Banking and bank accounts 2020-02-23T00:53:15+01:00
WTS Beograd

Banking and bank accounts

Why banking in Serbia

Serbian banking system has lots of benefit, being that Serbia is on direct crossroad from West Europe to Turkey and far on to the middle east.

Documentation and procedures

Documentation for opening bank accounts in Serbia is very simple, it consists of:

Serbian banking system in general

The National bank of Serbia is the central bank of the country. Founded in 1884, the NBS aims to achieve and maintain price stability, and formulates and implements monetary policies. It also manages foreign exchange services and supervises financial institutions and banks in Serbia.

Serbian banking system has lots of benefits, being that Serbia is on direct crossroad from West Europe to Turkey and far on to the Middle East. At end-March 2018, the Serbian banking sector numbered 29 banks, which is unchanged relative to end-2017. The organisational network consisted of 1,633 business units and employed a total of 23,095 persons. Banks could be divided in seven groups Local, EU, Russian, America, Turkish, Dubai and one Chinese bank. This gives us clients a freedom of choice and it guaranties good conditions because of the competition in the banking market.

It is not widely known that after the collapse of Yugoslavia, it’s main successors Serbia, paid up all savings deposits in foreign currency in banks owed by the government. This unique act was not recorded anywhere in old Easter block.

Since Yugoslavia was one of the leaders in area of International trade, many bankers obtained practical knowledge in banking trade operations between Easter and Western worlds. Main business of banks in Serbia are commercial operations and such clients are highly welcome. The best thing is that you get premium service for a fraction of a fee that you will pay in most banks in European Union.

State deposit insurance agency:

“The deposit insurance system provides for a guarantee that every depositor shall be reimbursed for its total RSD and/or claims in foreign currencies arising out of the savings deposit, current account and other bank accounts, held with every bank, up to EUR 50,000 (insured amount – coverage level), regardless of the number of accounts of the individual depositor opened with the particular bank”

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Frequently asked questions

Which Banks can be used to open a bank account? 2018-10-17T23:12:42+01:00

UniCredit, Intesa, Raiffeisen, Erste Bank, AIK etc.

Do these Banks have a branch office in other countries? 2018-10-17T23:10:22+01:00

All Banks listed have a branch office in other countries, except AIK Bank which is a domestic Serbian Bank.

Is there any possibility for opening a bank account in Serbia? 2018-10-17T23:08:54+01:00

For Serbian branch office of a foreign company, which does not have legal entity in Serbia, opening a bank account is possible. However bank compliance is still necessary.

Opening a bank account for company registered in Serbia is straightforward.

For a foreign company opening a bank account, this will depend upon the jurisdiction of the company. This is difficult to do worldwide, so we cannot give a guarantee that a Serbian Bank will open an account. For a company from the EU opening a Bank account is easier to do and has a greater chance of success.

Is there a personal presence needed to open a bank account? If so, for which customers and which representatives of the company should appear? 2018-10-17T23:06:36+01:00

We can open all accounts with notarized power of attorney. The client must be present for personal account openings.

What types of accounts can I open? 2018-10-17T23:04:58+01:00

All accounts are general-purpose accounts.

What is the opening deposit? 2018-10-17T23:04:01+01:00

No initial deposit is required.

What are the costs of incoming and outgoing payments, including urgent and internal payments? 2018-10-17T23:02:47+01:00

Up to 0.2% with a max of 200 euros for one payment.

What are the deadlines for payments? 2018-10-17T23:01:50+01:00

1-2 days.

Is it possible to receive cash from the company’s accounts? 2018-10-17T23:01:07+01:00

There is a possibility, but the transaction must be justified.

What language is used for e-banking service? 2018-10-17T23:00:11+01:00

E-banking service is in English.

“Never in my life I have experienced prompt service of this kind. Company and account in 15 days. And remotely!”

52-year-old Chinese businessman, owner of marketing companies operating in EU and non-EU jurisdictions