Question: What is a SEPA transfer and how long does it take to receive it ?

Answer: You've probably heard of SEPA Credit Transfers but don't know what they are really for? SEPA Credit Transfers are a Europe-wide transfer system for transferring euros within the European Union. It is one of the fastest, cheapest and safest ways to move your money within the 36 member states of the SEPA zone and their associated territories. What does SEPA mean? 🇪🇺 SEPA (Single Euro Payments Area) is a network initiated by the European Union that aims to make bank transfers in euros across Europe as easy as domestic transfers. ​ Which countries are included in SEPA? 🌍 SEPA currently has 36 Member States: ​ Eurozone countries in the European Union (20) Austria Belgium Croatia Cyprus Estonia Finland  (including the Åland Islands) France  (including French Guiana, Guadeloupe, Martinique, Mayotte, Saint-Barthélemy, Saint-Martin (French part), Réunion and Saint Pierre and Miquelon) Germany Greece Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Portugal  (including Azores and Madeira) Slovakia Slovenia Spain  (including the Canary Islands, Ceuta and Melilla)   France * : Excluding French overseas collectivities French Polynesia, New Caledonia, and Wallis and Futuna. ​ SEPA currently applies in a complementary way to national credit transfers in SEPA countries that are not part of the euro area (see below). In these countries, it is still possible to receive payments via both systems: SEPA for payments in euro and the national payment system in the country's currency: ​ Non-euro area countries in the European Union (7) Bulgaria Czech Republic Denmark Hungary Poland Romania Sweden   SEPA countries outside the EU, members of EFTA (4) Iceland Liechtenstein Norway Switzerland   Microstates that have special monetary agreements with the EU (4) Iceland Liechtenstein Norway Switzerland The United Kingdom , although it has left the EU.   How does a SEPA bank transfer work? 🚀 There are three types of SEPA bank transfers, all available with Qonto, which offer three different services: The standard SEPA credit transfer The instant SEPA credit transfer (available for incoming and outgoing transfers at Qonto). The SEPA direct debit (SDD) The standard SEPA credit transfer uses the IBAN (International Bank Account Number) and possibly the BIC (Bank Identifier Code) of the sender's and beneficiary's bank accounts to transfer money from one account to the other. Once the transfer has been authorized, the recipient must receive the money within one to two working days (24 to 48 business hours) after the payment has been made  for  a standard SEPA and within 10 seconds for an instant SEPA. ​ Please note: ⚠️The maximum amount for an incoming instant transfer is  €100,000 . ⚠️ Your Qonto account cannot receive treasury/VSOT transfers. The rejection of a VSOT transfer may result in up to €30 in fees. How long does it take to receive a transfer? The time it takes for a SEPA transfer to be executed depends on the issuer's bank. Standard SEPA transfers Within the Single Euro Payments Area (SEPA), standard transfers are typically completed  within   24 to 48 business hours . ​ Instant SEPA transfers Instant SEPA transfers are processed in just  10 seconds . The maximum amount for an incoming instant transfer is  €100,000 . If you're expecting an incoming SEPA transfer and haven't received it after 48 business hours , we recommend that the sender contacts their bank to make some researches. He can also request a proof of transfer. This document is useful for verifying the entered information. Please note: ⚠️ Your Qonto account cannot receive treasury/VSOT transfers. The rejection of a VSOT transfer may result in up to €30 in fees.   ⚠️An internal SEPA transfer (from a Qonto account to another Qonto account) is processed as an Instant payment (the funds will be credited within 10 seconds). ​ You're expecting a SWIFT transfer? 👉 See this article to get information on  incoming SWIFT transfers receiving time : How can I receive an international SWIFT transfer? ​ You have yourself initiated a transfer? 👉 See this articles to get information on  outgoing transfers receiving time  : When will the beneficiary receive my transfer? ​