SEPA Transfers

If you need to send money abroad, the transfer process can sometimes be a bit of headache, particularly if you’re a novice and don’t know where to start.

After all, not everyone is a financial expert and separating acronyms like SWIFT and IBAN can leave many a civilian more than a little befuddled.

That being said, transferring euros throughout the European Union can be a fairly straightforward process, thanks primarily to the introduction of SEPA transfers.

What Are SEPA Transfers?

In a nutshell, SEPA stands for Single Euro Payments Area. A payment initiative of the European Union, SEPA transfers are specifically designed to simplify bank transfers denominated in the currency of euros and improve the overall efficiency of cross-border payments within the EU.

The aim of SEPA transfers is to make an international transfer of euro payments the equivalent to money transfer within your own country. Naturally, this is only applicable to participating countries, predominantly featuring those that comprise the EU, and SEPA doesn’t cover payments in currencies other than the euro.

Essentially, SEPA allows for smooth borderless payment within the Eurozone. For example, you could send money quickly and easily from Paris to Berlin much like you would a payment from Birmingham to Bromley, with no strings attached.

Payments typically take between 1 and 2 working days to complete.

Which Countries Participate in SEPA?

In a nutshell, SEPA stands for Single Euro Payments Area. A payment initiative of the European Union, SEPA transfers are specifically designed to simplify bank transfers denominated in the currency of euros and improve the overall efficiency of cross-border payments within the EU.

The aim of SEPA transfers is to make an international transfer of euro payments the equivalent to money transfer within your own country. Naturally, this is only applicable to participating countries, predominantly featuring those that comprise the EU, and SEPA doesn’t cover payments in currencies other than the euro.

Essentially, SEPA allows for smooth borderless payment within the Eurozone. For example, you could send money quickly and easily from Paris to Berlin much like you would a payment from Birmingham to Bromley, with no strings attached.

Payments typically take between 1 and 2 working days to complete.

Which Countries Participate in SEPA?

As of November 2019, the list of SEPA countries is as follows:

  • Åland Islands
  • Andorra
  • Austria
  • Azores
  • Belgium
  • Bulgaria
  • Canary Islands
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • French Guiana
  • Germany
  • Gibraltar
  • Greece
  • Guadeloupe
  • Guernsey
  • Hungary
  • Iceland
  • Ireland
  • Isle of Man
  • Italy
  • Jersey
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Madeira
  • Malta
  • Martinique
  • Mayotte
  • Monaco
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Réunion
  • Romania
  • Saint Barthélemy
  • Saint Martin (French part)
  • Saint Pierre and Miquelon
  • San Marino
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • United Kingdom 

Are SEPA Transfers Free?

Transfers between banks accounts in different SEPA countries should cost the same as domestic transfer and incur no inflated fees, despite the international nature of the exchange, as per EU regulations.

For more information on SEPA transfers or to make an EU transfer with Universal Partners FX, why not drop us a line today? Call now on 020 7190 9559 to speak with one of our expert advisors or get in touch online by clicking the button below.

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