What are SEPA Transfers?
SEPA stands for Single Euro Payments Area, and it is used when making cross-border European bank transfers. The aim of SEPA is to make it even easier to make EUR transfers between the nations in the European Union, to the point that making these transfers would be no different than making any domestic transfer. Plus, just about all SEPA transfers are free.
Sepa Countries List:
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Gibraltar
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Lichtenstein
- Lithuania
- Luxembourg
- Malta
- Monaco
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- San Marino
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- UK
SEPA Payment Charges
At OFX, most of our European payments are made via SEPA. When you send your money to OFX from a SEPA country, it should cost the same as a local transfer (in most cases that means it’s free.) Inter-European transfers processed via SEPA are usually also free from bank charges on the recipient’s end, but as a few banks still do charge a fee to receive a SEPA transfer, you may want to double-check with your bank.
SEPA Transfer Time
With OFX, it usually only takes 1-2 business days for transfers to Europe to be completed.
For these types of transfers, you will probably need the appropriate IBAN and BIC, as well as the recipient’s name and account number.More General & Other FAQs
- Do you accept part payments?
- I do not have a mobile number. What alternatives do I have?
- How do I add a new currency to my profile?
- How do I update my personal details?
- How Long Is a Live Exchange Rate Valid For?
- How Do I Find My ACH Routing Number?
- Is my personal information secure?
- I’ve forgotten my username or password – what should I do?
- I’ve noticed OFX is fully regulated. What does this mean?
- What Is A Forward Contract?
- What Is a Routing Number?
- What are SEPA Transfers?
- What are Spot Transfers?
- What Is an IBAN?
- What is NEFT?
- What is BSC?
- What is CHIPS?
- What is NCC?
- What’s my Client Reference number for?
- What is the OFX Customer Rate?