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Q:

What is a SEPA payment?

A:

A non-cash (electronic) Euro payment between member countries of the Single Euro Payments Area (SEPA).

SEPA makes Euro payments easier and cheaper and enables you to move money as freely throughout Europe as you can within the UK.

Typically they arrive one business day after they are sent by us. Please note that International payments are only sent by us on business days, and if you enter the payment on a non-business day the earliest it can be sent by us is the next business day.

Always check the payment confirmation screen to ensure the ‘Date payment to arrive’ meets your needs.

To make sure your Bankline Euro payments are SEPA-compliant:

  • set the priority of the payment to ‘Standard’
  • include the beneficiary’s international bank account number (IBAN)
  • set the charge to be shared, i.e our charges to be paid by the remitter and foreign bank charges to be paid by the beneficiary
  • ensure ‘Intra-company transfer’ in the Payment details section is not checked

N.B. Entering a BIC is optional as in most cases we will be able to derive this from the IBAN you provide.

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