SEPA
TL;DR
SEPA (Single Euro Payments Area) is the EU standard framework for euro transfers, where cross-border payments are treated as domestic.
SEPA unites 36 countries (27 EU + UK, Switzerland, Norway, Andorra, etc.) into one euro payment area. Standards: IBAN, BIC, XML formats (pain.001, pain.008). SEPA Credit Transfer is the standard transfer; SEPA Instant settles within 10 seconds 24/7. SEPA Direct Debit handles B2C and B2B automatic collection.
Example
A Dutch company sends a euro transfer to a German supplier. SEPA standards ensure the tx is treated as domestic: same fee, same processing time.
Frequently asked questions
What is SEPA Instant?
SCT Inst: 10-second settlement, 24/7/365, up to €100,000 per transaction (limit growing). Mandatory for all EU banks since 2025.
Related terms
Further reading
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