Receiving payments from foreign clients

Why Choosing the Right Payment Method Matters

Serbia - not a euro zone, so clients from Europe and the USA send money in different currencies. Bank fees and conversion rates can eat up to 10 % of the amount. For example, a transfer of 1000 EUR via SWIFT to a local bank can incur a fee of up to 30 EUR, and the exchange rate may be 1-2 % worse than the market rate. Knowing the nuances helps avoid unnecessary costs.

Wise (ex-TransferWise) - optimal choice for most

Wise - the most popular service among expats in Serbia. Receiving in EUR, USD, GBP and subsequent conversion to RSD is done at the interbank rate with minimal fees.

How to open a Wise account in 2026

1. Register on the website wise.com or in the mobile app.
2. Verify your identity (passport or ID card).
3. Choose the account type - personal, mark it as "self-employed".
4. Get the details: IBAN (for EUR) and SWIFT code. That's enough to receive transfers from clients.

Wise fees and limits in 2026

• Receiving EUR - 0.46 % of the amount (min 0.50 EUR).
• Conversion EUR → RSD - 0.35-0.55 % depending on volume.
• Withdrawal of RSD to a local bank account - 0.65 EUR + 0.35 % (min 1.50 EUR).
• Limit - up to 250 000 EUR per month for a personal account.

Funds are credited within 1-2 business days, rate is almost market.

Payoneer - proven option for platform work

Payoneer is often used by freelancers working through Upwork, Fiverr, Toptal and other marketplaces. The service supports EUR, USD, GBP and allows withdrawals in RSD.

How to register with Payoneer

1. Fill out the form on payoneer.com.
2. Verify your identity (passport or ID card) and residential address.
3. Provide the details of a Serbian bank account for withdrawals.
4. Get a USD or EUR wallet with a unique account number.

Payoneer fees in 2026

• Receiving USD - 3 % (clients from the USA).
• Receiving EUR - 1 % (clients from Europe).
• Withdrawal to RSD - 2 % + 1.50 EUR fixed fee.
• Limit - up to 50 000 USD per month for a standard account.

Funds arrive in 2-5 business days; fees are higher than Wise, but the service is convenient for platform payouts.

Revolut Business - alternative for entrepreneurs

Revolut Business is aimed at self-employed and small businesses. In 2026 you can open a multi-currency account and convert funds at a favorable rate.

How to open a Revolut Business account

1. Register on revolut.com/business.
2. Choose a plan: free (up to 1000 EUR per month) or paid (from 7.99 EUR/month).
3. Verify your identity and provide the tax ID (for self-employed the tax ID is sufficient).
4. Get the details in EUR and RSD.

Revolut Business fees in 2026

• Receiving EUR - 0 % (clients from Europe).
• Conversion EUR → RSD - 0.5 % of the amount (free plan).
• Withdrawal of RSD to a local account - 0.50 EUR fixed fee.
• Limit - up to 50 000 EUR per month for the free plan.

Funds are credited instantly, and fees are lower than Payoneer.

Direct SWIFT transfer - classic but expensive method

SWIFT remains the standard for bank transfers from Europe and the USA. In 2026 most Serbian banks support this scheme, but fees and the exchange rate are often unfavorable.

How to receive a SWIFT transfer in Serbia

1. Give the client your bank's SWIFT code and IBAN in RSD.

2 . The client initiates the transfer through their bank.

2. Wait for the credit (2-5 business days).

SWIFT fees in 2026

• Sending bank - 10-30 EUR.
• Receiving bank (Serbia) - 5-15 EUR.
• Rate - 1-2 % worse than market.
• No limit, but large amounts often require additional verification.

For small freelance projects SWIFT is usually uneconomical because of the high costs.

Converting to RSD: where and how to get the best exchange

Method	Rate	Fee	Note
Wise / Revolut	Interbank	0.35-0.55 %	Instant, minimal effort
Serbian banks	Market - 1-2 %	0.5-1 %	Requires personal visit or online application
Exchange offices (money changers)	Potentially better rate	0.3-0.7 %	Choose reputable places, otherwise fraud risk
PayPal (withdrawal)	Market - 1-2 %	3.49 % + 0.45 EUR + 1-2 % + fixed	Slower, convenient for clients already using PayPal

For most freelancers the Wise or Revolut route is optimal - fast, transparent, and cheap.

Taxes and reporting: what freelancers need to know

Personal Income Tax (PIT)

• 10 % - up to 12 000 EUR per year.
• 20 % - over 12 000 EUR.

Reporting - quarterly, by the 15th day of the month following the reporting period.

Social contributions

• 35.9 % of income (26 % - pension, 10.9 % - health).
• Minimum payment ≈ 150 EUR per month (depends on the minimum wage).

Registering as self-employed

1. Submit an application to the local tax administration (Poreska uprava).
2. Indicate the type of activity (e.g., "IT services").
3. Obtain a tax ID and register in the e-Porezi system.

Income declaration

• Submission - annually by 31 March.
• Include all receipts from foreign clients.
• Attach statements from Wise, Payoneer, banks, etc.

If you are not registered as self-employed, the bank will automatically withhold a 20 % tax when funds are withdrawn.

Comparison of methods: which to choose in 2026

Method	Receiving fee	Withdrawal fee	Speed	Conversion rate	Suitable for
Wise	0.46 %	0.65 EUR + 0.35 %	1-2 days	Interbank	Freelancers working with Europe
Payoneer	1 % (EUR) / 3 % (USD)	2 % + 1.50 EUR	2-5 days	Market - 1-2 %	Platforms (Upwork, Fiverr)
Revolut Business	0 %	0.50 EUR	Instant	Interbank	Entrepreneurs needing fast payouts
SWIFT	10-30 EUR (sender) + 5-15 EUR (receiver)	-	2-5 days	Market - 1-2 %	Large one-off transfers
PayPal (withdrawal)	3.49 % + 0.45 EUR	1-2 % + fixed	3-5 days	Market - 1-2 %	Clients already using PayPal

Conclusion: for most freelancers in Serbia Wise (or Revolut Business if a business account is needed) is the best choice. Payoneer makes sense when work is done through international marketplaces, and SWIFT is kept only for large sums where other services are not possible.

Note: tax rates and minimum contributions may change during the year. Keep an eye on official updates on the Poreska uprava and e-Uprava websites.