Starting September 1 this year, Victoriabank customers — individuals and companies — will pay much less for money transfers from Victoriabank (Republic of Moldova) to Banca Transilvania. Both the sender and the recipient must hold an account with BT or Victoriabank.

Victoriabank has simplified the money transfer service, introducing a flat fee of 10 euros per transaction, regardless of the amount transferred in any of these currencies: euro, leu, Swiss franc or pound sterling. Transfers in US dollars are the exception and will continue to be charged as before.

Example: For a 100,000-euro transaction, Victoriabank customers now pay 10 euros instead of 250 euros.

This year, Banca Transilvania and the European Bank for Reconstruction and Development became shareholders in Victoriabank, one of the largest banks in the Republic of Moldova. They aim to continue growing the bank and to help strengthen the banking sector in the neighbouring country.