07 Apr Simplifying Cashless Euro Transfers: Introducing SEPA

Posted at 01:26h in Europe by

We’re pleased to announce that our customers can now send money to bank accounts in the Single Euro Payments Area (SEPA).

So, what is SEPA?

SEPA is a flawless way to transfer funds to bank accounts across the EU. Supported by the legal framework of the EU, SEPA is a fast and simple system for international payments that provides the convenience comparable to domestic transfers. SEPA is not limited to EU member states only, as it also includes other European countries such as Iceland, Norway, Switzerland, Liechtenstein, Monaco, and San Marino.

What are the advantages of SEPA?

SEPA is designed to increase the speed and reduce the cost of international money transfers. It is a transparent system of rules and standards that eliminates high fees for international money transfers and simplifies the process of conducting international payments. The delivery time of an international transfer in the SEPA system, depending on the recipient bank’s connection to the system, ranges from a few seconds to 24 hours. This speed is achieved by implementing advanced payment security protocols that eliminate the need for manual confirmation by a bank employee.

How can SEPA be beneficial for you?

Want to send money to Europe? Our SEPA gateway offers a fast and simple solution that can reduce waiting times in banks and eliminate delays associated with the approval process by a bank employee. Unlike banks, the processes of sending and verifying payments in SEPA are automated, 24/7, without weekends. Thus, SEPA significantly speeds up and simplifies money transfers to European bank accounts.

What’s the difference between SWIFT and SEPA?

Although SWIFT transfers are widely used for international transfers and cover a wider range of currencies, they are not always as efficient as their name suggests. SWIFT transfers often experience delays due to the need for human intervention in the payment processing chain, and for the same reason, they may be accompanied by high transaction fees. Therefore, SWIFT transfers are slower and more expensive compared to SEPA.

What’s the connection between Moneysend and SEPA?

Moneysend now supports fast transfers to the SEPA zone, making it easy to send money to Europe using our convenient and familiar interface, with just one additional input field for the recipient’s IBAN number. Moneysend allows you to avoid hidden fees or unexpected expenses and take advantage of the best available exchange rate, guaranteeing the optimal balance between price and quality.

How does Moneysend work?

Sending money using Moneysend is easy: just click here and send money online. All you need is the recipient’s bank account number and name, and Moneysend will take care of the rest. With a maximum delivery time of 24 hours, you can enjoy the convenience of sending safe and fast payments around the clock.