Moldova Joins Single Euro Payments Area

As of October 6, Moldova has become a full member of the Single Euro Payments Area (SEPA), National Bank Governor Anca Dragu announced, Orda.kz reports, citing NewsMaker.

Moldova’s integration into SEPA is a historic moment for the national financial system and a confirmation of the country’s European course. This achievement removes administrative barriers and brings European standards directly into the daily lives of people and businesses in the Republic of Moldova,
Dragu said.

SEPA unites 41 European countries, allowing individuals and businesses to make euro transfers quickly and at low cost — often free. Under EU rules, cross-border SEPA transfers must cost no more than domestic ones.

Moldova became an EU candidate country in June 2022. Two years later, the European Union officially began accession talks with Chişinău.