Can a foreigner open a bank account in Montenegro? Yes. Every consumer lawfully staying in Montenegro is entitled to a payment account with basic features, and discrimination on grounds of nationality and place of residence is prohibited.
Local searches show what people want to know about bank accounts: "otvaranje racuna u banci za strance" (opening a bank account for foreigners) is completed with country names, and for Montenegro people also search "otvaranje racuna online crna gora" (opening an account online in Montenegro) and "otvaranje deviznog racuna crna gora" (opening a foreign currency account in Montenegro). In Russian people search "открыть счет в черногории без внж" (open an account in Montenegro without a residence permit), and in English "open bank account montenegro non resident". The answer to who is entitled to an account comes from the Law on Comparability of Fees Related to Consumer Payment Accounts, Switching of Consumer Payment Accounts and Payment Accounts with Basic Features.
This article explains who is entitled to a payment account with basic features, how quickly the bank must answer, when it may or must refuse, what the account covers, what applies to fees and when the bank can terminate the contract.
Who is entitled to a basic account
The right to open and use a payment account with basic features belongs to a consumer who is lawfully staying in Montenegro, regardless of where in Montenegro they stay. The law expressly includes a consumer without a fixed address, an asylum seeker and a consumer who has not received a residence permit but whose expulsion is impossible for legal or factual reasons. When an account is opened for a consumer lawfully staying in Montenegro, discrimination is prohibited, among other things on grounds of nationality, place of residence and language.
The Law on Foreigners distinguishes three types of stay: stay of up to 90 days, temporary residence and permanent residence. Unlawful stay is the stay of a foreigner who does not or no longer meets the conditions for entry and stay. If you have just moved, the order of steps from registering your stay to a permit is in our article on the first 90 days in Montenegro.
Since the May 2026 amendments, all banks headquartered in Montenegro must open and maintain basic accounts; banks had 90 days to comply. Until then the obligation applied only to banks with total assets above 500 million euros.
Deadline and refusal
| Rule | What it means |
| Deadline | The bank opens the account or refuses the request without delay, and at the latest within ten working days of receiving a complete request |
| Mandatory refusal | If opening the account would breach anti money laundering and counter terrorist financing rules |
| Possible refusal | If the consumer already has an account in Montenegro offering the same basic services |
| Check | The bank may check whether you hold an account at another bank or accept a written statement that you do not or that it will be closed |
| Notice of refusal | In writing, free of charge, with reasons, unless that would be contrary to security, the public interest or money laundering rules, and with information on out of court dispute resolution |
| No tying | The bank may not make opening the account conditional on buying additional services |
What a basic account covers
- Opening, maintaining and closing the account.
- Cash deposits into the account and cash withdrawals at the counter or an ATM, also outside the bank's working hours.
- Direct debits, card payments including online payments, and credit transfers including standing orders, at terminals, counters and online where the bank offers them.
- An unlimited number of transactions, in euros, with no overdraft: the bank may not allow spending above the available balance.
The bank may not offer these services to a lesser extent than with its other accounts.
Fees
For basic services the bank may charge only fees under its usual pricing policy, and no more than it charges holders of other accounts. It provides the services free of charge or for a reasonable fee, taking into account the average net wage in Montenegro and the average fees banks charge for the same service. Consumers in a vulnerable group, for example recipients of the minimum wage, social assistance or the lowest pension, get opening, maintenance, deposits, withdrawals and the first ten domestic transactions each month free of charge.
The bank may not charge a fee when it refuses a transaction because of insufficient funds on the basic account. It must publish its tariff in its branches and on its website. A comparison of all banks' fees, including the basic account, is published by the Central Bank of Montenegro.
When the bank can terminate the contract
| Reason | Notice |
| The account was deliberately used for unlawful purposes | Termination takes effect on delivery of the notice |
| The right was obtained on the basis of incorrect information | Termination takes effect on delivery of the notice |
| No transaction for more than 24 consecutive months | At least two months in advance, in writing and free of charge |
| The consumer is no longer lawfully staying in Montenegro | At least two months in advance, in writing and free of charge |
| The consumer later opened another account with the same services | At least two months in advance, in writing and free of charge |
The same law also regulates switching an account to another bank: the new bank starts the process on the consumer's written authorisation, and the account number is not transferred.
Why an account matters when buying property
An account in Montenegro makes it easier to pay rent, utilities and a purchase price. What a whole purchase looks like is explained in our guide to buying property, and the contract in our article on the notary purchase contract. You can find flats to buy or rent in our real estate category.
Short checklist
| Question | Answer |
| Do I need Montenegrin citizenship? | No, the law requires lawful stay in Montenegro |
| Which bank must open a basic account? | Since May 2026, every bank headquartered in Montenegro |
| How long is the wait? | At most ten working days from a complete request |
| May the bank require me to take other services? | No |
| Where can I compare fees? | On the Central Bank's website |
Frequently asked questions
Can I open an account without a residence permit? The law ties the right to lawful stay, and the Law on Foreigners counts stay of up to 90 days among the types of stay. The bank must still refuse the request if opening the account would breach anti money laundering rules.
How quickly must the bank open the account? Without delay, and at the latest within ten working days of receiving a complete request.
Can the bank refuse the request? It must, if opening the account would breach anti money laundering rules. It may, if you already have an account in Montenegro with the same basic services. You receive the refusal in writing and free of charge.
How much does a basic account cost? The bank sets the fees, but no higher than it charges holders of other accounts, and at a reasonable level. The Central Bank publishes a comparison.
What if I stop staying in Montenegro? The bank can terminate the basic account contract, with written notice at least two months in advance.
Sources
The right to a payment account with basic features, deadlines, refusal, features, fees and termination are governed by the Law on Comparability of Fees Related to Consumer Payment Accounts, Switching of Consumer Payment Accounts and Payment Accounts with Basic Features (Official Gazette of Montenegro 145/2021 and 70/2026, articles 3, 16 to 18 and 25 to 31), and types of stay and unlawful stay by the Law on Foreigners (Official Gazette of Montenegro 12/2018, 3/2019, 86/2022, 77/2024, 3/2026 and 33/2026, articles 33, 34 and 104). Fijaka is a listings platform and gives neither legal nor financial advice; check the conditions for opening an account with the bank.