SEPA (Single Euro Payments Area)

The Single Euro Payments Area (SEPA) is an initiative that simplifies bank transfers and payments within Europe using the euro. It allows individuals and businesses to make cashless transactions across member countries as easily as they would domestically, ensuring standard processes and fees. This means you can send money to a friend or pay a bill in another eurozone country without worrying about different banking systems or extra charges. SEPA aims to enhance efficiency and accessibility in cross-border payments, fostering economic integration in Europe.