Single Euro Payments Area (SEPA)

The Single Euro Payments Area (SEPA) is a unified system that allows individuals and businesses in participating European countries to make and receive euro payments seamlessly, as if they were within a single country. It standardizes cross-border bank transfers, making them as simple, fast, and cost-effective as domestic transactions. SEPA supports different payment methods like credit transfers, direct debits, and card payments, promoting efficient economic activity across Europe while reducing complexities and expenses associated with international payments.