Twelve Months of SEPA Transactions in Montenegro: Benefits and Savings for Citizens and the Economy

14/10/2026

A year following its operational integration into the Single Euro Payments Area (SEPA), Montenegro is recording significant results. Cross-border SEPA transactions have brought faster, more affordable, and simpler money flows. SEPA has transformed not only the channel, but also the overall economics of international payments: it has enabled substantially cheaper transfers for citizens, while offering the economy lower operational costs and simpler cooperation with partners across Europe. Money from Montenegro is now sent to and received from forty European countries on an equal footing, including all European Union member states.

During the 12 months of SEPA payment infrastructure implementation in Montenegro, since 7 October 2025, over 237 thousand transactions worth a total of 4.2 billion euros have been processed, whilst direct savings for citizens and the economy exceeded 9 million euros.

The most visible change relates to the costs of international transfers. The average fee for a SEPA transaction was 5.71 euros, compared to an average of 73.40 euros under the previous SWIFT payments. This means that the average SEPA transaction is over 92 percent cheaper.

The benefits are particularly pronounced in digital payments for citizens, where the average fee has been reduced from 57.34 euros via SWIFT to just 1.82 euros via SEPA payments, representing a reduction of around 97 percent. For businesses, the average cost of an electronic international payment has been reduced by approximately 89 percent, from 54.62 to 5.96 euros.

Integration into SEPA a year ago was the first major step in modernising Montenegro’s payment system. Since July 2026, domestic Instant Payments, based on the technology and standards of the European TIPS Clone platform, have been available to citizens and businesses. Cross-border SEPA and domestic Instant Payments represent a fundamental shift in Montenegro’s payment landscape: moving away from pricier and slower traditional channels towards a more accessible, modern, digital, and European-connected payment infrastructure.

Montenegro has thus already implemented key components of the European payment infrastructure made available prior to European Union membership. At the same time, the CBCG continues preparations for the next integration phase, including future connectivity with the Eurosystem’s TARGET infrastructure, ensuring Montenegro is fully prepared from day one of membership to operate within the European payment framework.