Skopje, 10 April 2025   

“As of October 2025, commercial banks in the country will be able to join the payment systems of the Single European Payment Area (SEPA), setting the stage for faster, cheaper and more efficient cross-border euro payments. The National Bank actively monitors the preparation process of banks to join SEPA, which includes legal, technical and operational compliance with the European standards”, points out the Vice Governor of the National Bank, Emilija Nacevska, in an interview with the national service MTV.

There will be significant benefits for citizens and companies-reduced costs, simplified procedures and much faster transactions.  The money sent from abroad, including that from emigrants, will be received the same or the next working day, at significantly lower costs, while banks are required to follow through these benefits to clients through lower fees.

In order to simplify the procedure, the National Bank has already canceled the obligations for submitting documentation on current transactions with abroad, among which for paying leave or scholarship abroad, as well as for capital transactions, except for small number of transactions with explicit legal obligations.  This will significantly facilitate online and over-the-counter banking and will encourage the use of electronic and mobile payment services. The data show that electronic payments in the country have already increased annually by over 40% in 2024.

We are also working on facilitating the inflow payments procedures.   The goal is to make the assets received from abroad, including fees, available immediately, or the next day, at the latest, without submitting an agreement or invoice, except in specific cases when it is legally binding.

In addition, there are no limitations for the amounts that can be transferred as gift, except the limit of Euro 100 thousand in instant payments, while the examinations for anti-money laundering and terrorism financing will remain, in accordance with the international standards.