Ten months after the Republic of Moldova became operationally connected to the Single Euro Payments Area (SEPA) [1] on 6 October 2025, citizens and businesses have saved approximately EUR 13.2 million.
SEPA has become the main channel for the Republic of Moldova’s cross-border euro payments. Today, citizens benefit from faster, safer transfers at significantly lower costs, sometimes even with zero fees. Wherever they are in Europe, they can send money to Moldova under the same conditions as within the EU.
The rapid adoption of the new payment infrastructure – with nearly 8 out of 10 transactions now processed through SEPA – reflects citizens’ confidence in the system and strengthens the Republic of Moldova’s integration into European financial networks. Moldovan companies now operate under the same payment standards as EU companies, while lower transfer costs enhance their competitiveness in international markets, allowing them to transact in euros under the same conditions as their European partners.
Joining SEPA has fundamentally changed the way money flows to and from Europe, bringing concrete and immediate benefits to citizens, the diaspora, businesses, and the economy as a whole:
- The average cost of a cross-border euro transfer has fallen from fees ranging between EUR 20 and EUR 150 to EUR 1.09 per transaction;
- Under the traditional SWIFT system, the 960,000 transfers made since Moldova’s connection to SEPA would have cost the national economy EUR 14.2 million. Through SEPA, the cost was only EUR 1 million, meaning that EUR 13.2 million remained in the Moldovan budget;
- The number of transactions processed daily by the banking system has increased by approximately 1,750, reflecting a more open and dynamic economy.
“Significantly lower transaction costs and the increase in the number of transactions confirm that we have achieved the objective for which we joined SEPA: cheaper payments for Moldovans and genuine connectivity to Europe’s financial architecture. The standardisation of payment procedures provides a direct boost to the competitiveness of our companies and strengthens economic ties with European partners. The money saved remains in the economy and supports the business environment, while our financial system becomes more stable, secure, and attractive to investors. Today, the Republic of Moldova has financial infrastructure compatible with European standards – a modern ecosystem that benefits both citizens and businesses,” said NBM Governor Anca Dragu.
In addition to generating significant savings, SEPA has contributed to increased economic activity in the Republic of Moldova. Lower costs and faster transfers have stimulated trade and financial flows: comparing the period October 2025–July 2026 with the corresponding period of previous years, when payments were made exclusively through SWIFT, the total value of transactions increased by approximately 57%, from EUR 9.3 billion to EUR 14.6 billion.
Timeline of the Republic of Moldova’s Path to SEPA
- 30 January 2024 [2]: NBM Governor Anca Dragu signed the official application for the Republic of Moldova to join the Single Euro Payments Area (SEPA), addressed to the European Payments Council.
- 6 March 2025 [3]: The Republic of Moldova’s accession to the SEPA geographical area was approved, confirming the maturity of its regulatory framework and payment infrastructure. The decision was announced by the NBM Governor Anca Dragu in Brussels.
- 6 October 2025 [4]: The Republic of Moldova became operationally interconnected for euro transfers through the SEPA system, bringing concrete benefits to citizens, the diaspora, and the business community.
What Is SEPA?
SEPA (Single Euro Payments Area) [1] is the European framework that enables euro transfers between the payment systems of participating countries under the same conditions in terms of cost, security, and processing time, regardless of national borders. SEPA brings together all European Union member states, as well as the United Kingdom, the countries of the European Economic Area, Switzerland, Andorra, Monaco, San Marino, and Vatican City.
Questions and answers about the benefits of joining SEPA [5]