Hello to all expats,

I have a question about the banking system of Montenegro; which bank has the lowest fees for transactions; which bank do you advise to work with? That would be great if you can share any table which shows expense and interest rates of the banks.

Thanks in advance and all the best from Antalya

Hi Zelce
             I am with the Erste Bank and some of the rates that are charged can be quite high for example if you are withdrawing money from a different bank machine the fee is 5% on whatever amount is withdrawn ,but if you use their machine the fees are low.
They charge €12 a month if you want to use internet banking.They have a full list of their charges available in English and you can get a copy of this at one of their branches I am not sure what rates the other banks charge but i am sure some other people on the expat site will be able to give you more information.

Dear Kumbor,

Many thanks for your return an sharing the information with me. 12 Euros/month is quite high I guess. In Turkey a big part of the banks are charging app 20 Euros/year as a maintenance fee and some of them do not charge any. I hope also other expats can share their opinion and experiences with me.  Within March I will be visiting my home and planning to open an account.

Kind regards,

Hi Zelce yes I agree with you about the fees for banking being quite expensive and several months I posted an issue on the expat site about the costs of withdrawing money from a machine from a different bank machine.It would be nice if more people would put up posts on this .Let me know how it works out for you.

Re; banking fees
correction of bank charges for Erste Bank.The monthly charge for internet banking is €2 and I had posted that it was €12  a month.There is also a 75 cent handling fee.

Than app 14-15 Euros per month as maintenance fee which is quite expensive I guess. Still searching for the bank expenses, Planning to open an account on my next trip to Montenegro. We will see :)

Hi Zelce sorry for the mistake the total cost per month is €2.75. this covers internet banking as well as maintaining the account .I would suggest going on the internet and you can check out all the banks and their fees .I went with Erste Bank because they are based in a lot of other European countries .

Dear Kumbor,

Many thanks for the information and the confirmation; really appreciated. Will check that out with their web site and hopefully will sort it out. It seems only you and I are interested in with this issue :)

Kind Regards,

Hi Zelce & Kumbor, actually your question was very helpful for me as well. I am also going to decide about the Bank for account opening. I already opened a company  account in Hypotekarna Bank but I am not very pleased with how they handle the customers, therefore Erste will be an alternate for me as well.


Good morning expats,

I decided to open the account at one of Danilovgrad baks hence chosen Societe Generale. But when I went to branch; they get asked for my passport copy (that's OK), the copy of my house registration and also my payroll (!!!). I requested from my office and thank to them even they did not understand why the bank is asking for that but still send to me. When I have all the papers the branch said that they have to ask to the head office. May be I could not expalin my self; maybe they thought as I want to buy suarez from the bank 😁
By the way, when I was walking around to find a place for lunch saw Prva bank. Asked to them what they need to open a saving/deposit account; they asked for just my ID and opened the account in a fee minutes.  During the saving account period there will be no fee and the account will be renewed automatically if I do not touch.
So, Prva bank chosen 🤗

Noted Zelce Thank you

Hi Zelce
             I am happy you got sorted out with a bank account .As far as I know socite General is an insurance company and not a bank .I would recommend to any one else to look up Wikipedia and check out banks in Montenegro they will give you a full list .I would also recommend that if you are having trouble with doing any official business and the person you are dealing with does not understand you to try and get a local person who can help you with translation.I know this is not always possible .I have found that there are times that you need someone .I  found that most people working in the Bank can speak English.

Hi Kumbor,

Societe General Bank also has banking facilities; such a pity we could not work with but at least as you said the issue sorted out.  I bought a dual sim mobile phone and bought a prepaid local phone line in October; with this way have internet during my trips and also able to use Whatsapp app for both lines which means I am always in touch with related parties. Thank to Google Translate which is as a life ring for me within the worst case but also some Montenegrin people can speak English and they are quite helpful.

Planning to come again in August for a week time; if we meet somewhere at Montenegro drinks on me to say thanks for all your helps.

All the best,

Hi Zelce thanks for the reply yes I agree with you goggle translate is a great .It's great to have internet also and in the last year this has improved in my location with fibre and I am sure as time goes by this service I am looking forward to going to Montenegro myself in April and if I am every up your way I will give you a call or if you are ever near Herceg Novi give me a call.

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