Single Euro Payments Area (SEPA)

Nonkululeko Ngoloyi
Nonkululeko Ngoloyi
  • Updated

What is SEPA?

SEPA stands for the Single Euro Payments Area. It's a system regulated by the European Payments Council (EPC) that makes it easier to send euros across 36 countries. The main goal of the SEPA network is to make payments simple and the same everywhere in these countries, just like sending money within your own country.

💡 With SEPA, you can make SEPA Credit Transfers, Instant SEPA Credit Transfers, Standing Orders, and SEPA Direct Debits from your payment account.

SEPA countries and territories

The Single Euro Payments Area (SEPA) includes a total of 36 countries and territories, both European Union (EU) members and non-EU members:

  1. EU members: 27 countries that are part of the EU. They use SEPA to make euro payments easy and quick across Europe.
  2. EFTA (European Free Trade Association): countries that are not in the EU but still use SEPA because of special agreements with the EU.
  3. Non-EU members: countries that are not part of the EU but still use SEPA. They are part of SEPA to make euro payments simple across more countries in Europe.

1. EU members: 27 countries

  1. Austria

  2. Belgium

  3. Bulgaria

  4. Cyprus

  5. Croatia

  6. Czech Republic

  7. Denmark

  8. Estonia

  9. Finland (including the Åland Islands)

  10. France (including French Guiana, Guadeloupe, Martinique, Mayotte, Saint Barthelemy, French Saint Martin, Reunion, and Saint Pierre and Miquelon)

  11. Germany

  12. Greece

  13. Hungary

  14. Republic of Ireland

  15. Italy

  16. Latvia

  17. Lithuania

  18. Luxembourg

  19. Malta

  20. Netherlands

  21. Poland

  22. Portugal (including Madeira and Azores)

  23. Romania

  24. Slovenia

  25. Slovakia

  26. Spain (including Ceuta, Melilla, and the Canary Islands)

  27. Sweden

2: Non-EU members and EFTA: 9 countries

  1. Andorra
  2. Iceland
  3. Liechtenstein
  4. Monaco
  5. Norway
  6. San Marino
  7. Switzerland
  8. United Kingdom (including Gibraltar)
  9. Vatican City State/Holy See
ℹ️ SEPA official list SEPA covers these countries and territories, but it depends on local rules and licenses. Check the EPC's official list for more details.

SEPA availability

Knowing SEPA transaction processing times is important for planning and managing your payments. There are specific days, known as TARGET closing days, when the SEPA network does not operate.

The SEPA network is unavailable on the following TARGET closing days:

  • Saturdays and Sundays
  • New Year's Day
  • Good Friday
  • Easter Monday
  • Labor Day (1 May)
  • Christmas Day
  • Boxing Day (26 December)

TARGET closing day processing

Here's a quick summary on how SEPA transactions are handled around TARGET closing days:

  • SEPA Credit Transfers: processed on the same day if you initiate them before the *cut-off time on a business day. If not, they get processed the next business day.
ℹ️ *Cut-off times

Swan’s transfer cut-off time is 13:29 Central European [Summer] Time (CET/CEST).

  • Instant SEPA Credit Transfers: processed immediately, no matter what day or time it is.
  • SEPA Direct Debits: processed on the agreed debit date, or the next business day if that date falls on a TARGET closing day.

For a detailed overview of the durations for various types of SEPA Credit Transfers, please refer to the table in this article on SEPA Credit Transfers.

If you face any delays with your transactions outside of the TARGET closing days, please read our articles on unprocessed outgoing transfers or delayed incoming transfers.

If you have further questions, submit a request to Swan Support.

Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request