Moldovans save almost 15 million euros in one year through SEPA transfers; Governor of National Bank of Moldova: “Trust is built on a strong banking sector”

Citizens and companies of Moldova saved almost 15 million euros during October 2025-August 2026 thanks to transfers made through the Single Euro Payments Area (SEPA). On this period, approximately 1.1 million transfers were made, while the average fee fell to around one euro per transaction. Governor of the National Bank of Moldova (BNM) Anca Dragu today presented data to this effect at the opening of the eighth edition of the Fintech Moldova Conference.

According to the governor, Moldova’s connection to SEPA, which became operational on October 6, 2025, facilitated euro transfers and reduced costs for citizens receiving money from abroad, as well as for companies working with European partners. Presently, nine of the country’s ten banks can process transfers through this system.

“For families receiving money from abroad and businesses working with European partners, these changes mean lower costs and faster access to funds. European integration is also measured in time and money saved,” said Anca Dragu.

In her speech, the BNM governor emphasized that the stability of the banking sector and the modernization of payment services were creating conditions for the development of financial innovation in Moldova. At the end of the first half of 2026, the banks’ total capital adequacy ratio stood at 24.3 per cent, compared with the minimum requirement of 10 per cent, while banking institutions complied with prudential liquidity requirements.

“Trust is built on a strong banking sector that supports the modernization of services and the financing of the economy. (...) This strength enables the development of new financial services and the responsible management of the risks associated with them,” the governor said.

One example of the modernization of payment services is the MIA system, launched in March 2024. It has more than one million users and has processed over 31 million transactions, with a total value of 28.5 billion lei. The system allows transfers to be made within seconds, using a phone number and has been expanded to include payments to merchants, public institutions and between companies.

Another area of development is Open Banking, which allows authorized providers to offer services tailored to users’ needs. They include viewing accounts held at different financial institutions in a single application and initiating payments.

Anca Dragu noted that the expansion of digital financial services must be accompanied by measures to protect data, prevent fraud and ensure operational continuity. According to her, clear regulations and proportionate supervision are important for fostering innovation and maintaining users’ trust.

The governor also highlighted the BNM’s role in the European integration process, with the institution directly involved in three chapters of the accession negotiations: free movement of capital, financial services and economic and monetary policy. Aligning the regulatory framework and modernizing financial infrastructure aim to strengthen investors’ confidence and create conditions for the development of fintech companies.

The Fintech Moldova Conference brings together representatives of the financial sector, technology companies, investors and international experts. The event provides a platform for exchanging experience and developing partnerships in the digital transformation of the financial sector from Moldova and the region.