What is SEPA? How euro bank transfers, instant payments and direct debits work
By SendPay Business · · 2 min read
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
- 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.
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.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →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
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. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.