The Single Euro Payments Area (SEPA) represents a new format for international bank transfers in Europe. Currently, SEPA comprises 34 countries, including 28 EU member states alongside Iceland, Monaco, Switzerland, Liechtenstein, Norway and San Marino. Its purpose is to simplify cross-border money transfers in Euros, which is the only currency SEPA supports.
In many ways, a SEPA transfer is like a local domestic transfer. Banks that support SEPA transfers either have direct relationships established or a network of intermediary banks, thus allowing transfers to run across country borders.
With PayApp, the SEPA transfers usually take no longer than 1-2 business days to reach the beneficiary.