Skopje, 27 March 2025 

"By joining SEPA, the transfer of funds in euros will be even more simplified and faster, enabling citizens, by using their mobile applications, to make payments in euros easily by entering minimum set of data in the payment order." The costs of transferring euro funds will be smaller, given that SEPA primarily applies the principle of shared commission payments i.e. both payer and the payee pay the commission fee to their banks individually. Currently, the transfer of funds often involves several foreign correspondent banks, which charge additional fees, which are therefore passed on to the payer and increase the total payment costs. In the future, there will be no additional costs for euro payments in SEPA. This was emphasized by the Vice-Governor Emilija Nacevska in an interview with “Bankarstvo”.

The National Bank is already taking steps to facilitate the execution of inflow payments. Vice-Governor Nacevska noted that bylaws adjustment is underway, which will allow inflows from abroad to be made available on the payee's payment account immediately, and no later than the next business day.

"Banks will adapt their information systems in order to enable citizens and companies easy electronic initiation of the cross-border euro payments via electronic and mobile banking. Of course, the banks will provide these services also at counters for the customers who prefer this method of making payments, although there is an increasing trend towards electronic payment execution", said Nacevska, who stressed that banks should demonstrate their legal, operational and technical readiness in their request for access to SEPA payment systems. Each bank should submit this application to the European Payments Council separately, no later than 22 August 2025.

Vice-Governor Nacevska emphasized that if the bank meets the envisaged legal, technical and operational conditions as assessed by the European Payments Council, it will be enabled to make euro payments in SEPA starting from 5 October 2025, when citizens and companies can experience the benefits of SEPA membership i.e. faster, simpler and cheaper cross-border payments in euros.