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Implementation of IBAN use for payment transactions in MDL

Dear Customers,


As from 01 January 2016 it will be necessary to use the IBAN code* when making both ordinary and budget funds transfers within Moldova.


There will be a 12-month transitional period for ordinary transfers, meaning that until 31 December 2016 you can send payment orders to the Bank using either the IBAN (new format), or the older method using the account number and the bank code (current format). This will give you ample time to obtain the IBAN codes for the beneficiaries of any payment orders you submit to the Bank.


There will be no transitional period for budget transfers, therefore, from 01 January 2016, payments to the national public budget can only be made if you indicate the appropriate IBAN codes in the payment order. This applies to you as the Payer, and for the Beneficiary.


For full information regarding the use of IBAN code for transferring funds for the benefit of the national public budget, please see the official web page of Ministry of Finance . The Ministry of Finance’s Order no. 180 of 10 December 2015 is published here Ordinul Ministrului Finanţelor nr. 180 din 12.10.2015, along with the appropriate Annexes. 


The Official Gazette (Monitorul Oficial) explains Order no. 180 and the new method of making and accounting for payments to the national budget through the Ministry of Finance treasury system as from 2016. Also, it is indicated that you can find IBAN codes from Ministry of Finance’s web page, by choosing economy classification code, the district where you are and the statistical code of your village based on administrative-territorial units classification.


We advise you to get acquainted with these documents and, if you are uncertain about the IBAN code to be used when making payments to the national public budget, please contact the IFS office responsible for you before 01 January 2016.

This will ensure that you are using the correct IBAN code in your transfer orders for each separate payment to the national budget and this this way you can prevent any possible delays to your payments.

* IBAN code
- is a string of 24 characters that uniquely identifies a client's account in any currency from a financial institution, without the need for manual data conversion, and has the following meaning:


a) the first two characters ( alphabetic ) - is the country code ( " MD " for Moldova) ;


b ) the next two characters (numeric ) - is the control code ( "25" in the example below ) ;


c ) the next two characters ( alphanumeric ) - is the bank identifier code ( Bank - " PR " in the example below ) , awarded by the National Bank of Moldova ;


d ) the next eighteen characters ( alphanumeric ) - contains the client's account opened in the bank (account opened in the bank has 16 characters , plus two zeros added to the account, "002225999999999498 " in the example below ) .



For additional information please call 0800 000 10.

Best regards
Your ProCredit Bank Team