Podgorica, (MINA-BUSINESS) – According to the Central Bank (CBCG) 82,213 transactions were executed within the Single Euro Payments Area (SEPA)in the first six months), with a total value exceeding €1.6 billion, while savings for citizens and businesses amounted to €3.8 million.

Six months after the first SEPA transactions, the effects of this reform in Montenegro are already clearly visible: international payments have become faster, cheaper and simpler, while citizens and businesses have already seen significant direct benefits.

“One of the most important outcomes is related to a sharp decline in payment costs. The average fee for international transactions has decreased by as much as 92 percent, from €73.4, as recorded for SWIFT payments in 2024, to €6.21 for SEPA payments,” the CBCG said in a press release.

The cost of electronic payments for citizens has decreased from €53.3 (SWIFT payments) to €2.07 (SEPA payments), while for businesses it has dropped from €48.55 (SWIFT payments) to €6.62 (SEPA payments). For small-value payments of up to 200 euros, transactions are now almost free of charge. 

“Based on current results, it is estimated that citizens and businesses have saved more than €3.8 million in just six months. With full digitalization and the migration of all transactions to SEPA electronic channels, this figure could exceed €14.6 million annually,” the press release said.

It is particularly important that the greatest savings are achieved in digital payments, confirming that SEPA, in addition to lowering costs, strongly encourages the modernization of payment systems and the broader use of modern payment channels.