On 12 July, the Council of the European Union made the decision on Croatia’s entry into the Eurozone. This decision was preceded by the European Commission’s and European Central Bank’s progress report, which took a highly positive view of Croatia.
Preparations for euro adoption have been in progress throughout 2022. Zagrebačka banka is working hard to prepare and upgrade its system to make the transition to the euro as easy and simple for our clients as possible.
On 1 January 2023, when the euro becomes the official currency in Croatia, all amounts denominated in HRK in the deposit, savings and transaction accounts at the Bank, along with all credit amounts denominated in HRK, will be converted to EUR automatically and free of charge at the fixed exchange rate of HRK 7.53450 per EUR. Clients will not need to come to the Bank for the conversion.
The adoption of the euro will have no effect on the unique transaction account number (IBAN), which will remain the same. Debit cards and PINs will likewise not change.
As one of the first changes in our preparations to adopt the euro, the Bank will soon start to simultaneously display prices and amounts for consumers in HRK and in EUR as required by law, which will continue until 31 December 2023.
All HRK currently circulating in the market will be withdrawn from circulation and its use will no longer be allowed after 14 January 2023. As of 1 January 2023, people will only be able to make EUR withdrawals at ATMs.
Considering that we have a substantial number of ATMs and need to adapt them to the EUR banknotes, our ATM network will operate according to a specific plan in December 2022 and January 2023. More information will be available on the Bank’s website.
For twelve months following the euro adoption date, people will be able to exchange HRK to EUR free of charge and at the fixed exchange rate at all bank offices, the Financial Agency (FINA) and the Croatian Post.
After 1 January 2024, Croatian National Bank will be the only entity authorized to convert cash in HRK into EUR:
Croatia will become the 20th country to adopt the euro as its official currency. Around 340 million citizens of the European Union are already using the euro.
The national informational campaign will be up and running soon, and Zagrebačka banka’s clients will receive a general and individual notice containing detailed information in line with legal regulations.
All latest news about the adoption of the euro is also available at www.euro.hr.
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