Your guide to fast and simple SEPA transfers

If you live in the UK and need to manage money across Europe — whether you're sorting a utility bill in France, settling up with a colleague in Germany, or paying off a mortgage in Spain — you've probably heard of SEPA payments.

Traditional banking systems often treat payments between countries as international wires, subjecting them to high fees, fluctuating exchange rates, and lengthy processing times. These are the problems the Single Euro Payments Area, or SEPA, was created to solve.

At Revolut, we believe sending money should be instant, transparent, and effortless. This guide breaks down the technical aspects of a SEPA payment, explains how long they take, and tells you exactly how we use them to offer you a simple money transfer experience.

Want to learn more about sending money in euros? Explore our guide on how to send money to Europe.

What's SEPA?

SEPA was launched by the EU to standardise and streamline electronic payment processing across its member states and several non-EU countries. The primary goal was to make payments made in euros as easy, fast, and safe as domestic transfers within a single country.

Think of SEPA as creating one single, unified market for euro payments. Before SEPA, transferring €100 from London to Berlin, even if you held a euro account, was often treated differently than transferring £100 within the UK. By setting up a single set of legal and technical requirements for bank transfers, SEPA ensured that all participating payment service providers (PSPs) operate under the same framework.

This means that if you're making a transfer in euros, you benefit from:

• Consistency: the payment process and required bank details are the same, regardless of where the sending or receiving account is located within the zone
• Transparency: fees for cross-border euro payments within SEPA are often not allowed to be higher than fees for equivalent domestic euro transfers
• Efficiency: the SEPA scheme defines maximum processing times, ensuring payments arrive quickly

Which countries are included in the SEPA zone?

The SEPA zone isn't limited to countries that use the euro, nor is it limited to EU member states.

The SEPA area includes all 27 EU states and the 3 European Economic Area (EEA) countries: Iceland, Liechtenstein, and Norway. It also extends its geographical scope to several non-EEA nations, including the UK. This enables smooth euro transactions between the UK and countries on the continent.

Other non-EU countries and territories that participate include:

• Switzerland, Monaco, San Marino, Andorra, and Vatican City State
• British Crown Dependencies (Guernsey, Jersey, Isle of Man)
• Various French and Spanish territories in the area

This means that if you need to send euros to virtually any account across Europe, your bank or PSP will use SEPA.

How SEPA euro payments work

SEPA has standard rules for 2 types of transactions: Credit Transfers and Direct Debits. Understanding these rules helps clarify why your money moves the way it does.

The standard SEPA Credit Transfer

The SEPA Credit Transfer (SCT) is when the sender initiates the transfer and decides when and how much money to send. SCTs are used for one-off payments and scheduled, recurring transfers.

How SCTs ensure standardisation:

• Single currency: all SCT payments must be in euro (€)
• IBAN required: the International Bank Account Number (IBAN) is required for reaching the recipient's account
• Limits: while there are no limits for SCTs, individual banks or payment providers may impose their own limits for security or liquidity reasons

SCTs are the backbone of easy eurozone payments for customers, making it simple to transfer money to another person’s account anywhere within the 36 participating countries.

Understanding SEPA Direct Debits

SEPA Direct Debits (SDDs) are pull payments used by businesses or service providers to collect recurring payments from a customer’s account, such as utility bills, subscriptions, or loan repayments. This requires the customer to have given prior formal permission — known as a mandate — to the creditor.

For you as a customer, the SDD scheme offers important rights:

• Mandate control: you must authorise the SDD mandate before any payment can be taken.
• Refund rights: for authorised debits, you have an 8-week period to request a no-questions-asked refund from your bank. For unauthorised debits, this period is extended to 13 months.

SDDs allow businesses to operate across Europe efficiently while providing customers with clear protections against incorrect or fraudulent payments.

How long does a SEPA transfer take?

Speed is probably the main benefit offered by SEPA transfers compared to older methods of international banking.

For a standard SCT, the rule in the past was that money must be added to the recipient's account by the end of the following day. This meant that if you sent a payment on a Monday, it must arrive by the close of business on the Tuesday. While fast, this still meant a 24–48 hour wait, especially if a weekend or public holiday fell in between.

However, in 2017, it was mandated that SCTs must be transferred and made available to the recipient within 10 seconds, regardless of the time of day, day of the week, or location. Many banks and providers across Europe have implemented this, but not all are fully connected or offer it to retail customers as standard.

We use the SEPA instant transfer method when available, so your money will arrive within a few minutes. If it's not available for your transfer, we use the regular SEPA transfer method, which can take up to 2 business days.

Eliminating delays: our commitment to speed

At Revolut, we actively participate in and prioritise the instant SEPA method when possible. When you send money to a country connected to the SEPA Instant scheme, we automatically use the fastest route possible. This means that your SEPA transfers often arrive in seconds, not hours or days.

This difference isn't just a technical detail — it's a vital part of our customer experience. It means:

• No waiting: pay a bill at 8pm on a Sunday, and the money is there right away
• Immediate confirmation: both you and the recipient receive real-time notifications via our money transfer app, confirming the transfer’s success immediately
• Enhanced cash flow: whether you're an individual sending emergency funds or a business managing supplier payments, the certainty of instant arrival is important

Instant transfers are a great reason to use an innovative provider like us, as we'll use the SEPA Instant for your transfers whenever available.

