SEPA Instant

SEPA is an area where consumers can pay and receive payments in euros electronically, within and across borders, having the same characteristics, obligations and rights wherever they are based. In this way, cross-border payments are facilitated, since they are carried out in the same way as domestic payments.

In order to perform a SEPA transfer you will need the name of the recipient (consumer or business), the IBAN of the recipient and the exact amount.

SEPA has many benefits for payments in the European area. First of all, it significantly reduces the time required to carry out cross-border transactions ensuring more efficient payment processing. Moreover, by standardizing payments, SEPA reduces transaction costs for consumers and businesses and it is ensured that participating countries consistently follow rules and standards, which provide transparency and reliability in the payment process. In addition, SEPA promotes financial integration in Europe by guaranteeing financial stability and facilitating cross-border trade relations and last but not least it simplifies the process of making and receiving payments between participating countries.

Whether it’s everyday transactions, urgent payments, or recurring ones, SEPA makes sure they are quick, easy and simple, while prioritizing financial stability in Europe.

You can find out more about SEPA here.