Moldova Officially Joins SEPA, Revolutionizing Euro Payments

Historic Accession to SEPA Confirmed

The Republic of Moldova has officially joined the Single Euro Payments Area (SEPA), marking a significant step in its financial integration with Europe. The European Payments Council (EPC) approved Moldova's inclusion into the geographical scope of SEPA on March 6, 2025. This decision paves the way for Moldovan financial institutions to become fully operational for SEPA transfers by October 5, 2025, with commercial banks beginning to process transfers as of October 6, 2025.

The announcement was made by Anca Dragu, Governor of the National Bank of Moldova (NBM), who emphasized the strategic importance of this development. Speaking at Moldova Business Week 2025 on September 15, 2025, Dragu stated that Moldova would connect to SEPA in 'just a few weeks', reinforcing earlier declarations.

Significant Economic Benefits Anticipated

Moldova's accession to SEPA is expected to bring substantial economic advantages for both its citizens and businesses. Key benefits include:

• Reduced Transaction Fees: International euro transfers, which previously cost tens or even hundreds of euros, are projected to drop to just a few euros. For transfers up to 200 euros, costs could be as low as 1-2 euros or even 50 cents.
• Faster and Safer Payments: SEPA standardizes cross-border euro payments, making them as efficient and secure as domestic transactions.
• Enhanced Business Competitiveness: The elimination of additional fees and delays for companies will streamline commercial payments within the EU, making Moldovan businesses more competitive in the international market.
• Annual Savings: Estimates suggest Moldova will save approximately 12 million euros annually, with potential savings reaching up to 20 million euros in the medium term.
• Support for Diaspora: Moldovans working abroad will benefit from cheaper and quicker remittances to their families back home.

Governor Dragu highlighted that this integration 'strengthens the effort to modernize and align the payment system with European standards'.

Implementation and European Integration

The journey to SEPA membership began with Moldova's official application in January 2024. Following approval by the EPC in March 2025, financial institutions in Moldova commenced onboarding in April 2025. Currently, seven commercial banks have been accepted into the Register of Participants in the SEPA system, with others preparing their applications. The process has been coordinated by the National Bank of Moldova and implemented through the Moldovan Banks Association (ABM).

This move is widely regarded as a 'historic milestone' and a clear demonstration of Moldova's commitment to aligning with the highest European financial standards. It signifies Moldova's serious progress towards EU alignment and access to eurozone infrastructure, even prior to full EU membership, reinforcing the country's 'irreversible path toward European integration'.