What information do I need to make a SEPA payment?

Making a SEPA payment requires less information than a traditional international wire, but getting the required details correct is vital for an instant, seamless transfer. The International Bank Account Number (IBAN) largely replaces multiple national account formats.

The non-negotiable details: IBAN and BIC

The 2 key identifiers you need for any SEPA transaction are the IBAN and, occasionally, the BIC.

• IBAN: this is the standardised account format used across the SEPA zone. It always begins with a 2-letter country code (e.g. GB for the UK, DE for Germany, FR for France) followed by up to 32 alphanumeric characters. This number contains all the information needed to direct the payment to the right account.
• BIC/SWIFT code: for most SEPA payments, the BIC is no longer technically required because the necessary information is now embedded within the IBAN. However, some older banking systems or certain payment routes may still request it. We'll prompt you if a BIC is required for a particular recipient to ensure the fastest transfer.

The only other detail required is the recipient's full, official name, which must match the name registered on their account.

Understanding authorisation and mandates

To authorise a standard one-off SCT, you just need to log into our platform and confirm the transfer.

The authorisation process for SDDs is more formal. You need to grant a mandate to the company collecting the money. This mandate is an agreement that allows the company to pull money from your account. Whenever you set up an SDD, always make sure you have a copy of this mandate for your records. This is your primary defence in case of any collection disputes.

Fees, charges, and currency conversion

For UK customers sending money to a euro account, the fee structure for a SEPA payment typically involves 2 components:

• The transfer fee: fees for euro transfers within the SEPA zone must be equivalent to the cost of a domestic transfer. With us, local transfers, including those that use SEPA, are often free, providing significant savings over traditional banks.
• The currency conversion cost: since you're likely sending euros from a GBP source (or sending a pre-held euro balance), the exchange rate is important.

We're committed to clear pricing. We use competitive exchange rates and clearly show any small, fixed fee before you confirm the transaction. This way, you know exactly how much the recipient will receive, avoiding the unpleasant surprises that often come with complicated banking platforms.

SEPA vs SWIFT: choosing the right cross-border method

While SEPA is the dominant system for euro transfers within Europe, the SWIFT system remains the global standard for international payments in all other currencies. Understanding the difference is vital for anyone managing money across borders.

Coverage and payment purpose

• SEPA: limited to the 36 participating countries and territories, and transactions must be in euros. It's designed to harmonise European retail payments.
• SWIFT: this is a global messaging network that connects thousands of financial institutions worldwide. SWIFT is used for payments made in any currency (USD, GBP, AUD, etc.) and covers nearly every country in the world.

If you need to send US dollars to the USA, Australian dollars to Australia, or any currency other than the euro to a non-SEPA country, the transfer will be processed via SWIFT.

Speed, cost, and tracking transparency

The key differences between the systems lie in their underlying technology and, consequently, their performance.

The core benefit of SEPA transfers is their certainty and immediacy — 2 qualities that SWIFT often lacks due to its dependence on a chain of intermediary banks. We leverage both systems: SEPA Instant for Europe and a highly efficient, direct SWIFT network for global transfers to minimise delays and fees.

Seamlessly sending money to Europe with Revolut

For UK customers who regularly spend money in the European market, whether for business, travel, or personal reasons, having a reliable way to manage eurozone payments is important. Our platform is built to integrate the best aspects of the SEPA system directly into a simple mobile experience.

Seamlessly handle SEPA in-app

Managing your money shouldn't be a chore. When you have a Revolut account, you can hold multiple currencies, including GBP and EUR, in the same place. This removes the conversion headache and positions you perfectly for making instant SEPA transactions.

How we enhance your SEPA experience:

• Multi-currency account: hold euros and use them for SEPA transfers without having to wait for a conversion process
• Intuitive interface: our app guides you through entering the recipient’s IBAN, flagging any errors immediately so your payment doesn't get bounced back
• Real-time tracking: we provide openness from the moment you hit Send until the moment the money lands — often instantly

Beyond eurozone payments: managing global transfers

While this guide focuses on SEPA, our capabilities go beyond Europe. We offer competitive rates and a streamlined process for sending money globally as efficiently as possible. If you need to send money that's not in euros, or send money to a country outside the SEPA zone, we ensure your money moves quickly and securely.

Ready to start your money transfer journey?

Moving money between countries, especially within the SEPA zone, should be simple, instant, and predictable. If you're still relying on traditional banks that take days, it's time to switch to a smarter, faster way to manage your finances.

Here's a quick guide to getting started with us:

1. Download the Revolut app: get if from the App Store or Google Play.
2. Sign up: the account opening process is digital and can be completed in minutes from your phone.
3. Top up your account: add money to your GBP account easily from your existing bank or card.
4. Send your payment: navigate to Payments, tap the + symbol, and enter the recipient's details. We'll automatically determine the best, fastest route (often SEPA Instant) for your transfer.

With upfront exchange rates and the power of instant payments, we make sending money to Europe as easy as paying a friend.

The information provided is accurate as of 13 October 2025.

Exchange fees, remittance fees, fair usage limits, and T&Cs apply.