Moldova became an operational part of Single Euro Payments Area (SEPA) – infrastructure connecting 41 European countries and offering citizens and companies fast, secure and inexpensive, if not free, euro transfers.
While earlier an international transfer could cost from 20 to 200 euros, now it will be processed according to the same standards and tariffs as in the EU, the National Bank said. Eight Moldovan banks have already become participants of the European payment system.
“Moldova’s integration into SEPA is a historic moment for the national financial system and confirms the country’s European path. This achievement removes administrative barriers and brings European standards directly into the daily life of people and businesses in the country,” NBM Governor Anca Dragu emphasizes.
On the macroeconomic level, the integration into the SEPA zone provides direct savings estimated at about 20 million euros, which will allow to preserve resources. For the business environment, SEPA eliminates administrative barriers and puts Moldovan companies in equal conditions with European companies.
Statistics show that in 2024, about 830 thousand transactions in euros were carried out between Moldova and SEPA countries, totaling 11.8 billion euros. That is, more than 3200 payments amounting to about EUR 45 million were made daily. From now on, these financial flows will be managed much more efficiently and at lower costs.
The National Bank emphasizes that each customer should contact the bank where he or she is served to find out the terms and conditions of SEPA transfers, including tariffs and types of services available (standard payments or instant payments).
The accession process was coordinated by the NBM together with the Association of Banks of Moldova (ABM), represented by the National Accession Support Organization (NASM). The process of expanding the Moldovan network of operators is ongoing and other payment service providers, including non-bank operators, may become SEPA members in the coming period.
