CBCG: If you pay your electricity, water or telephone bills electronically, you will pay a fee of no more than five cents

Citizens and businesses will pay a maximum of five cents for the most common everyday payments, such as paying electricity, water or telephone bills, instead of the previous average fee of 32 cents, if they make the payment electronically, the Central Bank of Montenegro (CBCG) announced today.

The statement states that the Council of the Central Bank of Montenegro adopted a set of regulations that outline the legal, operational and tariff conditions for the start of the instant payment system in Montenegro.

"The system will start operating on July 20, 2026, when citizens and businesses will be able to make domestic payments in just a few seconds, 24 hours a day, every day of the year, including weekends and holidays. The Council of the Central Bank of Montenegro has adopted a Decision on limiting the amount of the fee charged for executing instant credit transfers. This decision limits the amount of the fee for domestic instant payments of up to 200 euros, made via mobile or internet banking, to a maximum of 5 cents. The same limitation applies to receiving instant payments of up to 200 euros. This means that citizens and businesses will pay a maximum of five cents for the most common everyday payments, such as paying electricity, water or telephone bills, instead of the previous average fee of 32 cents, if they make the payment electronically," the statement states.

The Central Bank of Montenegro said that with this decision, the Central Bank of Montenegro ensures that the new service is available at an affordable price from the start, while also encouraging citizens and businesses to use mobile and internet banking to a greater extent, instead of paper orders and counter services.

"According to the estimates of the Central Bank of Montenegro, at the current volume of electronic transactions, annual savings for citizens and businesses could amount to around one million euros. With further user migration to electronic instant payments, potential savings for citizens and businesses could reach up to 2,8 million euros annually," the Central Bank said.

The institution said that instant payments will be available for money transfers between individuals and legal entities in Montenegro, in the amount of up to 3.000 euros per individual transaction, whose share in total transactions is almost 80 percent.

"The CBCG Council also adopted a Decision on amending the Decision on the detailed method, requirements and procedure for assessing consumer creditworthiness, in order to align it with the amendments to the Law on Consumer Credit. This ensures that the decision to approve a loan is not based solely on the consumer's income, but on a comprehensive assessment of his actual financial situation and ability to settle credit obligations in a sustainable manner by the creditor," the statement states.