About SEPA

About SEPA


The single euro payments area (SEPA) harmonizes the way cashless euro payments are made across Europe. It allows European consumers, businesses and public administrations to make and receive credit transfers, direct debit payments, and card payments under the same basic conditions.
SEPA covers the whole of the EU. Other countries and territories which are part of the geographical scope of the SEPA Schemes are: Andorra, Iceland, Norway, Switzerland, Liechtenstein, Monaco, San Marino, United Kingdom, Vatican City State, Mayotte, Saint-Pierre-et Miquelon, Guernsey, Jersey and Isle of Man.
The advantages of SEPA:
  • single system for both domestic and cross-border bank transfers
  • cross-border transactions by direct debit, that is to charge directly an account in one country for services provided in another country
  • cheaper, safer and faster cross-border payments and more transparent pricing thanks to the single set of payment schemes and standards
  • allowing students and employees in another SEPA country to use an existing account in their home country to receive their salary or pay bills 

The European Payments Council (EPC) has created three SEPA payments schemes. Each scheme is a set of interbank “rules, practices and standards” that defines a payment instrument: SEPA Direct Debit (SDD), SEPA Credit Transfer (SCT), and SEPA Cards Framework (SCF).

The payment services directive 2007/64/EC lays out the legal foundation for SEPA.
The SEPA regulation (EU) No 260/2012 sets the rules establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009.

SEPA payments
  • SEPA payments are made in EUR
  • Incoming SEPA payments are free
  • Outgoing SEPA payments (up to €50,000) - €5.00 for a transfer
  • SEPA transfers take 1-2 business days to arrive in the beneficiary's bank account


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