What it means
Single Euro Payments Area: the system for euro bank transfers across the EU and nearby countries.
SEPA covers the 27 EU countries and a few others, including Norway, Switzerland and the United Kingdom. Within it, a transfer in euros works the same way whether it goes to the next street or another country.
How it works
There are two main kinds of SEPA transfer. A standard SEPA credit transfer arrives by the next business day. SEPA Instant reaches the other account in under ten seconds, at any hour, every day of the year.
Since 2025, EU rules require banks in the euro area to send and receive instant transfers and to charge no more for them than for a standard one. They must also check the recipient's name against the IBAN before you send.
SEPA only moves euros. To send another currency, banks use other systems, such as SWIFT, which usually take longer and cost more.
A SEPA transfer usually can't be cancelled once it's sent. If you send to the wrong IBAN, your bank can only ask the other bank to return it. Copy the details, don't type them.
Defied uses SEPA to move euros between your bank and your wallet, where available. You send euros to your personal IBAN and they arrive as EURC, and you withdraw EURC to your bank as euros. You see the amount that arrives before you confirm. See how to get EURC with SEPA.
Related terms
| Term | What it means |
|---|---|
| IBAN | International Bank Account Number: the account number banks in Europe use to send and receive money. |
| On-ramp | Turning money from your bank account into stablecoins. |
| Off-ramp | Turning stablecoins back into money in your bank account. |
| EURC | A euro stablecoin issued by Circle: one EURC is meant to be worth one euro, backed by euro reserves. |
This glossary explains terms in general. It isn't investment, tax or legal advice.