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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If a European bank keeps debiting illegal account management charges, is there a way to block debits or even enforce a SEPA direct debit charge back? [duplicate]

If a European bank at which you have an account keeps debiting illegal account management charges from said account (e.g. an arbitrary 300% of the amount contractually agreed) and doesn't react to ...
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0 votes
0 answers
75 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 ...
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0 votes
0 answers
99 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 ...
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1 vote
0 answers
65 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 ...
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1 vote
0 answers
106 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 ...
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2 votes
2 answers
6k 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 ...
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1 vote
3 answers
158 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 ...
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0 votes
1 answer
134 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 ...
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1 vote
1 answer
364 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. ...
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5 votes
2 answers
421 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 ...
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  • 149
0 votes
1 answer
79 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. ...
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  • 101
2 votes
0 answers
72 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 ...
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2 votes
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 ...
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22 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....
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  • 321
2 votes
4 answers
543 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 ...
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  • 123
1 vote
1 answer
123 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 ...
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  • 113
3 votes
1 answer
144 views

Extraterritorial USA sanctions: How to tell how exposed 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 ...
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  • 158
1 vote
1 answer
837 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 ...
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  • 11
2 votes
1 answer
3k 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 ...
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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 ...
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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. ...
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3 votes
0 answers
77 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 ...
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  • 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 ...
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