The European Commission has welcomed the official accession of 40 banks from the Republic of Moldova, Albania, Montenegro, and North Macedonia to the Single Euro Payments Area (SEPA), according to a statement issued by the EU Executive.
The Commission described the move as a historic milestone that will make euro transactions between the four partner countries and the European Union faster, safer, and less costly — potentially saving individuals and businesses up to €500 million.
For small and medium-sized enterprises, SEPA integration will simplify cross-border payments and foster stronger regional trade, the statement added.
“Today we celebrate the tangible results of our continuous efforts toward the gradual integration of candidate countries into the EU. Our work does not stop here — we will continue to strive for the full operationalization of SEPA systems for our candidate countries, bringing their citizens and businesses even closer to the European Union,”said European Commissioner for Enlargement Marta Kos, cited by News.ro.
The European Payments Council approved the decision after the four states officially entered the SEPA geographical area — Albania and Montenegro in November 2024, and North Macedonia and the Republic of Moldova in March 2025.
According to the European Commission, this development represents a concrete result of the EU Growth Plan for the Western Balkans and for Moldova, aligning national financial and regulatory frameworks with EU standards. The initiative aims to accelerate socio-economic integration and provide gradual access to areas of the EU Single Market in line with European norms and regulations.