Making payments in Europe: SEPA

SEPA stands for Single Euro Payments Area. SEPA will allow customers to make euro payments throughout Europe as easily, securely and efficiently as they do today within their own countries.

Making payments in Europe: SEPA

SEPA

The Single Euro Payments Area (SEPA) will allow customers to make euro payments throughout Europe as easily, securely and efficiently as they do today within their own countries. The ECB sees SEPA as anintegrated market for payment services, which is subject to effective competition and where there is no distinction between cross-border and national payments within Europe.This calls for the removal of all technical, legal and commercial barriers between the current national payment markets. The ECB, DNB and the other European central banks are working to make this happen.Once SEPA has been completed, there will no longer be any distinction between national and cross-border euro payments – they will all be domestic.

SEPA-countries

SEPA covers not only the euro area. Countries outside the euro area have also adopted SEPA standards and practices for their euro payments. However, legal coverage applies to countries within the EU only.

Countries which participate in SEPA:

  • All countries within the European Union (EU)
  • Iceland
  • Norway
  • Liechtenstein
  • Switzerland
  • San Marino
  • Monaco

SEPA in numbers

  • 34 countries in Europe participate in SEPA
  • Over 523 million citizens are able to make SEPA payments
  • Over 4,500 payment service providers have signed up for SEPA credit transfers
  • Over 3,900 payment service providers have signed up for the SEPA core direct debit scheme
  • Over 3,400 payment service providers have signed up for the SEPA business-to-business direct debit scheme.

Making payments in Europe

Read more about the Single Euro Payments Area
Read more about euro banknotes and about combating counterfeiting.