New SEPA rules: Sending funds to our EUR client accounts should now be free and take up to two days

Claire Hogarth01/Feb/2016In The News

Starting on 1 February, cross-border fund transfers are governed by the new Single Euro Payments Area (SEPA) rules, which require banks to charge the same amounts for payments within the EU as they do for domestic payments.

The aim of SEPA is to continue the EU’s path towards being considered a single banking area, essentially removing the barriers to trade of bank fees and inconveniences caused by sending funds from one area of the EU to another.

When you send funds to our SEPA-compliant EUR accounts, to pay suppliers across the world in their local currency for example, your bank shouldn’t charge you for transfers from the countries listed below and process payments within one or two days, the same as for payments from one bank to another within one of those countries. You need to check with your bank though whether any charges or fees apply as not every bank handles transfers in the same way.

From where you can take advantage of the new transfer rules:

Aland Islands
Austria
Azores
Belgium
Bulgaria
Canary Islands
Croatia
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
French Guiana
Germany
Gibraltar
Greece
Guadeloupe
Hungary
Iceland
Ireland
Italy
Latvia
Liechtenstein
Lithuania
Luxembourg
Madeira
Malta
Martinique
Mayotte
Monaco
Netherlands
Norway
Poland
Portugal
Reunion
Romania
Saint Barthelemy
Saint Martin (French part)
Saint Pierre and Miquelon
San Marino
Slovakia
Slovenia
Spain
Sweden
Switzerland
UK

To discuss this, alternative transfer methods or other fund-transfer-related requirements your business may have, call us on +44 (0) 845 519 1009.

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Written by Claire Hogarth

Marketing Executive at Ebury. English Literature graduate from the University of York and a motivated professional.