Montenegro - Country Commercial Guide
Trade Financing

It covers payment methods and information on, banking systems, foreign exchange controls, and U.S. and correspondent banking.

Last published date: 2021-10-06

Methods of Payment

Large importers regularly receive goods under short-term supplier credits that average about three months.  Longer-term financing may be sought for larger purchases but is more difficult to obtain.  The following instruments are used in Montenegro for payments abroad: remittances, documentary collections, checks, and letters of credit.

Foreign Exchange Controls

There are no currency or payment restrictions related to the use of the Euro in Montenegro.

US Banks & Local Correspondent Banks

There are no U.S. bank affiliates in Montenegro.  The Addiko Bank has some U.S. ownership in its structure through the Advent International.  Several banks in Montenegro (currently CKB, Erste Bank, NLB, ,  Hipotekarna Bank and Addiko bank) have a correspondent relationship with U.S. banks.  In 2014, Citibank was one of three banks that underwrote Montenegro’s first and second tranches of public debt financing through the issuance of 500 million euros in Euro bonds.