The Single Euro Payments Area (SEPA) is the payment-integration initiative of the European Union for the simplification of bank transfers in the euro (€) currency within and between the following European States: 

  • The 28 countries of the European Community (plus associated territories)
  • The 3 European Economic Area (EEA) Member States (Iceland, Norway and Liechtenstein)
  • Monaco
  • Switzerland
  • San Marino

SEPA’s aim is to replace different local payments scheme’s in euro with a standardised set of products and payment guidelines. Once live, SEPA will enable individuals and businesses to move euro as easily, quickly, securely and efficiently within and across borders under the same basic conditions, rights and obligations as they can within their own countries.