Single Euro Payments Area (SEPA)

SEPA money transfers are a European Union (EU) initiative for harmonizing payments across Europe. The goal is to simplify cross-border money transfers in euros. SEPA money transfers across Europe are as easy and convenient as domestic money transfers by using the same payment instruments.

SEPA Direct Debit (SDD) is a payment method that allows businesses to directly pull funds from a customer’s euro bank account. This direct debit must be authorized by the customer and a business needs the customer’s name and IBAN formatted bank account number to perform a direct debit.

SEPA Direct Debit is available in two schemes and offers both individuals and businesses a secure bill payment method. The SDD Core scheme is designed mainly for consumers, while the SDD B2B is exclusively for businesses.

The SEPA Credit Transfer (SCT) service grants payment service providers the ability to transfer payments between bank accounts across Europe with ease. SCT transactions can be single or bulk payments as well as one-off or recurring payments. To participate, payment service providers must formally participate in the SEPA scheme.

SEPA money transfers provide easy, convenient cross-border bank transfers within Europe. Not only are SEPA money transfers fast, but also secure and cost-effective.

SEPA is limited to the countries that formally participate and whose national currency is the euro.

SEPA money transfers typically take no longer than 1-2 business days¹.

Whether you’re sending money online or with an international money transfer app, all SEPA money transfers are completed in euros, even if the relevant bank accounts are not in euros. If there are different currencies between banks, currency exchange will be required. If this occurs, the sender’s bank determines what fees are applicable for this service.

While both SEPA and SWIFT/BIC enable cross-border money transfers, SEPA money transfers can only be made in euros within the SEPA area, whereas SWIFT/BIC money transfers can be made in various currencies internationally.

For SEPA payments, verification is necessary to determine that the SWIFT/BIC is SEPA eligible through contacting a Western Union representative or through accessing the list of SEPA Credit Transfer participants.

A non-SEPA money transfer, also known as an international money transfer, is used when euro transfers are made to non-SEPA countries. Non-SEPA money transfers are also used for non-euro foreign currency payments.

Western Union lets you send euros (EUR) to non-SEPA zone bank accounts with ease. We use the SWIFT/BIC payment network to reliably transfer money to bank accounts outside of SEPA.