What does "SEPA" (Single Euro Payments Area) mean?
A SEPA payment is a payment that meets the following conditions:
➤⠀is made in EURO;
➤⠀is in "normal " mode (so no emergency);
➤⠀and has as its beneficiary bank a bank in the SEPA area (European Union Member States).
Any payment that meets these conditions will be settled through a special system without going through the correspondence banks. 👍
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