Instant payments launch in Montenegro and Bosnia and Herzegovina

Bank customers in Montenegro and Bosnia and Herzegovina can now transfer money between accounts within seconds, at any time of day.

The new systems began operating on July 20 and remain available during weekends and public holidays.

All 11 banks in Montenegro joined at launch. Banks in Bosnia and Herzegovina will connect in stages after completing technical tests.

Bosnia and Herzegovina set an initial limit of 5,000 marks, or about €2,500, for each transfer. QR-code payments for shops and online purchases are planned later.

The platform is based on the European Central Bank’s instant payment system and is designed to connect Western Balkan banking markets more closely with European payment infrastructure.