Serbia to join Single Euro Payments Area (SEPA) scheme tomorrow

Serbia will start making payments within the Single Euro Payments Area (SEPA) scheme tomorrow, which will reduce the current fees for money transactions in and out of the European Union (EU). Membership in SEPA allows both senders and recipients to have lower costs and faster transaction execution. The scheme is expected to bring annual savings of EUR 50 to 60 million at the Serbian level and will now only apply to SEPA Credit Transfer, while Instant Credit Transfer and SEPA Direct Debit should start within a year, so that the banks can be technically prepared.

Serbia’s accession to the SEPA will enable money to be transferred within one business day, instead of several days like previously, which is often required due to the participation of multiple intermediary banks in the execution of transactions. For companies in Serbia, it will mean simpler payments to suppliers and faster receipt of money from clients in the SEPA area, which will contribute to reducing business costs, and for citizens it will mean faster and more affordable sending and receiving of money, including remittances from abroad.

The amount of transaction fees is determined by each bank individually, in accordance with the applicable legislation of the specific country and its service tariff. The NBS previously stated that neither citizens nor businesses will have additional obligations, nor will any special adjustments be required.

The SEPA system will enable non-cash payments in euros that are under the jurisdiction of the central bank to be made under favorable and standardized conditions in all member states of this payment area, which includes a total of 41 countries. These include all 27 members of the European Union, the countries of the European Economic Area - Iceland, Norway and Liechtenstein, and also Switzerland, the United Kingdom, as well as Andorra, Monaco, San Marino, the Vatican, Albania, Montenegro, Moldova and North Macedonia.

The NBS previously emphasized that joining the SEPA system was an important part of Serbia’s comprehensive European integration process and further harmonization of the domestic financial system with the legal and institutional framework of the European Union. This represents a significant step in further modernization of payment services and harmonization with the best European standards and practices.

Joining the SEPA area has enabled banks to join SEPA payment schemes and to execute their payment services in euros in accordance with the uniform rules and standards that apply within the SEPA payment schemes, which in practice will mean that payments in euros will be executed in the same way, according to the same technical and business rules, regardless of whether SEPA is executed or whether transactions are made within one country.

The European Payments Council previously approved applications for joining this payment scheme submitted by the central bank and 18 commercial banks in Serbia, and as of April 10, 2026, they have been officially entered into the register of participants.

In the first phase of access to the SEPA payment scheme, banks from Serbia have submitted applications for access to the SEPA Credit Transfer platform, while in the following phases, banks are expected to gradually join the SEPA Instant Credit Transfer platform scheme, which will enable almost instant execution of platform transactions in euros.

Narodna banka Srbije Beograd

SEPA

National Bank of Serbia

entry of Serbia into SEPA system