The Central Bank of Montenegro (CBCG) organized a workshop titled “Alignment with SEPA Rules and the Application Process” for representatives of the Montenegrin banking sector as part of preparations for the country’s transition to the Single Euro Payments Area (SEPA) payment schemes, as announced by the CBCG.
Opening the workshop, CBCG Vice Governor Dr. Zorica Kalezić emphasized that the banking sector has approached the process of joining the SEPA market with professionalism and dedication.
“The project has entered a mature phase of implementation, and with the continuous efforts and commitment of the banks, we expect that the banks will begin submitting applications to the European Payments Council in April. From October 6, both individuals and legal entities in Montenegro will be able to enjoy the benefits of the SEPA system—faster, cheaper, and more secure international payment transactions within the SEPA zone. Today’s workshop, organized by the Central Bank of Montenegro, aims to provide banks with as much practical information and guidance as possible for the successful completion of the process,” stated Kalezić.
The focus of the workshop was on the regulatory and legal aspects of Montenegrin financial institutions joining the SEPA payment schemes, with special emphasis on the documentation that credit institutions must submit to the European Payments Council (EPC), the SEPA umbrella body.
The workshop also covered updates brought by new versions of the SEPA payment schemes, the testing process, the special group “R payment messages,” and other technical details. Through practical examples, the challenges banks will face during the process were discussed, along with potential solutions. The presentation, delivered by Kjeld Herreman from Paylume, an international expert with significant experience in payment systems and SEPA payment schemes development, was attended by more than 50 representatives from Montenegrin banks. According to the EPC schedule, applications from Montenegrin banks to join the SEPA payment schemes will begin on April 11, with the first transactions through the SEPA payment schemes expected to take place on October 6, 2025.
The CBCG also added that Montenegro’s accession to the SEPA system represents a historic step toward integration into the European Union’s financial ecosystem, bringing significant benefits for Montenegrin citizens and businesses, particularly in terms of cheaper, faster, and more secure international payment transactions.
“The CBCG will continue to provide the necessary regulatory and technical support to ensure that banks are ready to submit their applications and join the SEPA payment schemes within the planned timeline,” the announcement concluded.
