Money And Banking

Currency. The Serbian currency is the Dinar (din or CSD). One Dinar is divided into 100 Para but these are so small in real value that they are near to worthless. Dinars can be occasionally purchased outside Serbia. Nevertheless, you are advised to exchange Dinars back into your own curency before leaving Serbia. Although on an everyday basis, everything is calculated in Euros, bear in mind that the Dinar is the only legal currency. However, on some occasions Euros might also be accepted.

The official currency in Kosovo is the Euro and Dinars are not accepted outside Serbian enclaves.

Cash, credit cards, travellers cheques. International credit cards are accepted in an increasing number of places, particularly large hotels, top restaurants and stores, but, by large Serbia still has a cash economy. Obtaining Dinars is therefore advisable for everyday shopping and average restaurants. It is safest to bring money in several forms - mainly cash, some travellers cheques (which, if stolen, can be replaced), and, if possible, credit/debit cards. If bringing in cash, we suggest bringing Euros, or US Dollars, as these two currencies are the easiest to exchange. Among credit cards, best accepted are Visa, Diners Club and MasterCard/EuroCard. Depending on the card you have, you might need to enter your PIN code when shopping. Travellers cheques, such as American Express, Thomas Cook, VISA, and Eurocheques can be exchanged in most Belgrade banks. If experiencing difficulty finding a place to exchange them, head to any “Komercijalna Banka” or “Raiffeisenbank” branch. For Eurocheques “ProCredit Bank” is recommended. You will not be able to use your personal or travellers cheques in shops. Bear in mind that a fee will be charged for each processed cheque.

Electronic banking is progressing steadily in Serbia and more and more ATMs are being opened. ATMs that accept Master Card/Euro Card/Maestro are those of “Komercijalna Banka”, “Banca Intesa”, “Pireus Bank”, “Meridian Bank” or “Societe Generale”. For VISA there are numerous possibilities – “Societe Generale”, “Vojvodjanska banka”, “Banca Intesa”, “Reiffeisenbank”, “Komercijalna banka”, “Meridian Bank” and “Alpha Bank”. Dina Card is excepted at the ATMs of “Meridian Bank”.

Exchange offices and banks are numerous, particularly around business and tourist areas. All licensed exchange offices are properly signposted (“Menjačnica / Exchange”). Commission is not charged for these services. The rate is not fixed but rarely varies significantly. Always ask for a receipt and always count the money given back. One can change some money immediately after arrival: there are many exchange offices in the arrival hall of Belgrade Airport and at least one at every major railway station or chief border crossings. Try to avoid changing larger amounts of money at the motorway pay-tolls as here commission will be charged. In Belgrade (including Belgrade airport - departures hall) and other bigger cities, one can exchange money 24 hours a day in exchange machines. Insert notes and follow the on-screen instructions. These machines can exchange up to 200 euros at a time. These machines will exchange Euros, US dollars, and British pounds.

Although it is unlikely that ine will get the opportunity to change money on the street, avoid it, as it is both illegal and risky, especially as the rates hardly differ from those in exchange offices.

Cash transfers from abroad. For fast money transfers the Western Union service is recommended. It is available at various commercial banks and Post offices. One will always receive the money in Euros, regardless of the currency that it has been sent in. Moneygram services are not available in Serbia.

If the money is not required urgently, one can open a bank account, and have the money transferred to it from any country in the world, as all Serbian banks are members of SWIFT and IBAN. Depending on the bank, the SWIFT/IBAN transfer can take between 2 to 7 business days.