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SEPA payments

BitEffect payment system offers for users opportunity to make SEPA payments in Europe. These transactions are absolutely free for company customers. But some people still do not know what SEPA payments are and by what principle they work.

SEPA stands for Single Euro Payments Area.

SEPA transfers are a means of interbank payment transactions based on the general rules and procedures applicable to transfers in euros. This tool, adopted in January 2008, has the following features:

  • access for all customers in the SEPA zone;
  • lack of a limit of funds in the user’s bank account;
  • minimum term for the transfer;
  • two codes are used to identify the user: bank identification code (BIC) and international bank account number (IBAN).

In other words, SEPA payment is an opportunity to quickly and easily transfer money in euros in 35 countries for a minimal fee.

SEPA zone

SEPA zone includes 35 countries. These include Eurozone countries: Spain, Slovenia, Slovakia, Greece, Austria, Portugal, Norway, the Netherlands, Germany,

Malta, Luxembourg, Latvia, Lithuania, Liechtenstein, Cyprus, Italy, Iceland, Ireland, France, Finland, Estonia, Belgium. Further Andorra, Bulgaria, Czech Republic, Denmark, Croatia, Iceland, Liechtenstein, Hungary, Monaco, Norway, Poland, Romania, San Marino, United Kingdom, Sweden, Switzerland.

Regardless of the unification of the entire SEPA banking payment system, banks in the Czech Republic make these payments at completely different prices. Some offer their customers the opportunity to make SEPA payments completely free of charge, while others make transfers for 200 CZK.

 

Register in the BitEffect system and make money transfers all over Europe for free!

SEPA payments