---
title: What is a SEPA and How Does it Work?
description: SEPA payments enable fast, euro-denominated transfers across Europe using IBAN, ensuring seamless transactions.
---

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May 9, 2025

# What is a SEPA and How Does it Work?

SEPA (Single Euro Payments Area) is a system that makes it easier to send and receive Euro payments across Europe. It covers all EU countries, plus a few others like Iceland, Norway, Switzerland, and more—allowing for simple, low-cost Euro transfers between participating regions.

**What You Need to Know**:

- **Euro-Only Transactions**  
  SEPA payments are strictly processed in Euros and only between accounts located in SEPA member countries.
- **IBAN Requirement**  
  All SEPA transactions must include a valid IBAN (International Bank Account Number), which follows a standardized format: a 2-letter country code, a 2-digit checksum, and the bank account number.
- **SWIFT Not Compatible**  
  SEPA payments must be routed through the SEPA system. Attempting to send a SWIFT payment to a SEPA-only IBAN will result in rejection.
- **Supported SEPA Services**  
  Obtained. will find relevant partners that facilitate standard SEPA transfers. SEPA Instant payments are not currently available.

Are you a financial institutions looking to connected directly or indirectly to payment rails? Have questions? Our support team is here to help.

 

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