A personal non-resident bank account in Montenegro can give you access to various opportunities and privileges. This is suited for international entrepreneurs, digital nomads, and anyone else seeking an account as a non-resident in a European jurisdiction within SEPA. Plus, we are here to help you set up an account remotely, with our support.
Benefits of the Montenegro Personal Bank Account for Foreigners
The bank in Montenegro recommended by our offshore banking experts is a multi-purpose bank. The Montenegro bank offers its clients a great choice of products and both conventional and more exciting banking services!
The bank is rather special compared to other financial institutions. Why? It ensures an individual approach to every customer, considering their requests and priorities, providing customized service. Basically, this gives it a “private banking” feel even on smaller accounts.
Having opened a personal account with the bank in Montenegro, non-resident customers will receive an offshore toolkit allowing them to control their own money and other assets online easily and efficiently. Here is the list of services available to the customers:
- E-banking;
- Domestic and international transfers in different currencies;
- Loans/deposits;
- Debit cards;
- Currency exchange;
- Investment account;
- FX transactions;
- SWIFT system payments;
- English-speaking support;
- Escrow accounts.
Discuss the details with an expert
Check the list of required documents, and get the details of the process, terms, and costs.
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How Can I Open a Personal Bank Account in Montenegro?
You’ll be happy to hear that the bank does not impose any strict requirements on its customers, beyond normal international KYC standards. No initial deposit or minimum balance is required. It is sufficient to meet the standard legal requirements of the bank, provide a complete set of documents, and pass the identity verification procedure.
Restrictions on opening a personal bank account in Montenegro
There are difficulties in obtaining approval to open a personal non-resident bank account in Montenegro for clients from a number of countries, including the obvious ones like DPRK, Sudan, but also more surprising countries like Brunei, Costa Rica, the countries of the Caribbean, and British dependent territories. If in doubt, contact us for a full list of restricted countries, as it is often subject to change.
Important note: Please request a full list of restricted jurisdictions from our experts.
Types of accounts:
- Personal current or checking account;
- Deposit account;
- Debit card account;
- Investment account.
If you represent a company, please request our offer on opening a business account in Montenegro.
Customers receive MasterCard Standard Debit cards issued by the bank in Montenegro. It is a multi-currency card linked to your bank account. It allows you to freely access your money in any currency at any time. Non-residents have special current accounts to which their payment cards are linked, so in case your card is stolen or compromised, your main nest-egg is still safely protected.
The main currencies of Montenegro payment cards are the euro (EUR) or the U.S. Dollar (USD). Using your debit card, you can make contactless payments, withdraw cash from ATMs, and of course pay for goods and services at the sales outlets, overseas included.
The bank also offers debit card holders a convenient service of setting a “no limit” on the card. When the card is issued, a separate sub-account is opened for cash transactions on the debit card only. The card limit, if any, is set by the cardholder.
Currencies
The bank maintains operating accounts in the currency officially used in Montenegro, which is the euro, as well as U.S. dollars, Ukrainian hryvnias, among others.
Rates
| Fees, EUR | Non-Residents |
| Account opening | 540 |
| Additional account opening | 50 |
| Account maintenance starting from the 7th month | 15 |
| Current account closing | 0 |
| Additional account maintenance (monthly) | 10 |
Important note: the above mentioned rates are subject to change. Please request a quotation from our experts.
Investment services to foreigners in Montenegro
Foreign clients, having opened a personal account with a bank in Montenegro, can also count on the availability of investment services. Bank customers benefit from personalized private banking services.
Procedure for opening a Montenegro personal account
To open a personal account with this Montenegro bank, non-residents will need to fill out the bank forms and prepare a set of documents required by the bank. Identity verification is carried out during a personal visit to one of the branches in Montenegro or abroad. Alternatively, it is possible to open an account via video conferencing.
The set of documents required by the bank includes the following:
- A copy of your passport. The original may be presented at the time of your identity verification and the interview with the bank representative. Alternatively, it is also possible to sign the forms and get identified during a video conference.
- Copy of your national ID card.
- Information on your current residential address.
- Bank statements from other banks for the last 6 to 12 months.
- Documents confirming the source of your wealth and funds that will be transferred to your Montenegro account.
- Resume (CV) in English with your contact details: cell phone and email. If you own any companies or businesses, this should also be specified.
What should a non-resident do to open a personal account in Montenegro?
Please request this service by emailing us at in**@***********rt.com or via any messenger specified on top of the page. Please write “Montenegro Personal Account” in your subject line.
Please choose the most convenient payment method and pay for our services.
Prepare your documents and get ready for the online or personal account opening meeting. Don’t worry, our experts will of course be supporting you at every stage. Our assistance will make this procedure smooth and easy for you.
Important note: You will need to have at least two conference calls with a bank representative. The first one will take place after the bank gets the basic information about you as a potential customer. The second call must be a video call will be organized upon submission of the complete set of documents. During this call, the bank forms will be signed and your identity verification will be performed.
Here are some details of the online identity verification:
- If you choose remote identity verification during the first conference call, you will need to show your original passport and, if relevant, also an original national ID. At the same time, since the customer identity verification is not done in person, it will be necessary to send a notarized and apostilled copy of your passport to the bank (except for the countries where an apostille is not required – contact us for details). We can assist you with certification of documents by apostille for an extra fee, or you can arrange to do it locally.
- In addition to customer identity verification, you will be given bank forms that you should print out in advance of the call, to be signed during the second video conference call.
Ready to get started and enjoy a personal bank account based in a stable jurisdiction in Europe? Get in touch with us.
Should you have any questions regarding opening a Montenegro bank account, please feel free to email us at in**@***********rt.com.
10 February 2021 