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Questions tagged [sepa]

Single Euro Payments Area. Questions for dealing with accounts and systems in SEPA, whether or not the question relates to the European Union. For instance, a USA-specific problem with sending a bank transfer to a SEPA account may fit here.

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Lost money from Revolut to Monese bank on 3 repetive transfers since 18.12.2023

Hi since 17th December 2023 I transferred from my private account Revolut to my other private account with Monese and still not arrived and Monese claims not having received my money claiming Revolut ...
EJC's user avatar
  • 1
0 votes
2 answers
263 views

How can a regular consumer, use FedNow for cash transfers?

I am so sick of the hassle of Zelle, Venmo, ACH, Cash App, Wires and "bill pay". Where there is no limit, there is a fee. Where there is no fee, there is a multi-day delay. According to the ...
Derek Fulton's user avatar
1 vote
0 answers
63 views

Who performs currency conversion on a SEPA payment?

To simplify, consider a EUR-denominated SEPA Instant Credit Transfer from a EUR-denominated account to a CZK-denominated account to a bank in the Czech Republic (EU member). Which institution ...
Martin Drozdik's user avatar
-3 votes
1 answer
313 views

Can US-based Interactive Brokers accounts receive SEPA transfers?

I wonder whether an Interactive Brokers (IBKR) account based in the United States can receive a SEPA transfer. The bank sending the SEPA transfer is country that is part of the Single Euro Payments ...
Franck Dernoncourt's user avatar
13 votes
3 answers
2k views

Checking system vs. SEPA and the like

My first question here was inspired by the massive load of questions labeled scam here, especially the once involving checks. If this is too broad or off topic in some way please let me know so I can ...
iLuvLogix's user avatar
  • 311
0 votes
0 answers
213 views

SEPA Direct Debit Blocking in EU (IBAN security)

How can I send an official, legally-binding letter to my EU bank that requires them to block all Direct Debits from my account? I recently moved to Europe and was shocked to discover that an IBAN ...
Michael Altfield's user avatar
1 vote
0 answers
126 views

Money sent to suspended cryptocurrency account at an exchange

I have a cryptocurrency account at Binance account. However, as Binance no longer supports SEPA transfers, I recently opened another cryptocurrency account at advcash. Before opening the account with ...
Ahmad Turani's user avatar
1 vote
0 answers
83 views

Can a SEPA direct debit be refunded in case of bankruptcy?

Payments via SEPA direct debit (customer to business) can, in normal circumstances, be refunded unconditionally from the client's bank's website for eight weeks after the date of payment. Is this ...
FrederikVds's user avatar
1 vote
0 answers
236 views

SEPA credit transfer from EUR to GBP. What happens? Should there be fees?

All my bank accounts are in EUR (I am German) and I needed to transfer 100£ (GBP) to a british bank account to pay a reservation fee. I was provided with an IBAN to that account. I then converted from ...
M. Rumpy's user avatar
  • 111
4 votes
2 answers
10k views

What is the difference between SEPA and a wire transfer

I am currently reading stellar documentation and I wondered about this part: Deposits and withdrawals should be processed through local domestic payment rails (ACH, SEPA, SPEI, etc.), not via wire ...
Martin Thoma's user avatar
1 vote
3 answers
190 views

Why do SEPA transfers involve no or minimal fees, while SWIFT transfers may cost anywhere between $15 and $45?

I read on moneytransfers.com (mirror): SEPA transfers involve no or minimal fees, while SWIFT transfers may cost anywhere between $15 and $45. Why do SEPA transfers involve no or minimal fees, while ...
Franck Dernoncourt's user avatar
1 vote
1 answer
253 views

IBAN to SEPA converter

I have a UK bank account, and the IBAN number follows this example format as expected: GB45 LOYD 6016 1331 9268 19 When I log onto the Spanish utility company Iberdrola, I select the UK from the ...
securityauditor's user avatar
2 votes
1 answer
577 views

Direct Debit on Amazon

Recently, I placed an order on Amazon.de and the payment is done via SEPA Direct Debit. When I was paying, I gave my IBAN, SWIFT CODE, and NAME. Later, my money got debited when the order dispatched. ...
Aditya Kurrodu's user avatar
7 votes
2 answers
539 views

How to transfer money from Russia to Germany?

