Moldova is making decisive progress towards financial integration in the European space: commercial banks in the country have officially submitted the first applications to connect to SEPA (Single Euro Payments Area). This event marks a key milestone in aligning the payment infrastructure with EU standards.
The process is coordinated by the National Bank of Moldova (BNM) in partnership with the Banking Association of Moldova (ABM), which acts as the National Support Organization for Accession (NASO).
“Joining SEPA means a real opening to the European Union, a secure financial bridge between Moldova and its citizens, no matter where they are. Transfers become faster, safer, and cheaper, and each transaction brings us closer to a modern, fair European economy,” said Anca Dragu, Governor of BNM, during the submission of the applications.
FOR THE MOST IMPORTANT NEWS, FOLLOW US ON TWITTER!
Moldovan banks are initiating the integration process into SEPA Credit Transfer (SCT). This step is crucial in ensuring that euro payments will be processed under the same conditions as in SEPA member states.
The benefits of joining SEPA include faster and safer euro transfers to the 40 SEPA member countries, reduced costs and bank fees, and increased transparency and efficiency for citizens, the diaspora, and the business environment.
“Joining SEPA is not just a technical step – it’s a commitment to European standards and concrete support for citizens and companies operating internationally,” emphasized Dorel Noroc, President of ABM.
Moldova officially joined the SEPA zone on March 6, 2025, and the submission of these applications confirms the country’s firm determination to integrate its national financial system into the European payments network, aligning with its strategic goal of becoming part of the European single market.
SEPA is a pan-European initiative that removes the differences between national and international euro payments, offering the same transaction conditions across all participating countries, including non-EU states.