Money and duty free for Montenegro

Currency and Money

Currency information

Euro (€) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents.

Note: Montenegro does not have its own currency and although it is not a member of the EU, it adopted the Euro as currency in 2002 (having previously used the German Deutsche Mark). The European Central Bank and the European Commission were not altogether happy about this, and when Montenegro was officially recognised as a candidate for EU membership in 2010, the situation became even more complicated. By EU law, member countries have to meet a stringent set of economic criteria before they can adopt the Euro. However, it looks unlikely that Montenegro will be forced to drop the Euro. As Montenegro is not an official member of the Eurozone, it has no issuing rights and cannot mint its own national version of the Euro coins (cents).

Credit cards

International credit and debit cards such as Visa, Mastercard, Diners Club, American Express and Maestro are accepted, but cash may be necessary for some payments, especially in small restaurants and shops in remotes areas. ATMs accept all the main international debit cards.

ATM

ATMs are widely available in all main towns and resorts.

Travellers cheques

Although acceptable in theory, in practice these can be very hard to exchange. It is advisable to take cash and credit or debit cards.

Banking hours

Mon-Fri 0800-2000 and Sat 0800-1500.

Currency restrictions

There are no restrictions on the import and export of local and foreign currency. Sums equivalent to or exceeding the amount of €10,000 need to be declared.

Currency exchange

Money should be exchanged through official exchange offices and banks only.

Montenegro duty free

Overview

The following items may be imported into Montenegro by travellers aged 17 and over without incurring customs duty:

• 200 cigarettes or 50 cigars or 100 cigarillos or 250g of tobacco.
• 2L of alcoholic drinks up to 22% volume or 1L of spirits over 22% volume.
• 4L of non-sparkling wine.
• 16L of beer.
• Goods to the value of €430 if arriving by air or sea or €300 if arriving by land (reduced to €150 for children under 15).

Note that Port Montenegro, the luxury marina-resort in Tivat, offers duty-free and tax-free fuel, at the cost of 45% of retail diesel prices, to both private and commercial yachts.

Banned Imports

Prohibited imports include narcotics and endangered species of flora and fauna (unless authorised). You can only import arms and ammunition if you're bringing them in for sporting or hunting purposes, in which case you must declare them to the police on arrival. 

Banned Exports

Unlicensed cultural artefacts, protected fauna and flora.