The National Bank of Moldova published a one-year update on Moldova’s accession to the Single Euro Payments Area (SEPA), reporting that cross-border euro transfers are now being made on terms similar to those in the European Union, with SEPA becoming the main channel and costs falling sharply for households, the diaspora and businesses. Following operational interconnection on 6 October 2025, SEPA-processed transfers accounted for 81% of Moldova’s total euro payments. The average fee per transaction fell from over EUR 20 to EUR 1.26; for more than 377,000 transfers since interconnection, the National Bank of Moldova estimates costs of EUR 474,000 via SEPA compared with EUR 6.6 million via the traditional SWIFT channel, leaving EUR 6.11 million with users. The banking system is processing around 1,301 additional transactions per day on average. The central bank positioned SEPA as part of a broader payments-modernisation programme alongside the MIA Instant Payments system and reiterated the timeline from the application signed on 30 January 2024 to SEPA approval on 6 March 2025 and operational connectivity on 6 October 2025.
National Bank of Moldova 2026-03-06
National Bank of Moldova marks one year in SEPA with 81% of euro payments routed via SEPA and average transfer fees down to EUR 1.26
The National Bank of Moldova reported significant progress in Moldova’s accession to the Single Euro Payments Area (SEPA), now handling 81% of the country's euro payments. Since operational interconnection in October 2025, transaction fees have dropped from over EUR 20 to EUR 1.26, saving users EUR 6.11 million compared to traditional SWIFT transfers. This initiative is part of a broader payments-modernisation programme, including the MIA Instant Payments system.