Payments within the Single Euro Payments Area (SEPA) payment scheme, which began today, provide Serbian citizens and businesses with numerous faster and more favorable transactions abroad, as well as greater efficiency and security, the National Bank of Serbia (NBS) announced.
Also, among the benefits are simpler international business and better user experiences for citizens through easier sending and receiving money from abroad.
SEPA for Serbia, as it was emphasized, also represents an important milestone in the process of the country's financial integration into European flows and brings the domestic payment system closer to modern EU standards in this area.
The NBS will, as stated, enable SEPA payments for budget users, and 18 domestic commercial banks will make SEPA payments for the needs of citizens and businesses.
It was emphasized that the NBS played a key role in the process of joining the SEPA framework, coordinating all activities with relevant domestic and international institutions and in cooperation with commercial banks.
Payments within the Single Euro Payments Area (SEPA) payment scheme began in Serbia today, which will reduce the current commission for money transactions to and from the European Union (EU).
Membership in SEPA allows both the sender and recipient of money to have lower costs and faster transaction execution, and this payment scheme is expected to bring annual savings of 50 to 60 million euros at the level of Serbia and will for now only apply to SEPA Credit Transfer, while Instant Credit Transfer and SEPA Direct Debit should start in a year, so that banks can be technically prepared.
Serbia's accession to the SEPA area will enable money to be transferred within one business day, instead of the previous several days, which was often necessary due to the participation of multiple intermediary banks in the transaction.
For companies in Serbia, this 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 convenient sending and receiving of money, including remittances from abroad.
The amount of fees for transactions will be determined by each bank individually, in accordance with the applicable legislation of the specific country and its service tariff.
The European Commission welcomed Serbia's entry into SEPA.
The European Commission today welcomed Serbia's joining the Single Euro Payments Area (SEPA), which will enable citizens and businesses to make faster and cheaper transactions in euros.
The Commission announced that today 18 banks from Serbia officially joined the SEPA scheme, thanks to which transactions in European currency between these banks and the EU will be more reliable, faster and cheaper, with potential total savings of up to €400 million for individuals and businesses.
SEPA will also simplify international transactions and speed up cross-border trade for small and medium-sized enterprises, the Commission pointed out.
The decision was made by the European Payments Council after Serbia entered the geographical scope of the SEPA system in May 2025.
Serbia is the fifth partner in the EU enlargement process to join the SEPA scheme, after Albania, Moldova, Montenegro and North Macedonia.
The Commission stated that joining SEPA shows how gradual integration can bring concrete benefits to the EU's partners and its citizens long before EU accession.
It further states that the Commission will continue to support gradual integration, also through the Growth Plan for the Western Balkans, which strengthens socio-economic links with the EU, including ensuring gradual access to certain areas of the EU single market in accordance with Union standards and regulations.
The Head of the EU Delegation to Serbia, Andreas von Beckerath, wrote on X that in countries that have recently joined SEPA, the same payment system used in member states, fees (in euro transactions) have been reduced by up to ten times.
"This is what the Growth Plan looks like in practice: integration you can feel in your wallet," Von Beckerat pointed out.
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