What is SEPA?


SEPA will standardize euro electronic payments across European countries. Together, there exist 34 countries in the SEPA location. These are generally the present 28 EU member states of the European Union, along with Iceland, Lichtenstein, Monaco, Norway, San Marino and Switzerland.

The 28 nations of the European Union are: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain, Sweden and the United Kingdom.

Map of Europe – Countries encompassed in the SEPA Initiative



SEPA came into full effect on 1st February 2014, transforming the way euro electronic payments are processed across Europe. It imply that you possibly can make and receive payments seamlessly, collect a direct debit on any specific euro bank account or even make a credit transfer to any specific euro bank account within SEPA.

What are the basic improvements that SEPA brings?

- From 1st February 2014, existing national payment schemes were shut down; following which euro electronic payments will be processed via new SEPA schemes.

- National sort codes and bank account numbers will be changed by an International Bank Account Number (IBAN) and a Business Identifier Code (BIC).



SEPA Countries with ISO 3166-1 alpha-2 and currency codes*
Åland Islands FI FI EUR
Austria AT AT EUR
Azores PT PT EUR
Belgium BE BE EUR
Bulgaria BG BG BGN
Canary Islands ES ES EUR
Croatia HR HR HRK
Cyprus CY CY EUR
Czech Republic CZ CZ CZK
Denmark DK DK DKK
Estonia EE EE EUR
Finland FI FI EUR
France FR FR EUR
French Guiana GF FR EUR
Germany DE DE EUR
Gibraltar GI GI GIP
Greece GR GR EUR
Guadeloupe GP FR EUR
Hungary HU HU HUF
Iceland IS IS ISK
Ireland IE IE EUR
Italy IT IT EUR
Latvia LV LV EUR
Liechtenstein LI LI CHF
Lithuania LT LT LTL
Luxembourg LU LU EUR
Madeira PT PT EUR
Malta MT MT EUR
Martinique MQ FR EUR
Mayotte YT FR EUR
Monaco MC MC EUR
Netherlands NL NL EUR
Norway NO NO NOK
Poland PL PL PLN
Portugal PT PT EUR
Réunion RE FR EUR
Romania RO RO RON
Saint Barthélemy BL FR EUR
Saint Martin MF FR EUR
Saint Pierre and Miquelon PM FR EUR
San Marino SM SM EUR
Slovakia SK SK EUR
Slovenia SI SI EUR
Spain ES ES EUR
Sweden SE SE SEK
Switzerland CH CH CHF
United Kingdom GB GB GBP
* Reference from European Payments Council