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Enjoy the benefit of uniform conditions in the processing of payments and direct debits within the SEPA area.

Domestic and foreign payment order simply

SEPA payments – uniform processing of payments

SEPA direct debit as a cashless payment

SEPA direct debit – uniform processing of direct debits

Uniform account identification for SEPA payments

IBAN – account identification standard

SEPA countries

Euro currency countries in the EU
Austria Italy
Belgium Latvia
Croatia Lithuania
Cyprus Luxemburg
Estonia Malta
Finland Netherlands
France Portugal
Germany Slovakia
Greece Slovenia
Ireland Spain
Countries outside the EEA*
Andorra Switzerland
Monaco United Kingdom (including Gibraltar)
San Marino Vatican

*SEPA payments to countries outside the EU and EEA are temporarily charged as SEPA payments within the EU and EEA.

Non-euro currency countries of the EU
Bulgaria Poland
Czech Republic Romania
Denmark Sweden
The EEA countries outside the EU
Iceland Norway

SEPA benefits

Payments in the SEPA area offer several practical benefits for both natural persons and entrepreneurs.

  • Available bank instruction: IBAN (International Bank Account Number) is the sole account and bank identifier for SEPA payments.
  • One account only: Citizens and businesses from SEPA countries need just one bank account from/to which payments can be made/received in Euro within the SEPA area as easily as domestic payments.
  • Simple payment processing: As all incoming and outgoing payments have the same format, their processing is simpler (universal message standards, ISO 20022).
  • Faster payment clearing process: Payments are credited to the recipient on the next business day after the receipt of the payment order in the payer’s bank.
Sepa payment offers you several benefits

SEPA payments

A SEPA payment is a cashless payment in Euro made within the SEPA area. The payment order is made by the payer. It is credited to the recipient’s account on the next banking business day after debiting from the payer’s account (D + 1).

Important data for a SEPA payment

  • IBAN: IBAN (International Bank Account Number) is used to clearly identify the payment account.
  • BIC: BIC (Bank Identifier Code) is used to identify the bank at which the recipient’s/payer’s account is held. IBAN contains details about the recipient’s/payer’s bank, BIC is an optional identifier for payment orders within the SEPA area. It is only compulsory in the foreign payments system.
  • Payer’s reference: used for a more specific payment identification. Payment symbols (variable (VS), specific (SS) and constant (KS) symbols) are used for this purpose in Slovakia. They are transferred in the field “Payer’s reference” in accordance with the agreed rules. An example of a payer’s reference: /VS1234567890/SS9876543210/KS1234.

    For a foreign SEPA payment, the field “Payer's reference”:
    1. cannot contain the “/” sign in the first or last position,
    2. cannot contain “//” (two slashes in a row).
  • XML standard: XML format under ISO20022 Standard is used to import payment orders and export electronic statements.

Look at the steps of SEPA payments

SEPA Direct Debits

A SEPA direct debit is a cashless payment made in Euro within the SEPA area. The payment order is submitted by the payee. The payer authorizes a direct debit by an authorization directly to the payee.

  • SEPA direct debit authorization is a payer’s paper or electronic approval to debit his/her account via a SEPA direct debit. The payer issues the authorization directly to the SEPA direct debit payee and the direct debit payee is obliged to archive this authorization.
  • XML standard uses the XML format under ISO20022 Standard. The bank provides the Multicash electronic system for sending SEPA direct debit payment orders.
  • More about SEPA direct debit

Sepa Direct Debit procedure

SEPA via Internet bankingTB

A valid payment order entered via Internet BankingTB includes the payer’s and payee’s account in the form of IBAN and payment identification in the form of a payer’s reference. For successful payment execution follow these procedures:

  • For a domestic payment order, enter the payer’s reference for more specific payment identification. After entering the variable, specific and constant symbols, the payer’s reference is added automatically. You can enter the payee’s account number as IBAN, otherwise IBAN will automatically be added after entering the payee’s account number.
  • For a foreign payment order, if you are sending a payment in Euro and the payee’s IBAN is from the SEPA area, you can enter the payer’s reference for more specific payment identification.
  • If you use batch payments (payment order files), use the XML transfer format with the structure pain.001
  • You also have statements for your accounting records available: electronic statements generated via Internet BankingTB for SEPA purposes in XML format – camt.053.
  • To enter a SEPA direct debit authorization, use various access levels to your account.

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