Montenegro citizens and businesses save over 9 million euros via SEPA

One year after joining the Single Euro Payments Area (SEPA), Montenegro has recorded significant economic benefits. According to the Central Bank, citizens and businesses have saved more than 9 million euros due to reduced transaction costs.

Since October 7, 2023, 237,000 transactions totaling 4.2 billion euros have been processed. The average transaction fee dropped to 5.71 euros, representing a 92 percent decrease from previous costs that exceeded 74 euros. Electronic payments saw particularly high benefits, with citizens paying an average of 1.82 euros per transaction and businesses approximately 6 euros.

Economic analyst Mirza Mulešković noted that the transition to SEPA is a major step for the banking sector, facilitating faster and more secure money flows. He suggested these lower costs allow for increased business investment and personal savings, while positioning Montenegro as a more attractive destination for cooperation within the European market.