What currency does Serbia use? The Serbian dinar (RSD) is the official currency of Serbia. While the dinar’s earliest use dates back to 1214, the Serbian dinar, in its current form, replaced the Yugoslav dinar in 2003. This happened upon the transformation of Yugoslavia into State Union of Serbia and Montenegro.
Carrying out a money transfer to a Serbian bank account requires that you have the bank’s SWIFT code. Given below are SWIFT codes of some popular banks in Serbia.
Miroslav moved from Serbia to Germany because of work, but his aging parents did not relocate with him. Since they depended on him financially to some extent, he was to keep sending them a little money each month. While several banks in Germany let him transfer money to Serbia, he decided to compare them with some of the leading money transfer companies. The results of his comparison are in the corresponding table.
|BANK||MONEY TRANSFER SERVICE|
|Exchange rate||EUR 1 = RSD 115.1310||EUR 1 = RSD 115.6739|
|Transfer fee||EUR 15||EUR 0|
|Amount received for EUR 1,500||RSD 170,969.53||RSD 173,510.85|
|Transfer time||2 to 6 days||2 to 3 days|
|Transfer options||Bank account||Bank account|
|Difference of||RSD 2,541.32|
Miroslav used a money transfer company instead of a bank, because of which his parents received some extra money each time. Besides, the company also let him schedule monthly transfers according to his pay-cycle, so he did not have to repeat the entire process every month.
If you want to send money to Serbia quickly, or if the recipient wants to collect the money from a physical location, you may consider using the services of companies such as Western Union, MoneyGram, or Ria.
|WESTERN UNION IN SERBIA|
|Belgrade Menjacnica Iks Andre Nikolica 2a Belgrade||Banca Intesa Vase Pelagica 48b Belgrade|
|Novi Sad As Impex Ns 1 Bulevar Jase Tomica 4 Novi Sad||As Impex Ns 2 Bulevar Jase Tomica 4 Novi Sad|
|MONEYGRAM IN SERBIA|
|Belgrade Moneta - Alta - #7 Knez Mihajlova 54. Lokal B18 Rajiceva Sc Belgrade||Vojvodjanska Banka Bulevar Vojvode Misica 41 Belgrade|
|Novi Sad Alpha Bank Bulevar Oslobodijenja 30 Novi Sad||Moneta - Pro Kurs - #1 Novosadskog Sajma 2 Novi Sad|
While crime levels in Serbia are typically low, you should exercise basic precautions. Foreigners might become targets because of the assumption that all tourists are rich. There have been reports of petty crime from the larger cities in Serbia. Pickpocketing can take place around tourist areas, on public transport, at airports, and at crowded public places.
Instances of petty crime and violence have taken place at some sporting events. Remain vigilant if you leave a bar or a nightclub alone late at night. Luxury and four-wheel drive vehicles have been targeted by thieves. Do not leave your valuables or belongings in a parked car. Credit card fraud is common in Serbia, so never leave your card out of your sight.
How you choose to send money to Serbia has a bearing on the information your service provider will need.
The Serbian dinar is a floating currency and the National Bank of Serbia manages the float to steer clear of excessive volatility. The exchange of foreign currencies is supervised by different bodies that include, but do no limit to, the National Bank of Serbia, the customs authorities, and the tax administration. The National Bank oversees forex operations of banks as well as internet-based service providers headquartered in the country.
There are no restrictions on Serbian companies that want to make payments for goods or services from other countries. Serbian businesses may hold foreign exchange accounts with any bank that has the authority to provide such accounts.