Regulatory Alerts2020-01-01
Decision on Limiting the Fee for Executing Credit Transfers Effected in the Single Euro Payments Area (SEPA)
The Council of the Central Bank of Montenegro issued this decision to cap fees charged by payment service providers for SEPA credit transfers. The regulation sets maximum charges of EUR 1.99 for electronic transactions and EUR 3.99 for branch-initiated transfers up to EUR 20,000, with higher caps for larger amounts. Additionally, the first daily transfer under EUR 200 is limited to EUR 0.02, and payees are subject to the same fee limits as payers under this framework.
Unofficial translation Decision on limiting the fee for executing credit transfers effected in the Single Euro Payments Area (SEPA) (OGM 074/25) 1 Pursuant to Article 44 paragraph 2 point 3 of the Central Bank of Montenegro Law (OGM 40/10, 46/10, 06/13, 70/17, 125/23) and Article 59 paragraph 5 of the Payment System Law (OGM 62/13, 111/22, 15/25), the Central Bank of Montenegro Council, at its meeting held on 9 July 2025, passed the following DECISION ON LIMITING THE FEE FOR EXECUTING CREDIT TRANSFERS EFFECTED IN THE SINGLE EURO PAYMENTS AREA (SEPA) Article 1 This decision limits the amount of fee which payment service providers shall charge to payment service users for executing credit transfers effected in the Single Euro Payments Area (SEPA) through SEPA payment schemes (hereinafter: SEPA credit transfers) Article 2 For executing SEPA credit transfers, payment service providers may not charge payment service users a fee that exceeds the following:
- for transactions initiated electronically (via internet or mobile payments):
- for transactions up to EUR 20,000 – EUR 1.99,
- for transactions exceeding EUR 20,000 – EUR 25;
- for transactions initiated physically (at branch offices):
- for transactions up to EUR 20,000 – EUR 3.99,
- for transactions exceeding EUR 20,000 – EUR 50. Article 3 Notwithstanding Article 2 of this Decision, the fee to be charged to consumers for the execution of the first SEPA credit transfer with a value not exceeding EUR 200 carried out during the day may not exceed 0.02 euros, regardless of the manner of initiating the payment order. Article 4 The payee’s payment service provider may not charge the payee a fee exceeding that specified in Article 2 point 1 of this Decision for the receipt of a SEPA credit transfer. Article 5 This Decision shall apply until Montenegro’s accession to the European Union. Article 6 This Decision shall enter into force on the eighth day following that of its publication in the Official Gazette of Montenegro. THE COUNCIL OF THE CENTRAL BANK OF MONTENEGRO Decision number 0101-5501-4/2025 CHAIRPERSON Podgorica, 9 July 2025 GOVERNOR Irena Radović, m.p.