Can foreigners open bank accounts in Serbia?
Yes. Foreigners can open both personal and business bank accounts in Serbia. The process is easier once you have official registration documents, but it is possible either way.
The easiest path
The fastest, least-friction route most expats take:
- Register as a freelancer (pausalac) — Marko does this in 2–5 days
- Use those registration documents to open a business bank account at Raiffeisen Bank
- Receive EUR payments from international clients directly into your Serbian account
This route works because banks are much more welcoming when you arrive with official government registration documents rather than just a passport and a rental contract.
What documents do you need?
- Passport (original, not a photocopy)
- White Card — your address registration slip from the police station
- Freelancer or company registration documents — an extract from the Business Register (APR) showing your registered business
- Some banks also ask for a tax identification number (PIB) — you get this automatically when you register as a freelancer
Which bank should you use?
| Bank | For foreigners | Why |
|---|---|---|
| Raiffeisen Bank | ⭐ Best | Most popular among expats. English support, good app, EUR accounts available. |
| OTP Bank | Very good | Good digital banking, straightforward onboarding. |
| UniCredit | Good | Part of European network — smooth for EU citizens. |
| Erste Bank | Good | Familiar to Central Europeans (Czech, Slovak, Austrian). |
| Intesa (Banca Intesa) | OK | Largest retail bank, most branches, but more bureaucratic. |
Personal vs business account
In your first year in Serbia, you are legally classified as a "non-resident" — which means some restrictions apply to personal accounts (limited international transfers, for example). Once you have lived in Serbia for over a year with a residence permit, you become a "resident" with full personal banking access.
For most expats, a business account (opened when you register as a freelancer or company) actually works better from day one — fewer restrictions, and you can receive international EUR/USD wire transfers directly.
Receiving money from abroad
Serbia is not part of the EU payment system, so international bank transfers take 1–3 days and come with fees. The practical solutions most expats use:
- Wise — by far the most popular. Get a EUR/USD virtual account, receive client payments there, convert to dinars at excellent rates. Works from day one, no Serbian account needed initially.
- Serbian business bank account — once registered, you can receive international EUR wires directly. Best for formal invoicing to business clients.
- Payoneer — popular for freelancers paid through platforms like Upwork or Fiverr.