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SEPA FAQs

What does SEPA stand for?

SEPA is short for the Single Euro Payments Area.

What are the aims of SEPA?

SEPA is an initiative of the EU banking sector to standardise payments across the euro zone, making the area a borderless one with a common set of terms, conditions, rights and obligations that will make payments travel easily, quickly, securely and efficiently, as if in a domestic market.
 

What currencies does SEPA cover?

SEPA covers euro transactions ONLY.
 

What countries does SEPA cover?

SEPA covers 33 countries in all - the 28 EU members states including the 17 states in the Eurozone (Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain); the 11 states not in the Eurozone (Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Latvia, Lithuania, Poland, Romania, Sweden and United Kingdom); the 4 EFTA member states (Iceland, Liechtenstein, Norway, Switzerland); and Monaco.

 

 


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