What are SEPA Payments?
SEPA (Single Euro Payments Area) is a cashless payment system that facilitates euro transfers between bank accounts in European Union countries and some other countries under the same conditions.
Key Features of SEPA Payments:
Currency: Euro
Coverage Area: 36 countries, including all EU countries, Iceland, Liechtenstein, Norway, Switzerland, and others.
Purpose: Transfers between bank accounts both within one country and across SEPA countries.
Processing Time: Standard SEPA payments typically take 1 business day, although in some cases, the payment may take up to 3 business days to process.
Fee: 3.5 USD plus 1.5% of the total payment amount, including the fixed fee.