Help & Support

What are SEPA transfers?

SEPA (or the Single European Payments Area) is a set of standards for Euro bank transfers. Overall, it aims to harmonize and simplify cross-border Euro bank transfers.

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

SEPA makes cross-border Euro transfers within this zone equivalent to a domestic transfer.

A SEPA transfer to one of our Euro depositing accounts, even though it may be another country, shouldn’t cost any more than your bank’s standard domestic transfer fee- in the vast majority of cases, this means it’s free.

Similarly, receiving Euros from TransferWise shouldn't incur any fees from the receiving bank.

Euro SEPA transfers usually take 1-2 working days.

We have two Euro bank accounts, based in Estonia and Germany. Both are “SEPA-compliant”. More about our Euro depositing accounts can be found here.

SEPA is soon to be the future for all Euro bank transfers. Between 1st February to 1st August, banks across the EU will be switching all their Euro bank transfers to the SEPA system. More about that migration can be found here.

You can read more about Euro transfers with TransferWise here.

See also: The European Central Bank's info page on SEPA

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