What is SEPA? How euro bank transfers, instant payments and direct debits work
By SendPay Business · · 2 min read
- 1Set up the plan once
- 2It renews on the same day each month
- 3Payments arrive without chasing
SEPA, the Single Euro Payments Area, lets people and businesses send euros across Europe as easily as within their own country, using one IBAN and one set of rules. It covers every EU country and several nearby ones, including the UK, Switzerland and Norway.
The three main SEPA schemes
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Tap each one to see what it means.
SEPA Credit Transfer
a standard euro bank transfer, usually arriving by the next working day.
SEPA Instant Credit Transfer
arrives in seconds, at any time of day, where both sides support it.
SEPA Direct Debit
lets a business collect euro payments from customers' accounts with their permission.
Instant payments are becoming the norm
Under EU rules, payment providers in the euro area must now let customers send and receive instant euro transfers, at no more than the price of a standard transfer, and check the payee's name before a payment goes.
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
What you need
The payee's IBAN and name. Checking the IBAN before you send catches most typing mistakes.
What it means for money apps
Euro IBANs and SEPA access let your customers get paid and pay across Europe cheaply. SendPay platforms, powered by licensed partners, include EUR balances alongside GBP and USD.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
Why sign up
Create your free SendPay account
It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
How do I check an IBAN?
The free checker validates the length and check digits for 77 countries.
IBAN checker →Do I need a SWIFT code for SEPA?
Usually not. The IBAN is enough for most SEPA payments. SWIFT is for payments outside SEPA.
SWIFT code checker →How do other international transfers work?
The guide explains SWIFT, SEPA and local payouts.
How international transfers work →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.