global payment guide


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Available payment networks

Slovenia, with its advanced financial infrastructure, has become an attractive destination for global business, especially for facilitating cross-border transactions. This article offers an in-depth look at Slovenia's payment landscape, covering a range of offline and online payment methods and the strong network that supports international financial activities. However, nonresidents often encounter difficulties in opening traditional bank accounts in Slovenia. In this context, innovative platforms like WeavePay come into play, offering accessible and efficient alternatives for handling financial transactions, making them particularly valuable for those looking to engage in Slovenia's dynamic market.

Payment Methods in Slovenia

The traditional payment methods used in Slovenia include:


In Slovenia, unlike some other European countries, cash remains a primary payment method, particularly for smaller purchases. Reports indicate that a significant portion of retail payments in the country are made using banknotes and coins. While cash transactions don't require online payment processing, they are often not feasible for businesses needing to execute frequent high-value payments. For such transactions, a bank account is crucial to efficiently manage financial activities, especially in a business context where cash on delivery might not always be a practical option.

Card Payments

The well-developed banking infrastructure in Slovenia offers a range of traditional payment methods; debit and credit card payments are widely accepted, providing convenience for both consumers and businesses. The use of payment cards has become commonplace, with contactless technology gaining popularity. It offers a swift and secure way to conduct transactions in various establishments by providing payment information during the mobile payment process.

Bank Transfer Payments

Slovenia's adoption of real-time payment systems represents a significant advancement in transaction speed. These systems enable instant fund transfers between banks, reducing transaction times to mere seconds. This is particularly beneficial for businesses that require quick and secure transactions in Slovenia’s evolving marketplace. However, to utilize bank transfer payments, one must have an account with a bank in Slovenia. For nonresidents, who often face challenges in opening local bank accounts, innovative platforms like WeavePay offer a practical solution, providing alternative ways to engage in financial transactions. 

Digital Wallets

A digital wallet is another alternative payment method in Slovenia. It accepts online payments for shoppers who make online purchases. Its online payment services are fast and easy. 

Common Payment Networks in Slovenia: Facilitating Global Connectivity
SWIFT: Streamlining International Transactions

SWIFT (Society for Worldwide Interbank Financial Telecommunication) holds paramount importance in Slovenia, streamlining international transactions and cross-border payments for the country's robust participation in the global economy. Slovenian banks rely on SWIFT for standardized and secure communication, facilitating efficient cross-border transactions critical for international trade. 

The platform also plays a key role in maintaining correspondent banking relationships, providing Slovenian financial institutions access to global financial markets. When it comes to SWIFT money transaction fees, there are several costs that you may have to pay depending on the type of transfer and the bank you are using. 

This cost may include an outgoing wire transfer fee for sending your SWIFT payment, an incoming payment fee to receive money in your account through SWIFT, A foreign exchange fee to convert your payment into another currency, and A SWIFT tracing fee to check on the progress of your payment.

SEPA: Harmonizing Eurozone Transactions

SEPA (Single Euro Payments Area) holds paramount importance in Slovenia, streamlining cross-border transactions within the Eurozone. It allows you to transfer money between two bank accounts within SEPA. With standardized payment processes and the common use of the Euro, SEPA enhances connectivity, reduces complexities, and fosters cost-effective, efficient financial transactions. 

This harmonized framework facilitates seamless cross-border trade, aligns Slovenia's payment systems with European standards, and contributes to the nation's economic integration and financial stability within the broader European Union, ensuring the smooth flow of funds and promoting economic collaboration on an international scale. To make transactions outside Europe, you must make a non-SEPA international transfer and an international bank account with the international bank account number is needed.

There is no transaction fee using SEPA; a SEPA transfer is usually free of charge with an execution time of one working day, whether you send a domestic transfer from a resident bank account or a cross-border transfer to a non-resident bank account of any SEPA country. Also, an average non-SEPA international transfer takes 4 to 5 working days. However, there are fees associated with international transfers due to the cost associated with interbank networks. 

WeavePay: Pioneering Financial Solutions Beyond Borders

WeavePay is a licensed Electronic Money Institution (EMI) under the UK's Financial Conduct Authority (FCA); WeavePay stands out as a beacon of innovation in the financial landscape. The institution differentiates itself through personalized compliance reviews, allowing it to navigate intricate business structures with adaptability. Some of the key features of using WeavePay include:

  • 30+ currencies
  • 24/7 access to your money
  • 48-hour onboarding
  • Personalized, human support

Our meticulous approach enables it to understand and accept unique cases that others might decline. Despite its adaptability, WeavePay maintains a strict policy against involvement with high-risk sectors such as gambling and crypto, so you can rest assured that your funds are safe with us. However, we are not a bank. Instead, we proudly function as a licensed EMI, delivering specialized financial services that transcend conventional banking offerings. This includes a suite of services catering to the evolving needs of businesses and individuals engaged in international transactions. 

Check if you qualify for an account today.