The volume of transfers between individuals has increased nearly sixfold from 2021 to 2023, reaching 20 billion lei. With the launch of the MIA instant payment system, the number of cashless transactions continues to grow. As part of an informational and financial education campaign, the National Bank of Moldova (BNM) has provided a series of recommendations regarding domestic and international money transfers.

According to BNM, when making a transfer, it is important to research options, compare costs, and review execution times to select the most advantageous method for transferring funds. Next, the payment order should be filled out, the transfer confirmed, and proof of the transaction retained in case of any disputes.

All payment service providers in Moldova facilitate quick transfers between accounts, usually through mobile or web applications. Transfer fees are minimal, and these methods ensure secure transactions.

Another option is using the MIA instant payment system, implemented by NBM in March 2024. This system allows transfers to be made within seconds using only the recipient's mobile phone number or account number. For a cumulative monthly amount of up to 10,000 lei, no commission is charged.

Card-to-card (P2P) transfers are also a secure option. The procedure is simple, and the transfer is completed in seconds. Fees are zero or very low when transfers occur between cards issued by the same bank. However, fees may be higher if the cards are from different banks.

For international transfers, payment service providers in Moldova work with systems like SWIFT. While these transfers have higher costs, they are suitable for transferring large amounts, typically over 5,000 euros or dollars.

International money transfer services like Western Union, MoneyGram, RIA Money Transfer, and Intel Express are available in Moldova. These services provide quick international transfers and can be used for both sending and receiving funds in the country.

BNM advises that large sums of money should not be accessed through overly simple solutions. For example, salaries should be transferred to a separate payment account rather than used daily for physical or online purchases.

Additionally, specialists recommend making significant payments through fund transfers with clear registration of the payment recipient and purpose. This is mandatory for transfers exceeding 200,000 lei.