What is a SEPA payment?

Euan Robb

In an increasingly globalised world, international transactions are becoming a norm rather than an exception. Whether you're a business making regular overseas payments or an individual transferring money abroad, you'll often come across a term: SEPA payment.

But what exactly is it, and how does it differ from other payment methods? Let's dive deep and uncover the essentials.

About Equals Money

What is SEPA?

SEPA stands for the Single Euro Payments Area. It is an initiative by the European Union (EU) to harmonise electronic euro payments across Europe. The primary objective behind SEPA was to make cross-border euro payments as easy, fast, and secure as domestic payments within individual countries.

Which countries are part of SEPA?

SEPA isn’t just confined to the EU. It consists of 36 member countries, including all 27 EU member states and some non-EU countries such as Norway, Switzerland, and Iceland. For a UK audience, it’s pertinent to note that despite Brexit, the UK still facilitates SEPA payments, making transactions smoother with European counterparts.

Advantages of SEPA payments

  1. Consistency: Whether you're making a payment to a neighbouring city or a distant European country, SEPA payments ensure uniformity in transactions.
  2. Speed: SEPA credit transfers are generally speedy, with funds typically being transferred within one business day.
  3. Cost-efficiency: Cross-border transaction fees can often take a big bite out of your funds. SEPA payments can reduce these fees significantly.
  4. Security: With SEPA, enhanced consumer protection measures and transparency are in place, ensuring safer transactions.

How do SEPA payments work?

When initiating a SEPA payment, you'll need the recipient's International Bank Account Number (IBAN) and the Bank Identifier Code (BIC). These codes replace the traditional account number and sort codes, making transactions more streamlined and less prone to errors.

Why choose Equals Money for your SEPA payments?

With connections to SEPA, SWIFT, and UK Faster Payments, here's why Equals Money should be your first choice if you're looking to make international payments:

  1. Competitive rates: Equals Money offers competitive exchange rates for over 140 currencies, allowing you to get the most out of every transaction.
  2. Faster settlements: With same-day and next-working-day transfers, Equals Money make sure your funds reach where they need to go and when.
  3. Tried and trusted: With years of experience in the forex industry, Equals Money has helped their customers manage and move over £10 billion around the world since starting in 2005.
  4. Dedicated support: Their team of in-house experts are always on hand to guide you, ensuring your international transactions are seamless.


SEPA payments have revolutionised the way we conduct transactions within Europe. By making payments consistent, quick, cost-effective, and secure, they have become the preferred choice for many. And with a trusted partner like Equals Money, you ensure that every transaction is smooth, safe, and simple.

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