How to Bring Money Into Serbia (Before You Open a Bank Account)

TL;DR:
If you're relocating or traveling to Serbia, you don't need a Serbian bank account right away to access your funds. Popular options include Wise, Payoneer, bank wire transfers, Western Union, Remitly, and cryptocurrency. Each has pros and cons based on fees, accessibility, and availability. Wise is the top recommendation for most expats thanks to low fees and ease of use.

 

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Man questioning Canada's future next to Prime Minister Mark Carney with text overlay "Is Canada Cooked?" – political dissatisfaction among Canadians considering moving to Serbia
How to Access Money in Serbia Without a Local Bank Account

1. Wise (formerly TransferWise) – Best overall for travelers & expats

Why we recommend it:
Wise offers low conversion fees, high exchange rates, and works nearly everywhere in Serbia.

Benefits:

  • Hold multiple currencies (USD, EUR, CAD, AUD, etc.)

  • Use a physical or virtual debit card

  • Pay for everything from groceries to taxes

  • Minimal ATM withdrawal fees (flat ~500 RSD)

  • Fast and transparent transfers

Important note: Wise is not available to Serbian citizens, but U.S., Canadian, and other foreign nationals can open an account before arrival.

Use case: Ideal for paying monthly expenses, shopping, or even purchasing property in Serbia.

2. Payoneer – Great for freelancers and online business owners

Key features:

  • Supports both personal and business accounts

  • Issues a global debit card usable at ATMs and POS terminals

  • Compatible with platforms like Upwork, Fiverr, and Amazon

Drawbacks:

  • Approval can be inconsistent (even with full documentation)

  • Higher withdrawal and currency conversion fees

  • Mixed customer support experience

Use case: Best for digital nomads and freelancers with global income.

3. Bank Wire Transfers – Traditional but varies by home bank

How it works:

  • You send money from your home bank to a Serbian bank account

  • May involve multi-currency conversion (e.g., CAD → USD → RSD)

Things to check before initiating:

  • Does your bank allow international wires without visiting a branch?

  • What are the outbound and inbound fees?

  • How long is the processing time?

Examples:

  • One client from Canada had to fly back just to make a TD Bank wire

  • Another used CIBC to send funds remotely without issue

  • Typical daily limit: ~$75,000 per 24 hours

Use case: Large purchases like real estate—but plan ahead.

4. Western Union & Remitly – Best for emergency cash pickups

How they work:

  • Send money from your home country to Serbia

  • Pick up cash at any Western Union, post office, or local exchange center

Pros:

  • Fast (same-day or next-day availability)

  • Widely accessible in Serbian cities

  • No need for a bank account

Cons:

  • Can be expensive depending on sending country and amount

  • Remitly supports both bank transfers and cash pickup

Use case: Emergency funds, short-term needs, or support from family abroad.

5. Cryptocurrency – Innovative but volatile

Overview:

  • You can use crypto wallets (hot or cold) to bring funds into Serbia

  • Withdraw fiat from crypto ATMs (e.g., in Novi Sad shopping malls)

Advantages:

  • Instant transfers

  • No bank intermediary fees

  • Privacy and decentralization

Risks:

  • Market volatility

  • Regulatory compliance with platforms like BCX or ECD.rs

  • Not widely accepted for payments (including at Relocation Serbia)

Use case: Crypto-savvy expats comfortable with volatility and self-custody.

Real Client Example
A client from the U.S. used Wise to buy a property in Novi Sad. The transfer cost them just a few euros in fees, compared to over €100 using traditional SWIFT banking methods. They were also able to withdraw dinars directly from ATMs, pay service providers, and cover legal fees—all from one app.
Common Mistakes to Avoid
  • Assuming all banks operate the same. Some require in-person presence or have strict KYC checks.

  • Not checking with your home bank before traveling. Some banks (like TD Canada Trust) won’t wire funds internationally unless you’re physically present.

  • Ignoring conversion rates and hidden fees. Small differences in exchange rates add up over time.

  • Waiting until you’re broke to transfer. Always keep a buffer in Serbia when settling in.

What We Offer at Relocation Serbia

We’ve helped hundreds of clients transition their finances smoothly. In some cases, we’ve even provided private bridge loans when clients were waiting for property sales back home.

We support:

  • Wise and Payoneer onboarding

  • Legal support for declaring funds

  • Property purchases with non-Serbian bank accounts

  • Cash solutions if your home bank delays funds

👉 Contact us now if you need help moving money into Serbia.

Quick Comparison Table
Method Speed Fees Best Use Case Account Required
Wise Fast Low Daily use, real estate Yes
Payoneer Medium Medium-High Freelance income, online biz Yes
Bank Wire Transfer Medium-Slow Varies Large transfers Yes
Western Union Fast High Emergency cash No
Remitly Fast Medium Bank or cash transfers No (for pickup)
Crypto Instant Low/None Advanced users, decentralized No
FAQ: Bringing Money to Serbia
Can I use Wise without a Serbian bank account?
Yes. You can withdraw at ATMs, pay at stores, and send money directly.
Can I send money from my U.S./Canadian bank to Serbia?
Yes, but check your bank’s wire transfer policies and setup before leaving.
Is Payoneer accepted in Serbia?
Yes, but account approval may be difficult. Great for freelancers.
What crypto ATMs exist in Serbia?
Locations like Novi Sad and Belgrade have ATMs for BTC and ETH withdrawals.

Final Recommendation

  • Use Wise for everyday expenses and real estate transfers

  • Use Payoneer if you freelance online

  • Use Western Union/Remitly for emergency cash

  • Use crypto if you’re experienced and want fast, fee-free transfers

  • Use bank wires for large sums, but check bank requirements first

Still unsure which method is best for you?
👉 Book a consultation and we’ll help you sort it out—step by step.