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The Single Euro Payments Area (SEPA) is a single payment market, which allows consumers and businesses to make and receive payments across the region as easily as transactions are made currently within national borders, under the same basic rights and obligations.

Is it right for you?

  • Exchange euro payments/collections between any accounts in SEPA as easy as it is within national borders
  • Benefit from improved efficiency and competition in the payments market
  • Standardised, rather than country by country, formats facilitate the centralisation of accounts and payment flows

Which countries are in SEPA?: Collapsed

In total, 34 countries are part of the Single Euro Payments Area:

  • 19 EU Euro countries - Austria, Belgium, Cyprus, Estonia, Finland1, France2, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal3, Slovakia, Slovenia, Spain4
  • 9 EU non-Euro countries - Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, United Kingdom5
  • 2 non-EU, Euro countries – Monaco, San Marino
  • 4 non-EU, non-Euro countries - Iceland, Liechtenstein, Norway, Switzerland

Please note: Andorra, Kosovo, Montenegro and the Vatican City use the Euro as their domestic currency but do not belong to SEPA.

1 Including the Åland Islands.
2 Including Martinique, Guadeloupe, French Guiana, Reunion, Saint Martin, Saint Pierre and Miquelon, Mayotte, and Saint Barthelemy.
3 Including Azores and Madeira.
4 Including the Canary Islands, Ceuta and Melilla.
5 Including Gibraltar, Guernsey, Jersey and Isle of Man

What are the benefits of SEPA?: Collapsed

The SEPA vision is one of a harmonised European-wide standard payments environment using mandatory and consistent ISO 20022 XML messaging. Eventually, it will bring significant savings to companies by driving down transaction costs and cross-border charging practices.
Further benefits include:

  • A reduction in the number of bank accounts needed to do business across Europe
  • Faster settlements and simplified processing
  • Increased transparency of pricing and fees
  • Potential for the centralisation of accounts and payment flows

Aspects of SEPA : Collapsed

The four main SEPA instruments  are:

  • SEPA Credit Transfers (SCT)
  • SEPA Direct Debits Core (SDD Core)
  • SEPA Direct Debits Business to Business (SDD B2B)
  • SEPA Cards Framework (SCF)

What has been delivered so far? : Collapsed

Key milestones that have been delivered for SEPA to date include:

  • 2008: The SEPA Credit Transfers scheme was launched
  • 2009: The SEPA Direct Debits Core and Business to Business schemes went live
  • 2012: The cross-border bank interchange fee was abolished
  • 2014: The mandatory migration deadlines for euro countries were successfully met
  • 2016: BIC became optional except when a non EEA country was involved in the transaction. Banks in non-Euro countries were obliged to become compliant (e.g. UK & Sweden) if they were previously offering non-urgent euro transactions.

Our SEPA related products

Barclays SEPA Direct

Optimise the collection of pan-European and in-country Euro Direct Debits and SEPA payments using our end to end, fully managed online system.

SEPA Credit Transfers

Provides the ability to send non-urgent Euro payments within the SEPA area.

SEPA Direct Debits

A pan-European Euro Direct Debit service, enabling collections from and payments by SEPA Direct Debit to all of the countries in the SEPA area.

I want to:

Manage my cash more effectively

We offer flexible services for cash management, including optimising access to group liquidity, managing foreign currencies and handling payments.

Talk to us

Find out more about SEPA by talking to your Relationship Director.

New to Barclays? Our experienced UK-based team can listen to your business need, offer assistance on-the-spot or put you in touch with the right specialist at Barclays. Call us on:

0800 015 4242*

Alternatively we can call you back or you can email us with your query.

How can we help?

To discuss switching to Corporate Banking at Barclays, call us on: 0800 015 4242 *