How SEPA works
SEPA standardises euro transfers using the IBAN, so a cross-border euro payment within the area works much like a local one. SEPA Credit Transfer (SCT) is the standard scheme; SEPA Instant settles in seconds where supported.
Why SEPA matters
For businesses trading in euro, SEPA means fast, low-cost collections and payouts across Europe from a single account and IBAN - without separate local accounts in each country.
SEPA at PlatinumEdge
PlatinumEdge accounts come with dedicated IBANs and support euro payments over SEPA, alongside SWIFT and local rails. See European virtual IBAN accounts.
What is the difference between SEPA and SEPA Instant?
Standard SEPA Credit Transfer settles within a business day; SEPA Instant settles in seconds, around the clock, where both parties' banks support it.
Do I need an IBAN for SEPA?
Yes. SEPA euro transfers are addressed using the IBAN of the receiving account.