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SEPA

SEPA

SEPA is the Single Euro Payment Area set up by European institutions in 2002 to simplify and harmonize payment procedures in Europe. SEPA members can make national or cross-border transfers and direct debits in any of the 36 SEPA member countries in less than 48 hours.

Related definitions

SEPA zone

The SEPA comprises 36 member countries: the 28 countries of the European Union, the 5 European micro-states, …

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CSV

CSV is a file format that can be created or modified in Excel. Rather than…

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SCT

SCT stands for SEPA Credit Transfer. It enables payments to be made in euros in the 36 member countries of

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ECB

The European Central Bank (ECB) is the European Union’s main monetary institution.

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PSD2

PSD2 is a directive introduced by the European Parliament to harmonize payment regulations within the European Union.

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