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What are SEPA Transfers?

SEPA (or the Single Euro Payments Area) is the new format for cross-border Euro bank transfers.

SEPA aims to make cross-border Euro transfers within this area equivalent to a domestic transfer within your own country.

SEPA is made up of the Eurozone, countries within the EU and a few other countries which also support Euro bank transfers. The full list can be found here.


But your Euro account is in another country?

If you're sending money from a bank based in the SEPA (e.g. UK, France, Switzerland), sending money to one of TransferWise's Euro accounts shouldn’t cost any more than a regular, local transfer. In the majority of cases, this means it’s free.

Your money should arrive to TransferWise within 1-2 working days once your bank has confirmed the transfer.

TransferWise has two Euro accounts, based in Estonia and Germany. They are both 'SEPA-compliant'. More information about these accounts can be found here.


Receiving Euros from TransferWise

As TransferWise sends Euros via SEPA transfer, there shouldn't be any receiving fees. However, while banks shouldn't charge for receiving SEPA payments, unfortunately there is a very small number that may still do so. TransferWise can't tell which banks do or don't charge beforehand, so if you are unsure about this, it is worth checking with the receiving bank. 

Once sent out, the recipient of a Euro transfer should receive the money within 1-2 working days.

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