Online transfers paid out in Moldovan lei are subject to 0.49% commission, minimum €/£1. Moneyto offers new service to customers in Europe and UK.
Sending money in pounds sterling or euro to be paid in Moldova currency is a great way to avoid double currency conversion, and such transfers benefit from a preferred conversion rate set by Moneyto at the time of sending.
Transfers sent from Moneyto.co.uk website for payment in lei are instantly available for cash pickups in more than 450 branches of Energbank, Moldova Agroindbank, Fincombank, Victoriabank and Eximbank in cities and towns across Moldova.
National Bank of Moldova estimates net transfers to private individuals in Moldova between January and October 2017 at $988.3 million, a 9.6% increase year-on-year. Moneyto Ltd analysts believe Moneyto has approximately 15% share in all money transfers from the UK to Moldova.
“We trust this service will be in demand as approximately 20% of transfers to Moldova are made in its national currency. Some of our existing customers will appreciate this new service, and we will be able to cater to new customers who would prefer sending money home in lei”, said CEO of Moneyto Ltd Galina Selicka.