My wife is Russian, and lives with me in Germany. She has a Russian bank account (denominated in RUB), and a German bank account (denominated in EUR). We have been unable to find a quick, convenient ...
user avatar
1 vote
1 answer
113 views

disclosure of payee's iban in sepa transactions

I recently received a sepa payment from a third party across Europe. As I needed to give back some of the money received, I tried to find the payee's iban but it wasn't among the transaction's data. ...
Enzo's user avatar
  • 111
2 votes
0 answers
80 views

Is SEPA Instant Credit Transfer (SCT Inst) a replacement for "classic" SEPA transfers or just for special purposes?

Is SEPA Instant Credit Transfer (SCT Inst) a dropin replacement for classic SEPA transfers? Or is it something that is/will be available under special conditions? In other words, if I transfer 100 ...
David Balažic's user avatar
1 vote
0 answers
2k views

Tracing a SEPA transfer : any official document available?

I sent a SCT (SEPA Credit Transfer) on a Sunday and the operation appeared on my bank statement on Monday. More than a week later (8 days, no holidays on both countries) the beneficiary says that he ...
user68924837's user avatar
23 votes
4 answers
6k views

High conversion fee for failed bank transfer

I asked my Swedish bank to transfer to my UK bank 50,000 euros through a SEPA payment. Unfortunately, the IBAN and BIC were old and no longer in use and the UK bank returned the money the same day, i....
Ekorre's user avatar
  • 331
2 votes
4 answers
581 views

How do I avoid excessive fees when I get paid in CHF and need EUR?

I live in Germany and will soon receive monthly payments in CHF. How can I best transfer this money to my local bank account (EUR)? My local bank charges 20 € per conversion and uses an unfavorable ...
dessert's user avatar
  • 123
2 votes
1 answer
155 views

Are account numbers required for international SEPA transfrers

I want to carry out a wire transfer to a bank outside of the SEPA zone. The form doesn't a field for the account number. It has the account name, BIC, IBAN, bank name and address. Are account numbers ...
Brian's user avatar
  • 123
3 votes
1 answer
194 views

How to tell how exposed to extraterritorial USA sanctions my EU bank is?

The USA have threatened extraterritorial financial sanctions for EU entities which do business with Iran (see the link for how it works and further resources, including relevant USA laws). The EU's ...
Nemo's user avatar
  • 158
1 vote
1 answer
1k views

sepa payment wrong name

unfortunately we have been victim of the fraud and processed sepa payment from UK to Denmark for the large amount of money.my question is; how likely for fraudsters's bank to check beneficiary name as ...
Kara's user avatar
  • 11
3 votes
1 answer
4k views

How to trace a failed SEPA bank transfer

A UK bank initiated a transfer for a client of mine to my own account. The wire was in EUR and my account is an IBAN EUR account. 7 days passed and the money are not with me. They did not return to ...
Boris Hamanov's user avatar
3 votes
3 answers
1k views

Can I force companies to accept a SEPA bank account?

Let me start with a quote from the SEPA website: Only one bank account needed for the whole euro area: SEPA will make things much easier if you are working or studying abroad in another euro ...
Niels van Reijmersdal's user avatar
2 votes
1 answer
1k views

Can my bank still require a BIC code for credit transfers within the SEPA zone?

As far as I know the "IBAN Only rule" which was recently adopted states that for credit transfers within the SEPA zone, an IBAN is sufficient to identify an account and the BIC is no longer required. ...
Lilienthal's user avatar
3 votes
0 answers
82 views

What is the SEPA optional category?

When I'm writing a wire transfer (both with my personal and with my company's accounts), my bank allows me to enter "optional SEPA fields", most of them look redundant or useless, but one is a bit ...
o0'.'s user avatar
  • 193
7 votes
1 answer
3k views

What is the usual delay for a SEPA transaction?

I wired some money from France to someone having an account in Germany, using a SEPA (Single Euro Payments Area) My bank acknowledged the transfer, and the person is telling me his didn't. He is ...
BenoitParis's user avatar