SEPA SCT payment scheme

We are pleased to inform you that Mirabank a.d. joined the SEPA (Single Euro Payments Area), marking an important step toward enhancing the quality and efficiency of our services.

Following the Republic of Serbia’s official accession to the Single Euro Payments Area in May 2025, our Bank has fully aligned its operations with all technical, security, and operational standards required for equal participation in the SEPA framework.

This advancement reflects our commitment to providing you with modern, reliable, and user-friendly solutions for your everyday financial needs. The entire process has been designed to ensure maximum simplicity and security for our clients, through the use of the standardized IBAN format and the highest European data protection protocols.

By joining SEPA, you benefit from:

• Faster execution of international euro transfers – payments in euros to SEPA countries are processed on the same day for orders submitted within the timeframes defined in the Bank order receipt time.
• Lower transaction costs compared to traditional international transfers – fees are more favorable than under the previous model, and there are no charges from intermediary (correspondent) banks. Funds received via the SEPA scheme are credited to your account immediately, without waiting for client confirmation of the payment purpose code.
• Greater transparency and predictability of costs – SEPA payments are executed exclusively in euros and require the recipient’s IBAN, while entering a BIC/SWIFT code is not necessary. An additional requirement is that the recipient’s bank participates in the SEPA Credit Transfer scheme. Transactions that meet these conditions will automatically be processed as SEPA payments. The SHARED (SHA) fee option applies, meaning each party covers the fees of their own bank, while the recipient’s account is credited with the full transferred amount.
• A simpler and standardized payment process in line with European standards – at the same time, clients’ obligations related to foreign exchange operations remain unchanged. This means you are still required to declare the purpose of incoming funds on the same day, or no later than the next business day, and to submit supporting documentation when required. Failure to comply with these obligations may result in the Bank notifying the National Bank of Serbia, which could lead to an audit of your foreign exchange operations.

What remains unchanged is that all payments outside the SEPA area, as well as payments in other currencies, will continue to be processed via the SWIFT network and correspondent banks. Payment orders can still be submitted through electronic banking or in paper form, and the obligation to provide supporting documentation remains in force for all transactions where it was previously required, whether for payments or incoming funds.

For any additional information regarding SEPA payments and how to use them, you can visit us at the Mirabank a.d. branch located at Španskih boraca 1, 11070 Novi Beograd, or contact us by phone at +381 11 63 55 400.

We believe these benefits will further enhance your experience with our Bank and enable you to manage your finances more efficiently.