cost of electronic payments for citizens has decreased from 53.3 euros (SWIFT payments) to 2.07 euros (SEPA payments), while for businesses it has dropped from 48.55 euros (SWIFT payments) to 6.62 euros (SEPA payments). For small-value payments of up to 200 euros, transactions are now almost free of charge.
Based on current results, it is estimated that citizens and businesses have achieved savings of more than 3.8 million euros in just six months. With full digitalisation and the migration of all transactions to SEPA electronic channels, this figure could exceed 14.6 million euros annually.
It is particularly important that the greatest savings are achieved in digital payments, confirming that SEPA, in addition to lowering costs, strongly encourages the modernisation of payment systems and the broader use of contemporary payment channels.
SEPA is of particular importance for citizens and for small and medium-sized enterprises, as lower fees and faster transaction execution directly facilitate day-to-day operations, international trade and cost management.
Additional confirmation of the significance of this reform is provided by international analyses. According to a World Bank report from February 2026, Montenegro has become the country with the lowest cross-border payment costs towards the EU. For payments of 5,000 euros, costs are around 0.04–0.05% of the transaction value, while for transfers of 20,000 euros they fall below 0.01%. The World Bank also noted significantly faster execution of payments, alongside a substantial decline in average transaction costs following SEPA integration.
Accession to the SEPA system is one of the most significant reforms in the payment systems area in the past decade. Its effects are already measured in millions of euros in savings, lower fees, growth in digital payments and a shift in the structure of payment traffic towards more efficient and modern channels. In doing so, Montenegro has positioned itself among the most efficient European countries for cross-border euro payments, making an important step towards deeper financial integration with the European Union.
Further impetus to this process will be provided by the launch of the instant payments system (TIPS Clone) on 20 July, which will further enhance the speed, accessibility and efficiency of payment services, offering even more modern and straightforward transaction execution for citizens and businesses.