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Why SEPA is the preferred option for EUR Transfers in Europe


While both SEPA and Swift are popular money transfer systems for cross-border transactions, SEPA stands out as the preferred choice for EUR transactions inside Europe. 

Let us explore the advantages of SEPA over Swift

Lower Fees for Cost-effective Payments

SEPA transfers are priced as domestic, which means they do not incur the high fees associated with Swift transactions, which many banks charge their users. This makes SEPA an affordable option for individuals and businesses that need to make frequent international transactions.

Faster Processing Time for Time-sensitive Transactions

SEPA transactions are usually processed faster than Swift. Typically, SEPA are processed within 1 business day, while Swift can take up to five business days or more. If your bank supports SEPA INSTANT, the transaction can be completed within a few seconds. This makes SEPA the ideal option for individuals and businesses that require to move funds quickly.

Simpler Process for User-friendly Transactions

SEPA has a simpler process compared to Swift. Only a few pieces of information are required to complete a SEPA transaction. In contrast, Swift transfer needs more detailed information, such as the recipient's bank account number, bank address, routing number, and often also user reference number. This makes SEPA a more user-friendly option for individuals and businesses unfamiliar with the complexities of international transactions.

Widespread Availability for Convenient Transactions

SEPA transactions are widely available throughout the European Union, making it a convenient option for individuals and businesses that need to make transfers within the EEA. However, SEPA may not be available in all countries outside of the EEA for EUR transactions, and so for those outside of the EEA, Swift might be the only option even if it is slower and more expensive than SEPA. 


Transfers of the EUR currency on the SEPA network are cost-effective, faster, and simpler compared to those using the Swift network. Additionally, SEPA is widely available throughout the EEA, making it a convenient option for individuals and businesses that need to make a EUR transfer within the region. If you are looking for a reliable and efficient transaction system for your EUR transfers within the EEA, SEPA is undoubtedly the way to go. For EUR transfers outside of the EEA, the more expensive and slower SWIFT network is expected to remain the most widespread option.

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