Data released by the National Bank of Moldova (BNM) show that the new system has quickly become the primary channel for cross-border transfers in euros.
Nearly eight out of ten cross-border transactions in euros are now processed through SEPA—a system that allows payments to be made faster and at a much lower cost than SWIFT or other traditional mechanisms.
20 to 150 times cheaper
One of the most significant changes is the substantial reduction in the cost of cross-border transfers in euros.
In the traditional system, where payments were processed via SWIFT, a transfer could cost between 20 and 150 euros. With SEPA, the average cost has dropped to approximately 1.09 euros.
Since the Republic of Moldova joined the European system, approximately 960,000 transfers have been processed. According to estimates by the National Bank of Moldova, if all these transfers had been made via SWIFT, the total cost would have been about 14.2 million euros.
Transferring money through other payment systems would have been even more expensive.
With SEPA, the costs totaled only about one million euros. The difference represents savings of about 13.2 million euros for system users.
The number of transactions has increased
However, the benefits of joining SEPA are not limited to lower fees. The National Bank of Moldova states that the number of transactions processed daily in the banking system has increased by approximately 1,750.
The institution believes that faster and cheaper transfers have contributed to increased economic activity by facilitating the flow of money between the Republic of Moldova and European countries. In particular, Moldovan citizens working abroad have begun to send money in cash less frequently and use banking services more often.
Between October 2025 and July 2026, the total value of transactions reached approximately 14.6 billion euros. During the corresponding period in the previous year, when payments were made exclusively through the SWIFT system, their value amounted to approximately 9.3 billion euros.
This represents an increase of approximately 57%.
