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SEPA Transfers

Single European Payments Area

SEPA Transfers explained

Sending cross-border payments within the EU can now be made by using the SEPA system, which is a cheaper method than traditional telegraphic transfers. The SEPA system effectively standardises payments from one EU country to another in Euros. Payments will arrive with the beneficiary bank within 1-2 working days of being sent.


The great advantage of SEPA transfers is that receiving banks are not allowed to make a charge to receive funds. This is particularly useful for money transfers to Spain, where banks will charge up to 0.5% of the amount sent, in order to receive funds sent by telegraphic transfer. Obviously this is not desirable when you are sending a larger amount, so now for Euro payments it is often best to use a SEPA transfer so that there will be no nasty surprise when your money arrives abroad.


SEPA transfers are also cheaper then telegraphic transfers, with some currency brokers offering the service for as little as £7, as well as providing better exchange rates than banks are often able to. If you are looking to make a Euro transfer, fill in your details at the top of the page and we will put you in touch with an FSA-regulated currency company who will talk you through the various options and make sure your payment type is the most efficient possible.


Making a SEPA Transfer

To make a SEPA transfer, you will need to provide the following information. Don't forget that a currency broker will usually give you a better exchange rate than your bank - fill in your details at the top of this page to be put in touch with an FSA-regulated specialist.