Single Euro Payments Area. Questions for dealing with accounts and systems in SEPA, whether or not the question relates to the European Union. For instance, a USA-specific problem with sending a bank transfer to a SEPA account may fit here.
Questions tagged [sepa]
27 questions
23
votes
4 answers
High conversion fee for failed bank transfer
I asked my Swedish bank to transfer to my UK bank 50,000 euros through a SEPA payment. Unfortunately, the IBAN and BIC were old and no longer in use and the UK bank returned the money the same day, i.e. the transaction failed. The 50,000 euros was…
Ekorre
- 331
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13
votes
3 answers
Checking system vs. SEPA and the like
My first question here was inspired by the massive load of questions labeled scam here, especially the once involving checks. If this is too broad or off topic in some way please let me know so I can improve and/or narrow down the question a bit.
My…
iLuvLogix
- 311
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7
votes
1 answer
What is the usual delay for a SEPA transaction?
I wired some money from France to someone having an account in Germany, using a SEPA (Single Euro Payments Area)
My bank acknowledged the transfer, and the person is telling me his didn't. He is telling me that these transactions usually take 2-3…
BenoitParis
- 173
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7
votes
2 answers
How to transfer money from Russia to Germany?
My wife is Russian, and lives with me in Germany. She has a Russian bank account (denominated in RUB), and a German bank account (denominated in EUR). We have been unable to find a quick, convenient and cheap way to transfer money from her Russian…
user70548
5
votes
2 answers
What is the difference between SEPA and a wire transfer
I am currently reading stellar documentation and I wondered about this part:
Deposits and withdrawals should be processed through local domestic payment rails (ACH, SEPA, SPEI, etc.), not via wire transfer
I thought that SEPA transfers were one…
Martin Thoma
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3
votes
1 answer
How to tell how exposed to extraterritorial USA sanctions my EU bank is?
The USA have threatened extraterritorial financial sanctions for EU entities which do business with Iran (see the link for how it works and further resources, including relevant USA laws). The EU's proposed countermeasures will be announced…
Nemo
- 158
- 11
3
votes
1 answer
How to trace a failed SEPA bank transfer
A UK bank initiated a transfer for a client of mine to my own account. The wire was in EUR and my account is an IBAN EUR account. 7 days passed and the money are not with me. They did not return to the sender either. After talking with my bank they…
Boris Hamanov
- 133
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3
votes
3 answers
Can I force companies to accept a SEPA bank account?
Let me start with a quote from the SEPA website:
Only one bank account needed for the whole euro area: SEPA will make
things much easier if you are working or studying abroad in another
euro area country, especially on a temporary basis. At…
Niels van Reijmersdal
- 131
- 4
3
votes
1 answer
Can my bank still require a BIC code for credit transfers within the SEPA zone?
As far as I know the "IBAN Only rule" which was recently adopted states that for credit transfers within the SEPA zone, an IBAN is sufficient to identify an account and the BIC is no longer required. I've found an article explaining IBAN and BIC…
Lilienthal
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3
votes
0 answers
What is the SEPA optional category?
When I'm writing a wire transfer (both with my personal and with my company's accounts), my bank allows me to enter "optional SEPA fields", most of them look redundant or useless, but one is a bit puzzling: the category.
Here it is (in…
o0'.
- 193
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2
votes
4 answers
How do I avoid excessive fees when I get paid in CHF and need EUR?
I live in Germany and will soon receive monthly payments in CHF. How can I
best transfer this money to my local bank account (EUR)?
My local bank charges 20 € per conversion and uses an unfavorable exchange rate where I’d lose an additional ~10 €…
dessert
- 123
- 5
2
votes
1 answer
Are account numbers required for international SEPA transfrers
I want to carry out a wire transfer to a bank outside of the SEPA zone. The form doesn't a field for the account number. It has the account name, BIC, IBAN, bank name and address. Are account numbers not required for this?
Brian
- 123
- 2
2
votes
1 answer
Direct Debit on Amazon
Recently, I placed an order on Amazon.de and the payment is done via SEPA Direct Debit. When I was paying, I gave my IBAN, SWIFT CODE, and NAME. Later, my money got debited when the order dispatched. So my question is suppose if someone is having my…
Aditya Kurrodu
- 123
- 2
2
votes
0 answers
Is SEPA Instant Credit Transfer (SCT Inst) a replacement for "classic" SEPA transfers or just for special purposes?
Is SEPA Instant Credit Transfer (SCT Inst) a dropin replacement for classic SEPA transfers? Or is it something that is/will be available under special conditions?
In other words, if I transfer 100 EUR to my parents today, it takes a few hours or…
David Balažic
- 121
- 3
1
vote
1 answer
sepa payment wrong name
unfortunately we have been victim of the fraud and processed sepa payment from UK to Denmark for the large amount of money.my question is; how likely for fraudsters's bank to check beneficiary name as it will not match to we put in payment details?
Kara
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