How to make a money transfer within the country and/or abroad
Automatically translated summary. The full text is available in Romanian.
A financial education note produced by the National Bank of Moldova and the Independent Think Tank “Expert-Grup” explains how to choose and make domestic and international money transfers in Moldova. It covers the main services, including the new MIA instant payment system launched on 12 March 2024, and offers security advice.
Transfers between individuals (P2P) grew almost sixfold between 2021 and 2023, reaching MDL 20 billion. The note lists steps to follow: compare costs, deadlines and exchange rates, gather recipient details, complete the payment order, verify the amount and keep proof. It advises using two to four services and reviewing alternatives yearly.
The options described are transfers between local accounts, MIA, card-to-card P2P transfers, SWIFT transfers (convenient for sums usually above EUR or USD 5,000), national remittances and international ones via Western Union, MoneyGram, RIA Money Transfer and Intel Express. MIA allows up to MDL 5,000 per transaction to individuals and MDL 100,000 to legal entities, with no fee up to MDL 10,000 cumulatively per month. Key advice: keep large sums in a payment account and carry a card with only the needed amount, make major payments by bank transfer, prepare documents on the origin and purpose of transfers above MDL 200,000, and never share SMS codes or CVV.
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