Regulatory Alerts2023-06-08
Regulation on Credit Transfers, Direct Debits, and IBAN Code Assignment
The National Bank of Moldova issued this regulation to standardize the execution of domestic and cross-border credit transfers and direct debits by licensed payment service providers. It mandates the exclusive use of IBAN codes for account identification, defines mandatory elements for payment orders and direct debit mandates, and requires fully automated electronic processing through the Automated Internal Payment System and SWIFT networks. The framework additionally enforces ISO 20022 messaging standards for SEPA euro transactions, imposes strict daily reporting obligations to the central bank, and aligns all payment operations with national foreign exchange and data protection laws.
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