Moldova has joined SEPA: Euro transfers are now fast and cheap, like in the EU

7 October 04:00

Moldova has officially become part of the Single Euro Payments Area (SEPA), which unites 41 European countries and provides citizens and businesses with fast, secure and inexpensive transfers in the EU currency. This was reported by the press service of the National Bank of Moldova, "Komersant Ukrainian" reports

This system unites 41 European countries and provides citizens and businesses with fast, secure and cheap money transfers in euros, according to the same standards as the European Union.

“Moldova’s integration into SEPA is a historic moment for our financial system and a confirmation of the country’s European course. This step removes administrative barriers and brings European standards closer to the daily lives of our citizens and businesses,” said Anca Dragu, Governor of the National Bank of Moldova, who coordinated the accession process.

What is SEPA?

SEPA (Single Euro Payments Area) is a European area of single payments in euros, which allows transfers between banks of participating countries under the same conditions as within one country.

SEPA includes all EU countries, as well as the United Kingdom, Norway, Iceland, Liechtenstein, Switzerland, Andorra, Monaco, San Marino, and the Vatican.

Benefits for citizens and businesses

For citizens and the diaspora, integration means that transfers in euros will become

faster (processing in minutes or hours);
safer (European financial security standards);
cheaper – sometimes even with zero fees, depending on the bank.

Whereas earlier international transfers could cost from 20 to 200 euros, now the cost of such transactions will be a few euros or even free. This means that migrant workers’ money will reach their families faster and without additional losses.

For businesses, participation in SEPA means equal conditions with European companies, simplified payments, reduced banking costs, and faster international trade.

In 2024, approximately 830 thousand transactions in euros have already been carried out between Moldova and SEPA countries, totaling 11.8 billion euros. Once fully integrated, these transactions will be more efficient and cheaper.

At the macro level, participation in SEPA will allow Moldova to save about 20 million euros annually, which will remain in the economy, contributing to investment and job creation.

Eight Moldovan banks are already in SEPA

As of October 2025, eight commercial banks in Moldova have already received the status of SEPA participants and can make euro payments according to European standards.

The National Bank advises clients to check with their banks for the terms and conditions of such transfers, including tariffs and the possibility of instant payments (SEPA Instant).

The integration process was coordinated by the National Bank of Moldova and the Association of Banks of Moldova (NASO – National Accession Support Organization). It is expected that in the near future non-bank financial operators will be able to join SEPA, which will expand the access of citizens to modern payment services.