North Macedonia IBAN
A North Macedonia IBAN is 19 characters long and North Macedonia is in SEPA.
MK and two check digits open every North Macedonia IBAN; its remaining 15 form the BBAN (Basic Bank Account Number).
Example North Macedonia IBAN
Electronic format
MK07250120000058984
Print format
MK07 2501 2000 0058 984
IBAN structure for North Macedonia
Format reference: SWIFT IBAN Registry.
North Macedonia IBAN questions
Does a recipient in North Macedonia need documents to be paid from abroad?
Usually not. Stopanska Banka says that under the Decision on the Manner of Conducting Payment Transactions with Abroad most incoming payments are credited without documentation. Residents must submit papers for listed capital transactions, such as dividends from direct investments abroad, selling or renting out real estate they own abroad, or moving money from their own account abroad.
Will North Macedonia have instant denar payments?
That is the plan. Velichkovski called the launch of the central bank's TIPS Clone platform, designed to connect with similar systems in the Western Balkans and with the Eurosystem's TIPS, imminent. Banca d'Italia, which built TIPS Clone, said on 20 July 2026 that the NBRNM is expected to join it in November 2026.
What account does a recipient need for euros or US dollars?
At Stopanska Banka the recipient must hold a foreign currency payment account in the same currency as the incoming transfer, the bank says. Euro payments from SEPA countries arrive as SEPA credit transfers, made in euros only with shared charges; payments in other currencies, and euros sent another way, come through SWIFT.
North Macedonia: the denar, MIPS and KIBS
North Macedonia's legal tender is the denar, introduced on 26 April 1992, the day of the country's monetary independence, first as coupons and a year later as the first original denar issue. The National Bank of the Republic of North Macedonia (NBRNM) has the exclusive right to issue notes and coins, and owns and operates MIPS, the real-time gross settlement system for large-value and urgent denar payments, running since July 2001.
- Retail payments go through KIBS, Clearing Interbank Systems AD Skopje, which runs multilateral deferred net settlement for small payments. Its participants are the banks, the Treasury System and the Health Insurance Fund; net balances settle once a day in MIPS, and the NBRNM oversees KIBS.
- The euro dominates cross-border payments. In a 2025 interview on the European Payments Council's website, Igor Velichkovski, a director at the NBRNM, said 93 percent of 2024 cross-border transactions were in euros, 77 percent of foreign trade was with SEPA countries, and personal transfers and compensation of employees came to almost 14 percent of GDP.
- He said North Macedonia had transposed PSD2, the Payment Accounts Directive, the Interchange Fee Regulation and the SEPA Regulation, opening the market to non-bank payment providers. Between 2019 and 2024 electronic credit transfers by citizens doubled and mobile-initiated ones grew fivefold; the World Bank's 2024 Findex put adult account ownership at 84 percent.
Sources: NBRNM: Macedonian payment infrastructure (MIPS, KIBS); NBRNM: Macedonian currency; EPC: North Macedonia's SEPA journey (interview, 2025); Stopanska Banka: payment operations abroad.
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