The National Bank of Serbia has announced the revocation of ALTA Bank’s operating licence.

This affects both customers holding money with ALTA Bank and businesses whose customers or suppliers use the bank. Individuals should also check payment instructions for utility bills, as EPS has announced a new account for certain electricity payments in Belgrade.

If you hold money with ALTA Bank

If ALTA is your only bank, start opening an account with another bank immediately. Do not wait for the deposit insurance payout before taking this step.

Once your new account is active:

• Notify customers and other parties making payments to you.
• Update your invoices and payment instructions.
• Obtain new international payment instructions if you receive payments from abroad.
• Save available bank statements, account agreements and transaction confirmations.
• Check whether previously submitted payments were completed before making them again.

Businesses should review upcoming payroll, tax and supplier payments and assess how to cover these obligations while access to their funds is interrupted.

How does deposit insurance work in Serbia?

Deposit insurance protects eligible depositors when a bank enters bankruptcy or liquidation. Serbia’s Deposit Insurance Agency, known as AOD, administers the scheme.

The protection limit is EUR 50,000 per eligible depositor, per bank. Insured payouts are guaranteed by the Republic of Serbia. Customers do not need to purchase a separate insurance policy or pay an insurance premium.

Who is protected?

The scheme covers:

• Individuals, including residents and non-residents.
• Entrepreneurs registered as residents of Serbia.
• Resident micro, small and medium-sized legal entities.

Protection extends to eligible current-account balances and savings, including term deposits. Money does not have to be held in a savings account to qualify.

Statutory exclusions apply. For example, large legal entities and persons legally connected to the bank are excluded. A business should therefore confirm its eligibility rather than assume that every company deposit is insured.

How is the EUR 50,000 limit calculated?

The limit applies to the depositor’s combined eligible balances at the same bank, regardless of how many accounts they hold.

Dinar and foreign-currency balances are aggregated, including contractual interest accrued up to the date bankruptcy or liquidation proceedings are opened. Relevant exchange rates on that date are used to calculate the euro equivalent.

For example, assuming all balances are eligible:

Balances held by one depositor at ALTA Bank	Total euro equivalent	Covered by deposit insurance	Amount above the limit
Current-account funds only	EUR 18,000	EUR 18,000	EUR 0
EUR 20,000 in a current account and EUR 25,000 in savings	EUR 45,000	EUR 45,000	EUR 0
EUR 35,000 in a current account and EUR 30,000 in savings	EUR 65,000	EUR 50,000	EUR 15,000

These simplified examples illustrate the combined limit; they do not represent individual payout calculations.

In which currency will the payout be made?

Under the Agency’s general rules:

• Dinar deposits are paid in dinars.
• Euro deposits are paid in euros.
• Deposits in other foreign currencies are converted and paid in euros.
• Where deposits include both dinars and foreign currencies, the insured payout reflects their proportional currency composition.

The EUR 50,000 limit does not mean that every depositor receives the entire payout in euros.

What happens to money above EUR 50,000?

Amounts exceeding the insured limit must be claimed in the bank’s bankruptcy proceedings. They are outside the deposit insurance payout, and the timing and amount recovered are uncertain.

For example, an eligible depositor with EUR 65,000 would have up to EUR 50,000 covered by insurance and would need to pursue the remaining EUR 15,000 through the bankruptcy process.

When will payouts begin?

According to the Agency’s ALTA Bank announcement, insured payouts will begin no later than seven working days after the Commercial Court in Belgrade issues its decision opening bankruptcy proceedings.

The deadline should not automatically be counted from the date the operating licence was revoked.

The Agency will publish the payout conditions, locations and timetable within three working days of the court’s decision. Customers should follow the official announcement for details of the designated payout bank.

Do customers need to apply?

Yes. Under the Agency’s general procedure, depositors submit a payout request to the designated payout bank. They should prepare identification and relevant account documentation and follow the specific instructions issued for ALTA Bank. Business payouts are transferred to another account.

Before signing, check the calculated entitlement and raise any discrepancy with the payout bank.

If your supplier has an ALTA Bank account

Before making your next payment, request verified instructions for an account held by that supplier with another bank.

Check saved banking templates, scheduled payments and QR codes on earlier invoices. New payment instructions will not automatically update information you previously saved.

Confirm account changes through a known supplier contact, particularly if the request arrives from an unfamiliar email address.

If you have already sent a payment, ask your bank and the supplier to confirm whether it was completed, returned and recorded. Do not pay again until the original transaction’s status is clear.

If your customer uses ALTA Bank

Contact the customer to establish whether they can pay from another business account. If their funds are temporarily inaccessible, discuss the payment arrangements and record any agreed extension in writing.

Allow for potential collection delays when planning your own cash flow. Deposit insurance protection does not mean the customer can access their money immediately.

EPS announces a new electricity payment account for Belgrade

According to the EPS announcement reported by RTS, households and small customers on guaranteed electricity supply in the Belgrade area must use the following account starting with their October bill:

200-75409-96

The new account must also be used to settle outstanding debts from earlier periods.

EPS has also announced that payment through the “EPS Uvid u račun” application will be temporarily unavailable. Users will be notified when the service resumes.

Before paying, check the current bill and update saved payment templates. Do not reuse an old payment order or scan an old bill’s QR code without checking the account details.

This notice applies to the specified customers in the Belgrade area and should not be treated as a nationwide change for all EPS customers.

What about other public utility payments?

Check the specific account shown on your bill and the utility company’s official announcements.

If the payment account is with ALTA Bank, obtain current instructions through the utility’s official website or customer service. Do not assume that payment deadlines have been extended.

If a bill is approaching its due date and updated instructions are unavailable, contact the utility in writing and retain the correspondence. For payments already made, keep the confirmation and check whether the payment has been credited before paying again.

Official information

• National Bank of Serbia — ALTA Bank licence revocation
• Deposit Insurance Agency — ALTA Bank announcement
• Deposit Insurance Agency — frequently asked questions
• RTS — EPS payment account change for Belgrade