European Commission welcomes Moldovan banks joining SEPA schemes

The European Commission has welcomed 40 banks from Moldova and also Albania, Montenegro and North Macedonia, which officially joined the Single Euro Payments Area (SEPA) schemes.

In a press release, published on 16 October, the Directorate-General for Enlargement and Eastern Neighbourhood (DG ENEST) said “this historic development” was set to make euro transactions between these four partners and the European Union more reliable, faster, and cheaper, potentially saving up to €500 million for individuals and businesses. For small and medium-sized enterprises, it will also simplify international transactions and enhance cross-border trade.

“Our work does not stop here,” said Commissioner for Enlargement Marta Kos. “We will continue to strive for the full operationalisation of SEPA schemes for our candidate countries, bringing their citizens and businesses even closer to the European Union.”

The decision was made by the European Payments Council after the four countries entered SEPA’s geographical scope – Albania and Montenegro in November 2024, and North Macedonia and Moldova in March 2025. These EU initiatives aim to accelerate the socio-economic integration of these regions into the European Union, including by providing gradual access to certain areas of the EU Single Market, in line with EU standards and regulations.

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Press release