BANKING AFFAIRS

Detailed explanation-1: -Thanks to the Single Euro Payments Area (SEPA), customers can now make cashless euro payments – via credit transfer and direct debit – to anywhere in the European Union, as well as a number of non-EU countries, in a fast, safe and efficient way, just like national payments.

Detailed explanation-2: -The Single Euro Payments Area (SEPA) is a mechanism that facilitates the standardisation of electronic payments denominated in euro across Europe. Under SEPA, all bank accounts must be identified by an International Bank Account Number (IBAN) and a Bank Identifier Code (BIC).

Detailed explanation-3: -SEPA payments are only used for euro-denominated transactions. For this reason, the percentage of customers reachable by SEPA payments varies on a country-by-country basis.

Detailed explanation-4: -Coverage. the 20 states that are in the Eurozone: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain.

Detailed explanation-5: -A SEPA transfer is also accessible for companies outside of Europe. When you sign up with B2B Pay, you will get your own account with a bank in Europe, inside the SEPA zone. We provide this service to companies in the United States, Canada, India, Singapore and many other countries.