SEPAÜberweisungsverkehr

SEPAÜberweisung is the German term for a SEPA transfer, which stands for Single Euro Payments Area. This standardized payment system allows for the transfer of euro-denominated funds between bank accounts located within the SEPA zone. The SEPA zone includes all member states of the European Union, as well as Iceland, Liechtenstein, Norway, Switzerland, Monaco, and the UK. The primary goal of SEPA is to simplify cross-border payments within this region, making them as easy and inexpensive as domestic transfers.

SEPAÜberweisungen are characterized by their use of the IBAN (International Bank Account Number) and the BIC (Business Identifier Code), though the BIC is often no longer required for transfers within the Eurozone. These transfers typically have a maximum processing time of one business day for standard transfers and are often free of charge or have very low fees, depending on the bank. Direct debits and card payments are also part of the SEPA scheme, but SEPAÜberweisung specifically refers to the credit transfer method. This uniformity has significantly streamlined financial transactions for individuals and businesses operating across different European countries.