North Macedonia banking and payment system updates

The Macedonian Banking Association announced new regulatory changes for payment services and systems scheduled for implementation in November. These updates, driven by the Law on Payment Services and Systems and National Bank regulations, aim to modernize the national payment system and improve data processing efficiency.

Key technical changes include the introduction of the IBAN format, which adds the prefix ‘MK07’ to existing account numbers. Standardized payment orders will replace several current forms in both paper and electronic formats. Furthermore, payment purpose codes will transition from numeric digits to new four-digit codes to allow for more precise identification of transaction purposes.

As of November 2026, all banks in North Macedonia are scheduled to undergo planned technical adjustments over a weekend to transition to these new standards for denar-based payment transactions, effective Monday, November 9. While existing account numbers remain unchanged, banks will update how these accounts are displayed and used within mobile and electronic banking platforms.

Banks have warned that these systemic adjustments may lead to temporary service interruptions or limited availability for certain payment transactions. However, payment cards are expected to remain fully functional, allowing for uninterrupted use of POS terminals and ATM withdrawals or deposits. Citizens and companies are advised to monitor official bank communication channels and plan payments in advance to avoid disruptions.

In a separate development regarding citizen payments, the “MojDDV” (MyVAT) program is set to issue upcoming payments to citizens.