Single Euro Payments Area (SEPA)


  • SEPA European Commission (EC) and European Payments Council (EPC) initiative to reduce the costs of cross-border electronic Euro payments (to domestic transaction levels).
  • Legally-binding deadline of 1 February 2014 for migration from domestic to SEPA payments.
  • SEPA will not affect the way UK companies trade in Sterling, but will enable them to make cheaper and, in time, faster payments in Euros.
  • The cheapest SEPA Credit Transfers from UK-based banks are from the likes of Bank of Ireland and Allied Irish Banks - as the Republic of Ireland currency is the Euro.

SEPA Payments

  • A SEPA Credit Transfer (SCT) is a non-urgent, cross-border Euro payment made between any two SEPA countries within three days, including Euro payments within the UK.
  • A SEPA Direct Debit (SDD) will enable Direct Debit originators to collect Euro payments from any SEPA country, including their own domestic DDs, using a single Direct Debit service.
  • Most UK banks are now part of the SEPA scheme, but they refer to transactions as 'Euro Transfers' or 'non-urgent cross-border payments' and so on.

SEPA Requirements

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International Payments via SAS service or WUBS service

  • As an Associate member of the UK Payments Council, a SWIFT Solution Partner and a member of the Bacs Affiliates Interest Group, Bottomline Technologies is well placed to drive SEPA forwards.
  • We work closely on issues relating to SEPA with VocaLink, VISA, MasterCard, Equens, EACHA, all the major UK Banks and some of the major European banks.
  • For high value, high volume global transactions, the SAS service from our London office offers the facility to process international payments.  We also have a strategic alliance with WUBS enables us to deliver GlobalPay, a secure and reliable cross-border payments solution that handles all major trading currencies.

Learn more about International Payments using GlobalPay

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