The National Bank of Moldova (NBM) today marks one year since the Republic of Moldova’s operational connection to the Single Euro Payments Area (SEPA), which took place on 6 October 2025. During this period, SEPA has become the main channel for cross-border euro payments, directly connecting the national financial system with the European one and providing citizens, the diaspora and businesses with faster, safer transfers at significantly lower costs, sometimes even free of charge. Wherever they are in Europe, citizens can send money to Moldova under the same conditions as in the European Union (EU).

“During this first year, we have demonstrated that the Republic of Moldova can rapidly and successfully adopt European financial standards, turning European integration into tangible benefits for citizens and businesses. Whether we are talking about members of the diaspora sending money home or local companies conducting business with partners in the European Union, SEPA provides a safe, fast and affordable channel for euro transfers. Lower costs and more efficient cross-border payments mean more resources available to families, for investment and for business development. Alongside the immediate economic benefits, connection to SEPA strengthens confidence in the national financial system and brings the Republic of Moldova closer to the European single market,” said NBM Governor Anca Dragu on this occasion.

The rapid adoption of the new payment infrastructure - with almost 8 in 10 transactions now carried out through SEPA - reflects citizens’ confidence and strengthens the Republic of Moldova’s integration into European financial networks. Moldovan companies now operate according to the same payment standards as EU businesses, while lower transfer costs increase their competitiveness in international markets, enabling them to trade in euros under the same conditions as their European partners.

Joining SEPA has fundamentally changed the way money flows to and from Europe, bringing tangible and immediate benefits to citizens, the diaspora, businesses and the economy as a whole:

• The average cost of a cross-border euro transfer has dropped from fees ranging between EUR 20 and EUR 150 to around EUR 1 per transaction.
• Under the traditional SWIFT system, the 1.2 million transactions carried out since Moldova connected to SEPA over these twelve months (October 2025 - September 2026) would have cost the economy approximately EUR 17.7 million. Through SEPA, costs amounted to only EUR 1.3 million, meaning that EUR 16.4 million remained in the Moldovan budget.
• The number of transactions processed daily by the banking system has increased by approximately 1,877, reflecting a more open and dynamic economy.

The Republic of Moldova’s connection to SEPA formed part of a broader process of modernising the national payments infrastructure, alongside the development of the MIA Instant Payments system, which has quickly become a regional model of best practice. Together, these initiatives are strengthening a modern, secure and efficient financial ecosystem focused on the needs of citizens and businesses.

By aligning with European payment standards, the Republic of Moldova is strengthening its integration into the European financial area and laying the foundations for increasingly rapid interconnection with the European Union’s economy.

Timeline of the Republic of Moldova’s journey towards SEPA

• 30 January 2024: 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: Approval of the Republic of Moldova’s accession to the SEPA geographical area, confirming the maturity of its regulatory framework and payment infrastructure. The decision was announced by NBM Governor Anca Dragu from Brussels.
• 6 October 2025: Operational interconnection of the Republic of Moldova for euro transfers through the SEPA system, bringing tangible benefits to citizens, the diaspora and businesses.

SEPA (Single Euro Payments Area) is the European framework that enables euro transfers between payment systems in participating countries under the same conditions in terms of cost, security and processing time, regardless of 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/answers about the benefits of joining SEPA