May 20, 2020

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From: Vuković & Partners

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Category: Banking and Finance, Newsroom, News

Decree on the payment of one-time financial...

DECREE ON THE PAYMENT OF ONE-TIME FINANCIAL ASSISTANCE TO ALL ADULT CITIZENS OF THE REPUBLIC OF SERBIA

Considering a new pandemic of the COVID-19 virus, the Government of the Republic of Serbia, on April 24, 2020, adopted the Decree on the establishment of a temporary registry and the method of payment of one-time financial assistance to all adult citizens of the Republic of Serbia to reduce the negative effects caused by the SARS-CoV-2 pandemic COVID-19, published in the Official Gazette of the Republic of Serbia no. 60 of 24 April 2020 (hereinafter: the “Decree”).

Who can exercise the right to one-time financial assistance?

The Decree regulates forming a temporary register of adult citizens of the Republic of Serbia, as well as the manner of payment of one-time financial assistance to adult citizens of the Republic of Serbia who reside on the territory of the Republic of Serbia on the day when the Decree enters into force. Recipients of financial social assistance, as well as those who have applied for one-time financial assistance following the Decree, to reduce the negative effects caused by the COVID-19 pandemic.

One-time financial assistance amounts to EUR 100 (one hundred) in dinar counter value at the NBS calculated official middle rate on the day this Decree entered into force.

How to apply for one-time financial assistance? one-time financial assistance?

For the payment of one-time financial assistance, adult citizens of the Republic of Serbia, except for pension recipients and beneficiaries of the right to financial social assistance, shall apply for receiving one-time financial assistance by phone through the contact center or electronically through the portal of the Ministry of Finance from May 2020 until June 5, 2020.

When applying, the citizen delivers the name and surname, his / her personal ID number, the registration number of the valid ID card and the name of the bank with which the account of that citizen is opened or will be opened, as well as the telephone number and/or e-mail address that will be used for communication with the bank on the payment made in case the citizen is not a client of the bank with which the account for that purpose will be opened.

If the citizen stated in the application a bank with which he/she does not have a current dinar account, that bank is obliged to open a special purpose account for that citizen.

Method of disbursement of funds?

The transfer of funds based on the payment of one-time financial assistance is made from a special purpose account opened for that purpose with the Ministry of Finance - Treasury Administration to the dinar account of a citizen of the Republic of Serbia.

After the bank pays the entire amount of one-time financial assistance from a special account or after the citizen otherwise disposes of the funds of that assistance in its entirety (e.g. transfer to another account), the bank is obliged to close the account.

The bank is obliged to inform the adult citizen of the Republic of Serbia, its client, following the agreed manner of communication with the client (e.g. by letter, email, SMS, or in the electronic banking application) that the one-time cash payment has been made to his current account in the bank assistance, while informing the citizens with opened a special account about that payment by phone or to the e-mail address provided by the citizen.