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What is a SEPA Transfer and How Does it Work?

SEPA stands for the Single Euro Payments Area and in its essence, it is a new format for international bank transfers within Europe. There are 34 countries which are part of the SEPA zone and its main application is to simplify cross-border money transfers in Euros, the only currency SEPA supports.

In general, a SEPA transfer is similar to a domestic transfer - they are fast and with fees that are minimal to none.

If you have a SEPA bank account, you will be able to add funds to your Virtual Currency Wallet using the SEPA Bank Transfer Option. In this way, you will be able to buy Bitcoin with a bank transfer without facing the disadvantages related to the traditional international bank transfers, which tend to take longer time and cost more.

!Please note: When sending a SEPA bank transfer, you will need your International Bank Account Number (IBAN) and the Business Identifier Code (BIC). You can find them on your bank statement or just contact your bank and ask them.

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Published Date = 17/09/2018
Last Updated Date = 05/12/2018
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