Main characteristics

• Only transactions in EUR
• The beneficiary and ordering account need to be located in one of the following countries: Austria, Belgium, Cyprus, Estonia, Finland (including the territory of the Aland Islands), France (including the territories of French Guyana, Guadeloupe, Martinique, Reunion, Saint Barthelemy and Saint Martin), Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal (including the territories of the Azores and Madeira), Slovenia, Slovak Republic, Spain (including the territories of Cueta and Melilla), Bulgaria, Croatia, Czech Republic, Denmark, Great Britain (including North Ireland & Gilbraltar), Hungary, Latvia, Lithuania, Poland, Romania, Sweden, Iceland, Norway, Liechtenstein, San Marino, Monaco and Switzerland. The full list of countries can be found here

• IBAN (International Bank Account Number) and BIC (Bank Identifier Code) are the only accepted account and bank identifiers for SEPA transactions. The usage of BIC is not mandatory since 1/2/2016.
• Maximum 1 day until settlement
• Charges are shared between originating and beneficiary bank and not deducted from the principal amount, making reconciliation easier.
• 140 characters available for remittance information
• 35 characters for payment Identification (reference)
• Format: XML ISO 20022

For more specific information on our solutions please contact your Sales Representative.