National Bank of Moldova confirms positive decision admitting Moldova to SEPA

The National Bank of Moldova published an overview confirming that Moldova has received a positive decision to join the Single Euro Payments Area (SEPA), enabling euro payments with SEPA countries to be made under the same conditions as domestic payments and with significantly lower cross-border costs. It also clarified that SEPA participation does not mean adopting the euro, with Moldovan bank accounts remaining in Moldovan lei (MDL) while allowing more efficient euro transfers. The application was signed on 30 January 2024 and the positive decision was announced in Brussels on 6 March 2025. The National Bank of Moldova highlighted expected fee reductions, including illustrative drops from EUR 20 to 25 to around EUR 0.50 to 1 for EUR 500 to 1,000 remittances and from EUR 210 to around EUR 2 for transfers above EUR 70,000, and estimated economy-wide savings of around EUR 12 million per year immediately and up to EUR 20 million in the medium term. It attributed readiness to legislative and supervisory alignment, including transposition of the Payment Services Directive (PSD2), the Funds Transfer Regulation and anti-money laundering directives, coordinated with domestic authorities. A technical implementation period of a few months is expected to connect and integrate Moldova’s banking infrastructure before SEPA services become available to users. Each bank will decide how and when to align its services to SEPA standards under a timetable set by the National Bank of Moldova and EPC, with most banks expected to connect indirectly via European partners.