BANKS WILL NOT CHANGE THE MAXIMUM CHECK AMOUNT OF 5,000 DINARS

27. March 2018.

Belgrade – Banks will not change the maximum amount on checks of 5,000 dinars. It has been over ten years since the last change in check limits, when the "bottom line" of 150 dinars was raised to 200 dinars, and the amount increased from three to five thousand dinars. Banks in Serbia do not intend to change the maximum check amount of 5,000 dinars.

The intention of the National Bank of Serbia (NBS) and the country’s banking sector is to make checks the thing of the past and to increase the use of credit cards, which is confirmed by the fact that from year to year there are fewer and fewer of those who use checks, which used to be one of the most popular "payment cards."

Of the countries formed from the former Yugoslav republics, the practice of issuing limited checks, by which banks guarantee payment, continued only Serbia, while the banks in all the former republics ceased to issue guaranteed checks. The most numerous “signatories” of checks are still manual workers with minimum wages and pensioners with the lowest incomes, more than half a million of them, for whom the postponement of payment, sometimes up to a year, remains as the only way to plan small household budgets.

Source: RTV Rhythm and Coordination Body