Major Banks in Serbia: A Comprehensive Guide for Expats and Tourists
Whether you're considering international relocation to Serbia or are a local resident looking for the best financial services, understanding the banking landscape is crucial. Serbia is home to 20 licensed commercial banks as of February 2024, each offering a range of services tailored to both foreign and domestic clients. Here's a detailed overview of major banks in Serbia, including their unique features, interest rates, and options for money transfers.
Foreign and Domestic Banks with Specific Features
Foreign and Domestic Banks with Specific Features
Foreign Banks in Serbia
Banca Intesa - Originally an Italian bank, Banca Intesa is one of the largest banks in Serbia, headquartered in Belgrade. It boasts assets totaling €7,030 million and offers comprehensive relocation support services for those moving to Serbia.
Raiffeisen Banka - With Austrian roots, Raiffeisen Banka operates extensively in Serbia, holding assets worth €4,552 million. It provides robust financial solutions for both personal and business needs.
Erste Bank - This Austrian bank has a significant presence in Serbia with assets totaling €3,004 million. Based in Novi Sad, Erste Bank is known for its strong customer service and financial products.
UniCredit Bank Serbia - A branch of the Italian UniCredit Group, this bank has assets of €4,968 million and is headquartered in Belgrade. It is well-regarded for its extensive range of banking services.
OTP Banka Srbija - Originating from Hungary, OTP Banka has substantial assets (€6,342 million) and operates mainly out of Novi Sad. It offers competitive rates and services for various banking needs.
Banca Intesa - Originally an Italian bank, Banca Intesa is one of the largest banks in Serbia, headquartered in Belgrade. It boasts assets totaling €7,030 million and offers comprehensive relocation support services for those moving to Serbia.
Raiffeisen Banka - With Austrian roots, Raiffeisen Banka operates extensively in Serbia, holding assets worth €4,552 million. It provides robust financial solutions for both personal and business needs.
Erste Bank - This Austrian bank has a significant presence in Serbia with assets totaling €3,004 million. Based in Novi Sad, Erste Bank is known for its strong customer service and financial products.
UniCredit Bank Serbia - A branch of the Italian UniCredit Group, this bank has assets of €4,968 million and is headquartered in Belgrade. It is well-regarded for its extensive range of banking services.
OTP Banka Srbija - Originating from Hungary, OTP Banka has substantial assets (€6,342 million) and operates mainly out of Novi Sad. It offers competitive rates and services for various banking needs.
Domestic Banks
Banka Poštanska štedionica - Known for its extensive branch network, this Serbian bank offers a range of services suitable for both locals and expats.
Mirabank - Another notable domestic bank, Mirabank is known for its personalized customer service and diverse banking products.
Banka Poštanska štedionica - Known for its extensive branch network, this Serbian bank offers a range of services suitable for both locals and expats.
Mirabank - Another notable domestic bank, Mirabank is known for its personalized customer service and diverse banking products.
Best Banks for Personal Accounts and Savings
Best Banks for Personal Accounts and Savings
When choosing a bank for personal accounts or savings in Serbia, consider the following options:
Banca Intesa Serbia - Offers competitive interest rates on savings accounts, typically around 3-4% depending on terms and conditions in RSD (Serbian dinars), with slightly lower rates for EUR and USD.
Raiffeisen Bank Serbia - Known for its customer-focused services and competitive savings account rates.
UniCredit Bank Serbia - Provides a range of savings products with attractive interest rates.
NLB Komercijalna banka - Offers various savings accounts and financial products.
Erste Bank Serbia - Provides solid savings options with competitive rates.
OTP Banka Serbia - Known for its strong financial services and savings account options.
Money Transfer and Account Linking Options
Money Transfer and Account Linking Options
International Money Transfers
For international relocation to Serbia, many banks offer efficient services for transferring money across borders and linking foreign accounts:
- Banca Intesa, Raiffeisen Banka, and UniCredit Bank Serbia are particularly well-regarded for their international money transfer services.
Bank Transfers (SWIFT)
- Pros: Secure, suitable for large amounts, and directly transfers funds to the recipient’s account.
- Cons: Relatively slow (2-5 business days), high fees, and potentially unfavorable exchange rates.
Online Money Transfer Services
- Examples: Wise, Revolut, PayPal, Western Union, MoneyGram, Remitly, WorldRemit.
- Pros: Competitive exchange rates, lower fees, faster transfer times (from a few minutes to a couple of days), and convenient online and app-based transfers.
- Cons: Limits on the amount that can be sent, not all services are available in every country, and additional verification steps.
Cryptocurrency Transfers
- Pros: Lower fees than traditional bank transfers, fast transaction speeds (usually within minutes), and unaffected by banking hours or holidays.
- Cons: Requires knowledge of cryptocurrency wallets, volatility in prices, and varying acceptance in financial institutions.
Relocation Guide: More Than Just Banking
Relocation Guide: More Than Just Banking
For a thorough understanding of moving to Serbia, including in-depth information on banking solutions, legal matters, cultural integrations, and more, stay tuned for our upcoming Relocation Serbia Guide.
You can request more details and be added to our mailing list by emailing support@relocationserbia.com.
Whether you're relocating to Serbia for work, investing in Serbian real estate, or simply moving your family, having a comprehensive overview of the banking options available will help streamline your transition. From opening a Serbian bank account to navigating Serbian residency application processes, our guide will cover everything you need to know.
Stay informed and prepared with our expert insights into Serbia relocation services, Serbian citizenship programs, and the vibrant expat community in Serbia.
Happy relocating!