Banks in Macedonia

The banking system in North Macedonia operates under the Banking Law and the Law on Payment Services and Payment Systems. The National Bank of the Republic of North Macedonia, Народна банка на Република Северна Македонија (NBRNM), supervises licensed banks, foreign-bank branches, savings houses (штедилница) and payment-service providers. The Ministry of Finance publishes financial-system laws. The Development Bank of North Macedonia AD Skopje is a state-owned development and export bank focused mainly on support for small and medium-sized businesses and exports. NBRNM's current licence roster should be checked before opening an account or using a provider. A payment account, also called a transaction account, allows account holders to receive and send money, withdraw or deposit cash and use cards or electronic banking where the provider offers those services. A resident or non-resident may request a payment account, but the provider must identify the applicant and any representative under anti-money-laundering and counter-terrorist-financing rules. The application normally includes a signature specimen unless the parties agree on another authentication method. Signatures are deposited before an authorised provider official or notarised. A provider may request additional documents under its internal rules and must explain those requirements in advance. Remote opening may be limited to electronic payment initiation and may not require a signature specimen. A resident natural person generally cannot hold another MKD or foreign-currency payment account with a provider when the person already has the corresponding account. A change in resident status must be reported to the provider so the account information can be updated. Non-resident customers depositing foreign-currency cash may normally need confirmation from the Customs Administration for cash, foreign currency or cheques. The confirmation can be reused within five working days and is valid for five business days. Exceptions include amounts below the declaration threshold and certain funds previously withdrawn from the customer's own account within three months, as well as specified airline-related proceeds and documents. A payment account with basic features is available to consumers with permanent or temporary residence, asylum seekers and certain applicants whose temporary residence was rejected but who cannot leave because of legal or practical non-refoulement constraints. People relying on specific legal rights must submit a written declaration and proof of the qualifying right. The account includes maintenance, cash deposits and withdrawals through the bank or provider network and ATMs, unlimited debit-card payments, and at least five monthly credit transfers, standing orders or direct debits to accounts at the same bank or savings house. Listed services are free for vulnerable users and users who qualify through the specified legal rights. For other users, the fee for the covered services may not exceed 0.1% of the average paid net wage during the preceding 12 months. Providers must give pre-contractual and contractual information and disclose their tariffs. NBRNM identifies 11 most-representative payment-account services, receives fee-information documents for basic-features accounts, legal-rights basic accounts, MKD accounts and foreign-currency accounts, and provides a fee-comparison tool. A provider must give a fee statement at least once a year. Fees and service conditions still vary between providers, so compare the tariff, account currency, card and ATM charges, electronic-banking conditions and cash-access options. Payment transactions normally require the account holder's order or prior consent, including for standing orders and direct debits. Enforced collection is an exception. Providers execute valid orders fully and chronologically. If the recipient account is closed or does not exist, the recipient's provider returns the unexecuted amount by the end of the next business day after receiving the funds; an actual-cost fee may apply. Credit transfers and payment cards are the dominant payment instruments. MIPS, the Macedonian Interbank Payment System, and KIBS, Clearing Interbank Systems AD Skopje, support interbank payments. KIBS was licensed on 17 September 2025 for an instant MKD credit-transfer system. Deposit insurance applies to mandatory members of the Deposit Insurance Fund, Фонд за осигурување на депозити (FOD or DIF), including banks, foreign-bank branches and savings houses. Covered deposits include MKD and foreign-currency deposits, certificates of deposit, transaction accounts, card-linked deposits and certain foreign-currency inflows belonging to natural persons who are residents or non-residents. All covered deposits belonging to one natural person are aggregated at each institution. The maximum coverage is EUR 30,000 in MKD equivalent per depositor, per bank, foreign-bank branch or savings house. The calculation includes principal and agreed or accrued interest, as well as unaccrued interest through the decision triggering the risk event. Foreign-currency amounts are converted using the NBRNM middle rate on the final licence-revocation decision. Any excess claim is pursued in the institution's liquidation or bankruptcy estate. Legal-entity deposits are not currently covered according to the FOD profile. After a final NBRNM Governor decision triggering a risk event, FOD begins reimbursement within 20 days and may receive an exceptional extension of up to 10 days. The available procedure does not evidence a separate depositor application requirement beyond identification and updating personal data when required. Deposit insurance does not automatically cover balances held with a payment institution or electronic-money institution, so confirm both the provider's licence and whether the balance is a deposit held by an FOD member. Banks and payment providers must maintain fraud-prevention, incident-reporting, technical-support and complaint procedures. Keep personal data current, verify the provider's official identity and licence, review the tariff and account-insurance notice, and authorise only transactions that you intend to make. Start with NBRNM's fee information, select an authorised provider, submit the required identity and status documents, review the framework contract and tariff, then activate cards or electronic banking if offered. A complaint should first go through the provider's internal procedure. A documented unresolved banking complaint can be taken to NBRNM's Consumer Protection and Financial Education Department.