Eighteen banks in Serbia have joined the Single Euro Payments Area (SEPA), a system that standardises euro payments.
The move is expected to make euro transactions between those Serbian banks and the European Union “more reliable, faster, and cheaper”, with potential savings of up to €400 million for individuals and businesses, the European Commission said in a statement on Tuesday.
It noted small and medium-sized enterprises could also find it easier to handle international payments and increase cross-border trade as a result.
Serbia entered SEPA’s geographical scope in May 2025, and the decision for the banks to join the SEPA schemes was taken by the European Payments Council, which manages the system.
Serbia is the fifth EU enlargement partner to join SEPA, after Albania, Moldova, Montenegro and North Macedonia.
What SEPA is and who decided
SEPA is a set of payment schemes that allows people and companies to make euro payments under common rules across participating countries, according to the European Commission.
The Commission said it would continue supporting related work through its Growth Plan for the Western Balkans, which includes steps for gradual access to parts of the EU single market under EU standards and regulations.
