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FC savings deposit characteristics


Opening at

SB's Branches 

Documents issued by SB Branches

At opening the FC savings deposit, SB issues the following to the client: 
- agreement on opening FC savings deposit - account 
- passbook



- in FC cash at all SB Branches' counters, unlimitedly for residents, while for non-residents up to EUR 10,000 per month, or the equivalent of another currency up to that amount, as well as the amount of unspent FC cash that has been previously withdrawn from the same account. The non-resident can deposit a larger amount by submitting a written request and an original written certificate of the Customs Administration of the Republic of Macedonia that does not exceed 5 business days as of the issuance date 
- bank checks that are denominated in a convertible currency (drawn on SB) 
- international postal money order 
- bank remittance 
- transfer from another account with SB


- in FC cash at all SB Branches' counters, for residents / non-residents without limitations within the available funds 
- in MKD at all SB Branches' counters, for residents / non-residents unlimitedly within the available funds 
- for executing nostro remittances of residents for living expenses and personal transfers of funds in the equivalent to EUR 2,500 monthly, with or without presentation of a document 
- unilateral personal transfers of funds exceeding EUR 2,500 or equivalent in other currency, for resident, by presenting a document, from which one may determine the basis and liability for payment, while, for non-resident, within the available funds based on request and valid ID document or copy certified with a notary public, emigration or job visa - international payments for purchasing goods and services up to the amount stated in the document 
- nostro remittances based on retrieval of pensions abroad at request of overseas pension fund 
- transfer of funds from SB's account to an international account of the same person that has a non-resident status, i.e. on the basis of submitting a proof – job visa, or international residence visa for a period of at least 6 months 
- issuing nostro checks up to EUR 2,500 under personal transfer, without liability for presenting a payment document, while regarding the amount higher than EUR 2,500 for resident by mandatory presentation of a document, on whose basis the basis of the payment will be established 
- for paying goods in consignment by presenting payment invoices 
- for MKD payments to domestic legal entities, unlimitedly for residents and non-residents within the available funds 
- by transferring funds to another account with SB and abroad on behalf of the client that holds the account 
- for paying state-owned flat on the basis of a certificate that comprises the funds amount, mode of payment and the number of points that are paid with the funds The non-resident can without limitations transfer funds overseas and unlimitedly effect payments within the Macedonian payment operations

Document for disposal of the deposit that is submitted to SB's Branches

The holder/proxy for disposal of the deposit submits the following documents to a SB Branch:

- ID document 
- passbook 

The disbursements can be executed even without presenting the passbook, but, in that case, the client is obliged to present the ID card issued by SB, and to submit in addition the passbook so that the occurred changes are updated. The responsibility for the passbook updating is solely to the deposit holder


- it is calculated from the date of payment to the date of disbursement by applying the interest rate of the appropriate currency of the deposit, as established by a SB's Decision. The interest rate is floating. Its computation is made on monthly basis by entry into deposit account of the same currency 

As per the applicable regulations, SB regularly announces the current annual rates of total costs on its website, counters and thru the media. 


- the deposit holder can authorize another person of age (over 18) for disposal of the deposit. The proxy can be issued at the moment of the deposit being opened, or in addition at any time (see text for issuing proxy to other persons for disposal of the deposit)

Authorization's duration

- while the deposit is opened 
- until it is revoked from the deposit holder - even after the decease of the deposit holder, if he/she states so in the proxy


- the data of the savings deposit are Bank's business secret

Savings deposit data disclosure

The account data (account number, account balance, issued and other account-related data) are SB business secret.

The account data may be announced in the following cases:

- if data disclosure is prescribed by law - if the deposit holder issued written consent to SB for data disclosure 
- at written request of competent court for running proceedings within its jurisdiction 
- for NBRM purposes or purposes of other supervisory body authorized by law 
- at written request of the IRS for running proceedings within its jurisdiction -if data are disclosed to Money Laundering and Terrorism Financing Prevention Directorate in compliance with the law 
- if data are disclosed to Financial Police Bureau in compliance with the law - at written request of the Foreign Exchange Operations Inspectorate - at written request of the Deposit Insurance Fund in compliance with the law - if data are announced for the functionality purposes of NBRM Credit Register - at written request of persons authorized for enforcement in compliance with the law


- SB has insured the FC savings deposits (balance, as well as the computed and non-mature interest) with the Deposit Insurance Fund. This Fund compensates the individuals in the amount of:

- 100% of the total deposits of each individual with one bank, up to the MKD equivalent of EUR 10,000 - 90% of the total deposits of each individual with one bank, up to the MKD equivalent between EUR 10,000 and EUR 20,000, but not more than the MKD equivalent of

EUR 20,000. The reimbursement comprises the principal of the deposit that is increased by the interest up to maximum 3 M EURIBOR for the appropriate period, if, in that period, the applicable interest rate on the adequate deposits, as established by the Bank, has been over 3 M EURIBOR

Disbursing savings deposit of a passed away client

In case of a late client, the right to disposal of the deposit of the person authorized to use it is terminated. SB can disburse the deposit prior to the probate proceedings on behalf of the late person's funeral.

Procedure for lost passbook

The Holder/proxy for disposal of the deposit reports in writing at SB Branch that he/she has lost the appropriate document so that it be immediately replaced by a new one. If the Holder desires so, the following can be made: - the funds be frozen within a deadline established by him/her - the account be closed and the balance be transferred to a new account

Savings deposit closure

Closing of FC savings deposits

- at deposit account holder's request 
- at ascertainment of the account's inactivity, in compliance with an SB's Body decision So that the closing is made at the request of the client, the passbook and the deposit agreement are presented, the balance of the deposit as well as the liabilities upon the account are checked. If the client has liabilities towards SB under the deposit, or there are liabilities placed on the client's deposit to other individuals and legal entities on the basis of decisions of competent bodies in the Republic of Macedonia , the closing cannot be executed