What is a SEPA transfer?

A SEPA transfer (also known as a SEPA credit transfer or SCT) is a fast transfer of funds within the Single Euro Payment Area (SEPA).

No limit on the transferred amount
The amount is transferred in full between accounts.
Charges are shared by the payer and recipient (SHA charge type).
The transfer to the recipient’s bank is made on the next banking day after the transfer request due date and credited to the recipient’s bank account on the same day.
Additional information can be added to the transfer request; the recipient receives this as it was written by the payer.
The payment can be transferred on the same business day as the transfer request due date for an additional fee.

By completing a transfer request form and submitting it at one of our branches.
Through George, Business 24 or MultiCash internet banking.
By importing a batch of SEPA payment instructions using Business 24, Business 24 Databanking or MultiCash.

For any SEPA transfers, please enter these mandatory details on transfer requests:

Payer’s bank details
Payer’s account number in IBAN format
Name of recipient’s account
Recipient’s bank details in IBAN format (if the incorrect IBAN is entered, the payment order may be rejected)
Amount in EUR
Due date
The signature on any paper (hard copy) transfer request forms – must match the signature on the signature card for the payer’s account

You can also add the following non-mandatory information:

The purpose of payment, i.e., additional payment related information the recipient may find important
Payment priority
Instructions for any payment receipt confirmation
The exchange rate for the transfer (if negotiated in advance)
Additional identifiers of payment, payee and recipient.