Ten months of SEPA in Moldova: 8 in 10 euro transactions now go via SEPA, savings exceed €13 million
Published:
Author: SEPA.tr — Editorial
Period: 6 October 2025 – July 2026 · Confidence level: A (official National Bank of Moldova statement)
The National Bank of Moldova (BNM) published the results of the first 10 months of SEPA on 10 August 2026. This updates the ~829,000 transactions figure for October 2025 – June 2026 we reported earlier.
Ten months in numbers
| Indicator | Value |
|---|---|
| SEPA transfers (since 6 October 2025) | ~960,000 |
| SEPA share of euro transactions | ~8 in 10 |
| Estimated cost of the same volume via SWIFT | ~€14.2 million |
| Actual cost via SEPA | ~€1 million |
| Estimated savings | ~€13.2 million |
| Average fee per transaction | €20–150 → €1.09 |
| Extra transactions per day | ~1,750 |
| Total euro payment value (Oct 2025–Jul 2026, year on year) | €9.3bn → €14.6bn (+57%) |
The SWIFT comparison is the BNM’s own estimate. Actual savings depend on banks’ SWIFT tariffs and transaction sizes.
Why it matters for Türkiye
Moldova is in the same segment as Türkiye would be: in SEPA but not in the EU/EEA and not using the euro (Moldovan leu, MDL).
- Transfer fees fell sharply, but SEPA transfers did not become free. An average of €1.09 is still a fee.
- In a non-euro country the main cost is often the exchange-rate margin on MDL→EUR conversion, which the BNM figures do not include. Estimate it with the local currency → EUR cost tool.
- SEPA reached volume in Moldova through bank participation. According to the EPC’s August 2026 data, 8 banks in Moldova are registered for SCT (details). A country joining SEPA does not mean every bank offers the service.
Current status of Türkiye’s process: Turkey & SEPA status