Montenegro to limit Sepa charges and extend RTGS times
Central bank says caps on fees will save its citizens €13.9 million a year
The Central Bank of Montenegro has said it will limit banks’ charges for payments made from the Single European Payments Area (Sepa).
The central bank announced the move on July 9 and said it was likely to result in savings of €13.9 million ($16.3 million) each year for Montenegro – a country with a large diaspora, whose remittance payments make up a significant portion of foreign exchange inflows.
From October 6, banks will not be able to charge more than €0.02 for the first daily transfer by a
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