Seven out of ten banks in Moldova have joined the Single Euro Payments Area (SEPA) - the NBM
The National Bank of Moldova announced this, noting that all seven commercial banks in Moldova that applied to join the Register of Participants in the Single Euro Payments Area (SEPA) payment system have been accepted. According to the decision of the European Payments Council, accredited banking institutions must implement a number of technical adjustments necessary to ensure interconnectivity so that they can effectively carry out transfers in SEPA from October 6. As stated by Anca Dragu, Governor of the National Bank of Moldova (NBM), this decision will bring significant benefits to citizens and the national economy, but also joy to those who contributed to this process - the NBM team, which managed to bring Moldova into the European payment area in a short period of time. “This means a reliable financial bridge for citizens, wherever they are. Thanks to this commitment, we are connecting families, supporting the Diaspora, making people's lives easier, and contributing to the development of Moldovan companies. Transfers are becoming faster, safer, and cheaper, and each transaction brings us closer to the standards of a modern and fair European economy,” emphasized the head of the National Bank. The process is coordinated and supported by the NBM and implemented by the Moldovan Banks Association, as the National Adherence Support Organisation (NASO). “Our goal is the full integration of Moldova's banking sector into the European payment system, which will contribute to improving consumer services, supporting the business environment, and accelerating the country's European integration process,” said Dorel Noroc, president of the Moldovan Banks Association, who also reported that three other licensed banks in Moldova have already prepared their dossiers for connection. Moldova was officially included in the SEPA zone on March 6, 2025. This initiative complements the structural reforms implemented by the NBM and supports Moldova's strategic goal of becoming an integral part of the single European market. SEPA (Single Euro Payments Area) is a European initiative that allows cross-border payments in euros to be made under conditions similar to those applicable to domestic payments. The system eliminates differences between domestic and international payments and covers all EU countries, as well as other participating countries and territories. // 12.02. 2025 — InfoMarket
