SEPA Countries (list of countries)
The Single Euro Payments Area (SEPA) has created an area in which Europe’s payment transactions can be processed uniformly, securely and quickly. With the SEPA credit transfer and the SEPA direct debit, Europe’s economic players can carry out transactions that are all subject to the same conditions. This will make Europe’s banking industry not only more efficient, but also less expensive. Citizens and companies in all SEPA countries will be able to make their payment transactions to and from anywhere in Europe, regardless of where they live or where they are located. In the Single Euro Payments Area, this will create a single market for retail payments, enabling better services for customers. In payment transactions, SEPA countries differ in the length of their IBAN numbers as well as ISO codes and, in some cases, on the basis of their currency. The ISO codes are used in the BIC and are a two-digit country code, which with SEPA becomes indispensable for national and international payment transactions.
SEPA membership and special cases
SEPA countries include the 28 EU member states (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom), the three EEA countries Iceland, Norway and Liechtenstein as well as Switzerland and Monaco.
Between these countries, SEPA standardizes payment transactions in the euro currency. This not only creates a better overview, but also considerable added value for companies and banks. The SEPA countries without the euro currency must adhere to the competitive conditions of the euro payment area. However, a special situation applies to Switzerland and Monaco, as these countries are bound by the SEPA rulebooks but not by the EU regulations and directives.
SEPA countries in the European Union:
SEPA countries (euro): Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
SEPA countries (without euro): Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden and the United Kingdom.
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