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Single Euro Payments Area (SEPA)

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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.

đź’ˇ 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:

  • EU members: 27 countries that are part of the EU. They use SEPA to make euro payments easy and quick across Europe.
      1. Austria
      2. Belgium
      3. Bulgaria
      4. Cyprus
      5. Croatia
      6. Czech Republic
      7. Denmark
      8. Estonia
      9. Finland (including the Ă…land 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
  • EFTA (European Free Trade Association): countries that are not in the EU but still use SEPA because of special agreements with the EU.
  • 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. Andorra
      2. Iceland
      3. Liechtenstein
      4. Norway
      5. San Marino
      6. Switzerland
      7. United Kingdom (including Gibraltar)
      8. Vatican City State/Holy See

    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:

    Transfer type Processing time
    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.
    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.

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

    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.