President after Moldova's connection to SEPA
President Maia Sandu welcomed the connection of the Republic of Moldova to the Single Euro Payments Area (SEPA). In this context, the official said "closer to the European Union brings tangible results for our citizens".
The head of state noted that our country's accession to SEPA will allow money transfers between the Republic of Moldova and other EU states to be made without high fees.
"As of today, the Republic of Moldova is part of the Single Euro Payments Area. If until now a bank transfer from Europe cost between 20 and 200 euros, it will now be conducted at the same rates as in EU countries – with only a few euros. SEPA includes all EU member states, as well as other European countries such as Andorra, Switzerland, Iceland, Liechtenstein, Monaco, Norway, the United Kingdom, San Marino, and Vatican," said Maia Sandu.
As of today, 6 October the Republic of Moldova has become an operational part of the Single Euro Payments Area. This enables transactions in euros between participating countries' payment systems under the same conditions of cost, safety, and processing time, regardless of borders.
Statistics show that in 2024, about 830,000 transactions in euros were conducted between Moldova and SEPA countries with a total value of 11.8 billion euros, which is daily over 3,200 payments totaling 45 million euros.
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