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SEPA is a single payment zone, which introduces standardized payments throughout Europe, to which Serbia will operationally join from May 2026

What is SEPA?

SEPA is the Single Euro Payments Area. Its goal is to standardize and simplify cashless euro payments across Europe, making them fast, secure, and as affordable as domestic payments.

SEPA introduces unified standards and rules for executing euro payments for all participants in SEPA payment schemes.

It includes countries of the European Union, the European Economic Area (EEA), as well as some other countries (e.g., Switzerland, Monaco, San Marino, the UK, Albania, Andorra, the Vatican, Montenegro) that have joined the payment area as indirect participants. An updated list of SEPA member countries is available on the official website of the European Payments Council and can be viewed here

Banks in Serbia officially join SEPA payment schemes as of May 5, 2026, as indirect participants (through their correspondent or parent banks in the EU).

What is SEPA?

SEPA is the Single Euro Payments Area. Its goal is to standardize and simplify cashless euro payments across Europe, making them fast, secure, and as affordable as domestic payments.

SEPA introduces unified standards and rules for executing euro payments for all participants in SEPA payment schemes.

It includes countries of the European Union, the European Economic Area (EEA), as well as some other countries (e.g., Switzerland, Monaco, San Marino, the UK, Albania, Andorra, the Vatican, Montenegro) that have joined the payment area as indirect participants. An updated list of SEPA member countries is available on the official website of the European Payments Council and can be viewed here

Banks in Serbia officially join SEPA payment schemes as of May 5, 2026, as indirect participants (through their correspondent or parent banks in the EU).

SEPA SCT Standard

The SEPA SCT (SEPA Credit Transfer) standard refers to euro payments, mandatory use of IBAN, application of the SHA cost-sharing model, and predictable execution timelines (D+0 / D+1).

SEPA transactions are executed exclusively in euros, enabling a standardized payment process across all member countries.

SEPA transactions are carried out exclusively under the SHA (shared) option, meaning each party involved pays the fees of their own bank.

For a SEPA transfer, the recipient’s IBAN opened in a SEPA member country is mandatory. This standard enables automatic and accurate processing of payments, while the BIC is used only when necessary for routing.

SEPA transfers are executed on the same day (D+0) or no later than the next business day (D+1), depending on the correspondent bank’s cut-off time.

Transactions are not processed on weekends and public holidays (in Serbia and in the country of the parent/correspondent bank), so processing continues on the next business day.

SEPA SCT Standard

The SEPA SCT (SEPA Credit Transfer) standard refers to euro payments, mandatory use of IBAN, application of the SHA cost-sharing model, and predictable execution timelines (D+0 / D+1).

SEPA transactions are executed exclusively in euros, enabling a standardized payment process across all member countries.

SEPA transactions are carried out exclusively under the SHA (shared) option, meaning each party involved pays the fees of their own bank.

For a SEPA transfer, the recipient’s IBAN opened in a SEPA member country is mandatory. This standard enables automatic and accurate processing of payments, while the BIC is used only when necessary for routing.

SEPA transfers are executed on the same day (D+0) or no later than the next business day (D+1), depending on the correspondent bank’s cut-off time.

Transactions are not processed on weekends and public holidays (in Serbia and in the country of the parent/correspondent bank), so processing continues on the next business day.

SEPA Inflows

Primajte međunarodne uplate brzo i jednostavno putem SEPA SCT sistema. Uz devizni račun u ALTA banci, sredstva vam postaju dostupna bez odlaganja.

The bank receives the incoming payment notification and cover.

The bank credits the funds, making them immediately available to the client.

The bank provides the client with information about the incoming payment.

After the funds are credited, the client must submit to the bank—no later than the same or the next business day—the information on the payment purpose and supporting documentation.

SEPA Inflows

Receive international payments quickly and easily through the SEPA SCT system. With a foreign currency account at ALTA Bank, funds become available to you without delay.

The bank receives the incoming payment notification and cover.

The bank credits the funds, making them immediately available to the client.

The bank provides the client with information about the incoming payment.

After the funds are credited, the client must submit to the bank—no later than the same or the next business day—the information on the payment purpose and supporting documentation.

TIMELINE

Order Submission Method Receipt Time Execution Date Value Date
Outflows
Payments in EUR Branch and Electronic Banking 09:00 – 14:00 Same day D+0
Inflows
Incoming Payment Notification, Allocation of Inflows 09:00 – 17:00 Same day D+0
Foreign Exchange Trading 09:00 – 17:00 Same day D+0

TIMELINE

Order Submission Method Receipt Time Execution Date Value Date
Outflows
Payments in EUR Branch and Electronic Banking 09:00 – 14:00 Same day D+0
Inflows
Incoming Payment Notification, Allocation of Inflows 09:00 – 17:00 Same day D+0
Foreign Exchange Trading 09:00 – 17:00 Same day D+0