SEPA FAQs
SEPA Q&As
About SEPA
- What is SEPA?
- What currencies are covered under SEPA?
- What payment types are covered under SEPA?
- What countries are in the SEPA zone?
BIC & IBAN
- What is a Bank Identifier Code (BIC)?
- What is an International Bank Account Number (IBAN)?
- What does an IBAN look like?
- Where can I get my IBAN and BIC?
- Where will I get my customers’ BIC and IBAN?
SEPA Payments Q&As
SEPA Credit Transfers
- What is the SEPA Credit Transfer (SCT) Scheme?
- How long will it take for a SEPA Bulk credit transfer to reach the beneficiary?
SEPA Direct Debits
- What is the SEPA Direct Debit (SDD) Scheme?
- How long will it take to collect on a SEPA Direct Debit (i.e. clearing cycle)?
- Key Features of the SEPA Direct Debit scheme
- What are the new transaction codes for SEPA Direct Debits and when are they used?
Benefits of SEPA
- What are the fees for Payment Files?
SEPA Instant Payments Q&As
- What are SEPA instant payments?
- What is the difference between a SEPA payment and a SEPA instant payment?
- When will I be able to make a SEPA instant payment?
- Can I make a SEPA instant payment in a branch?
- Can I make a SEPA instant payment on a non-business day?
- Are there additional fees for sending SEPA Instant payments?
- Where can I see the new terms and conditions?
Limits
- What is a SEPA instant payment limit?
- Do I have to set up a SEPA instant payment limit?
- Are there other limits that might apply?