Personal Bank Account For Non-Residents – Simplified and Hassle-Free
Discover the benefits of Serbia’s dynamic banking system, strategically positioned at the crossroads of Western Europe, Turkey, and the Middle East. For non-residents, opening a personal bank account in Serbia offers access to a wide range of financial services tailored to meet your needs.
Why Open a Bank Account in Serbia?
A Serbian bank account provides more than just a place to store your money—it’s a gateway to professional financial consultations, investment opportunities in local and international markets, and optimized financial management. Whether you’re managing personal finances, receiving a salary, or exploring investment avenues, Serbia’s banks are equipped to support you.
How We Make It Easy for You
Opening a bank account in Serbia as a foreign national requires a personal visit and compliance with specific requirements. Our team is here to simplify the process every step of the way. We will:
- Accompany you to the bank.
- Assist in completing forms and preparing necessary documentation.
- Provide personalized advice based on your unique financial goals.
Each case is unique, and we work with multiple banks to find the perfect match for your needs. No one-size-fits-all solutions—just customized support tailored to you.
Track Your Process Online
Our clients receive access to a personal online account where you can:
- Monitor the status of your application.
- Upload required documents.
- Receive detailed updates and statements.
The Process of Opening a Bank Account
As a non-resident, you’ll need to visit Serbia to initiate the account-opening process. Here’s what to expect:
- Initial Application – Submit your request and required documents at the bank. Approval typically takes a few days.
- Account Activation – Once approved, visit the bank to sign the necessary paperwork. Your account will be active on the same day.
- Card Issuance – Your chosen cards (Dina, Mastercard, or Visa) will be issued within a few days, providing seamless access to your funds locally and internationally.
Transparent Fees and Competitive Rates
Serbian banks are known for their low fees and competitive rates:
- Transaction Fees: As low as 0.4% (minimum 5 EUR) for international transfers.
- Maintenance Fees: Local currency accounts range from 5–10 EUR/month, while foreign currency accounts often have no maintenance fees.
Start Your Journey Today
At Polako.in, we’re dedicated to making your financial transition to Serbia smooth and stress-free. Let us handle the complexities while you enjoy the benefits of Serbia’s robust banking system.
Contact us now to get started on opening your Serbian bank account!
Documentation for opening bank accounts
Features, Differences, Tips, Pitfalls, and the Best Serbian Banks for Non-Residents
Frequently Asked Questions About Opening a Bank Account
Is it possible to open an account as individual person (not a company) and can you assist with this as well?
It is possible to open an account as individual person and we do provide assistance with this.
There are two ways of handling the account opening procedure in case of individuals:
1. with the personal presence of the client in Serbia
2. without the personal presence of the client, when we act based on power of attorney verified and sent by client.
How long does it take to open an account?
In case of individuals, opening process takes around 4 days, while card issuance additional 7-10 days.
In what currencies can I open the bank account?
You can open an account in RSD, USD, EUR, CHF, TRY, RUB, GBP, CAD, DKK, JPY, SEK.
Do banks in Serbia work through SWIFT?
Yes, banks in Serbia support the SWIFT payment system.
How can I manage my non-resident bank account?
There is no need to worry, as you can manage your bank account from anywhere in the world. Namely, the bank can issue debit cards, Visa, Master Card or DINA Card, which you can use at any convenient ATM, as well as for payment.
Serbian banks also offer online banking and mobile banking, with which your access to the account is always at your disposal.
You can always transfer money from the non-resident bank account to your other bank accounts in Serbia or any foreign country.
Is it illegal to have an offshore/foreign bank account?
Having a non-resident bank account is legal in Serbia, however, the repercussions are carried by the client, and they differ from country to country, depending on the regulations in each foreign state.
Furthermore, whether your country will be notified of the fact that you have a non-resident account opened in Serbia and what other information it expects regarding the account activity depends on the foreign country in question.
For that matter, Serbia is a member of the Egmont group, and participates in the activities of the Eurasian group for the prevention of money laundering. The activities in these bodies imply general cooperation and commitment to preventing money laundering within their members.
On the other hand, Serbia has the most specific cooperation with the US, given the fact that the two countries entered the bilateral treaty regarding the recognition of the FATCA regulations in Serbia.
As a country striving to become a member of the European Union and a member of the European Council and its Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, over the years, the Republic of Serbia has adopted several regulations on the foreign currency transactions, international transfers among which the most important one is the Law on the Prevention of Money Laundering and the Financing of Terrorism. Under this Law, apart from keeping the data on their clients, the information on the bank account beneficiary and transaction activities are also kept for 10 years.
Despite the different requirements and obstacles that can be found on the way to a non-resident account in Serbia, the fact is that more and more people are choosing this option.
Is there a minimum deposit in the bank account?
There is no minimum deposit in Serbian banks.
Is it possible to transfer money from Serbia to Russia or is there a risk that these transfers will be blocked because of the sanctions?
Bearing in mind the current situation regarding sanctions, transactions from Serbia to Russia (and vice versa) are possible mostly in RUB and EUR currency. We recommend our clients not to transfer funds in USD.
Are there currently any sanctions in force against Russia, Russian companies or individuals limiting them to open bank accounts?
Serbia as a country has not introduced any type of sanctions toward Russia, Russian companies or individuals, however majority of banks operating in Serbia are extension of EU banks, which despite lack of sanctions will follow guidelines dictated by their country of origin. Luckily several banks without EU origin here do accept Russian clients, most notably API Bank and Expo Bank.
Is Serbia in the CRS system?
No, Serbia is not a part of the CRS system.
Is it possible to open a merchant account in Serbia?
Yes, it is possible.