Moldovans save €6 million in first year of SEPA
Moldovan citizens have saved over 6 million euros through transfers made within the Single Euro Payments Area (SEPA). One year after its implementation, Anca Dragu, the governor of the National Bank of Moldova (BNM), stated that SEPA has become the primary channel for cross-border euro payments in the Republic of Moldova. This has significantly transformed the way money moves to and from Europe.
Today, citizens of the Republic of Moldova can make money transfers with conditions comparable to those in the European Union: faster, safer, and at significantly lower costs.
By joining the Single Euro Payments Area (SEPA), Moldova has demonstrated its commitment to integrating modern European financial standards, bringing tangible benefits for both individuals and the economy. This milestone marks a strategic step in Moldova's journey toward European integration, according to the governor of the National Bank of Moldova (NBM).
Anca Dragu signed the application for SEPA membership on January 30, 2024. On March 6, 2025, Moldova was officially included in the SEPA geographical area. Transfers that adhere to European standards will be available starting October 6, 2025, when the system becomes operational.
Transaction fees have decreased from over 20 euros to just 1.26 euros each.
Since Moldova connected to SEPA, over 377,000 transfers have been conducted, which would have cost the national economy 6.6 million euros under the traditional SWIFT system. According to NBM estimates, the total costs under SEPA have amounted to 474,000 euros, resulting in a savings of 6.11 million euros for the Moldovan budget.
Governor Anca Dragu highlighted that the Republic of Moldova's entry into the SEPA payment system has proven the country's ability to be competitive and trustworthy in its relations with international partners.
Just a few months after its implementation, 73% of euro transfers made by Moldovans were processed through SEPA. By February 2026, this percentage increased to 81%.
On average, the banking system now processes an additional 1,301 transactions per day, and companies have conducted imports totalling more than 1.7 billion euros through SEPA.
“SEPA demonstrates that SEPA integration strengthens the irreversible rapprochement with the European economic space. For the National Bank of Moldova, SEPA does not only represent the achievement of a technical objective, but a firm commitment that the benefits of European integration are felt directly by people and the economy”, declared Anca Dragu.
The Governor also said that it is an important step towards an economy better anchored in the European space. Joining SEPA, along with the development of the MIA Instant Payments system, strengthens a modern, secure and efficient financial ecosystem, oriented towards the needs of citizens and the business environment.
SEPA brings together all the Member States of the European Union, as well as the United Kingdom, the countries of the European Economic Area, Switzerland, Andorra, Monaco, San Marino and the Vatican and allows transfers in euros between payment systems between participating countries, under the same conditions of cost, security and processing time, regardless of borders.
