What is a SEPA payment?

A SEPA payment is a payment in EUR to a bank within the European Economic Area (see list of countries), and is sent to an IBAN. SEPA payments are often called Europe payments, as this reflects the essence of SEPA payments: a method of sending EUR payments cheaply and conveniently within Europe. An EUR payment within Latvia is also a SEPA payment, as both the payer and recipient bank are within the European Union.

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