What is a SEPA transfer? Alina Cautis 07 March 2022 12:42 Updated A SEPA payment is a European credit transfer based on common European standards. SEPA stands for "Single Euro Payment Area". To be able to use this, you need, for example, international bank account numbers (IBAN) and bank codes (BIC). In contrast to the existing (national and international) transfers, you can use European transfers for domestic and cross-border euro payments. This is possible because European banks will process these payments in the same way. The European credit transfer will eventually replace the current domestic and foreign euro transfers. Related articles How can someone send money to my account? Where can I top up with cash? Wat are the dormancy (inactivity) fees? How can I upgrade to IDV3? Comments 0 comments Article is closed for comments.