Before you start

Passport
White card registration slip
Residence permit for a full resident account; some banks open a non-resident account without one
A Serbian phone number for authentication

Step-by-step

1
Open a non-resident account early if the permit is still pending
Several Serbian banks will open a non-resident account on a passport and white card alone. It receives and sends money and takes a card. Converting it to a resident account once the permit arrives is a simple branch visit.
In personWho: You
2
Choose a bank with English-language service in the branch you will use
Banca Intesa, OTP, NLB Komercijalna, Raiffeisen and UniCredit are the main retail names. Central Belgrade and Novi Beograd branches are far better for English than outer ones, and the branch matters more than the brand.
In personWho: You
3
Open both a dinar and a euro account
This is standard practice in Serbia rather than an optimisation. Salaries, rents and savings are frequently denominated in euro while daily spending is in dinars, and holding both removes a conversion at every step.
In personWho: You
4
Use a menjačnica rather than a bank for cash exchange
Licensed exchange offices are everywhere in Belgrade, are regulated by the National Bank, and consistently give better rates than bank counters. Rates are posted; there is no negotiation and no reason to use anything else for cash.
In personWho: You
5
Expect international transfers to work differently from inside the EU
Serbia is outside the EU's payment area for most purposes, so incoming and outgoing transfers carry more fees, more documentation and more scrutiny than a SEPA payment would. Large incoming transfers frequently trigger a request to document the source.
In personWho: You
6
Keep cash for the parts of the economy that still want it
Card acceptance in Belgrade is good but not universal — markets, some kafanas, small tradespeople and taxis outside the app services still prefer cash. Dinars, not euro; paying in euro is common but the rate you get will be poor.
In personWho: You

Documents you’ll need

Passport
White card registration slip
Residence permit, for a resident account
Serbian phone number
Proof of address, sometimes requested

Things most newcomers don’t know

The dinar floats on paper and is managed in practice, which is why Belgrade prices in euro without much anxiety.

The National Bank of Serbia operates a managed float and intervenes to keep the dinar close to a narrow band against the euro. The result is a currency that has been remarkably stable for years, so landlords quote in euro, settle in dinars at the day's rate, and nobody argues about it. That stability is a policy outcome rather than a market one, which is worth remembering before treating it as a law of nature.

Source: National Bank of Serbia

Being outside the EU makes cross-border money movement noticeably heavier.

There is no SEPA-equivalent simplicity here. Incoming international transfers, particularly larger ones from foreign clients, attract fees, slower processing and requests to document the source of funds — which is exactly the position a relocated freelancer with overseas clients finds themselves in. Set up the banking relationship and explain your income pattern early, rather than being asked about it when a payment is already held.

Source: community-reported

Exchange offices beat banks, and they are properly regulated rather than informal.

Menjačnice in Serbia are licensed and supervised by the National Bank, post their rates publicly, and consistently offer better cash rates than bank counters. Newcomers who assume that a street exchange office is a grey-market operation and queue at a bank instead lose several percent on every transaction for no reason.

Source: National Bank of Serbia

The white card, not the residence permit, is what gets you through the bank door first.

Several Serbian banks will open a non-resident account for someone holding a passport and a valid white card registration, before any permit exists. That is unusually accommodating by regional standards and it means you can be receiving money in Serbia within your first week. People who wait for the permit before approaching a bank spend two unnecessary months on foreign cards.

Source: community-reported

Common mistakes to avoid

Waiting for the residence permit before opening any account at all.
Holding only dinars while your rent and savings are denominated in euro.
Changing cash at a bank counter instead of a licensed menjačnica.
Receiving a large foreign transfer without having explained the income source to the bank.
Paying for things in euro cash and accepting whatever rate the vendor applies.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.