The payment system now operates on weekends and holidays

The working hours of the domestic payment system are being extended to include weekends and holidays, the Central Bank of Montenegro (CBCG) announced today.

This will enable citizens and businesses to carry out monetary transactions on Saturdays, Sundays, as well as during public and other holidays, as follows: until 2:30 p.m. for amounts up to 1.000 euros, and until 3:00 p.m. for amounts greater than 1.000 euros.

"By introducing weekend and holiday operations, the domestic payment system will be active for an additional 118 days a year, ensuring uninterrupted processing of payment transactions throughout the year. This means that funds will no longer 'wait for Monday', but money will be transferred between accounts even during weekends and holidays, which shortens the average duration of transactions in Montenegro by about 0,43 days or 10 hours and 20 minutes," the statement reads.

Thanks to the faster flow of money between banks and the economy, they said, it is estimated that around 32 million euros of capital will be released annually that is currently held in the system due to time delays in payment settlements. This capital will be available to banks and companies for other purposes, investments, lending and current operations, the CBCG points out.

"At the same time, companies and individuals will no longer have to use short-term loans or overdrafts to bridge delays in cash inflows during non-working days. This reduces financing costs and interest on these short-term debts, which brings savings of around 1,6 million euros per year to the economy and citizens," the Central Bank said, adding that this effect results from better cash flow management and the availability of liquid assets in real time.

They remind that as of August 18, the working hours of the domestic payment system have been extended on weekdays until 7:30 p.m. for transactions up to 1.000 euros, or until 8:00 p.m. for transactions above 1.000 euros, with a total of six clearing cycles per day.

"The extension of the working hours of the domestic payment system to weekends and holidays represents another important step in the modernization of the national payment infrastructure and preparation for the introduction of instant payments through the TIPS Clone project, which the Central Bank of Montenegro is implementing in cooperation with the Bank of Italy and the World Bank. The implementation of the TIPS Clone system is expected in July 2026, which will enable the citizens and economy of Montenegro to make payments in real time - 24 hours a day, seven days a week, throughout the year (24/7/365). With these activities, the CBCG confirms its strong commitment to the development of a modern, efficient and inclusive payment system, which, with Montenegro's membership in the SEPA zone, enables faster, cheaper, safer and more accessible money flow, in accordance with the highest European standards and practices," the statement reads.