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How You Can Make SEPA Euro Transfers from the UK

Posted by : Premraj | Posted on : Tuesday, September 12, 2017

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Single Euro Payments Area (SEPA) is a non-electronic euro payment mechanism offering secure payment solutions. The primary concept of SEPA is to offer a single cashless payment mechanism across the European Union. This allows a payment to be made in one European country and received in another.

Through SEPA credit transfers, individuals and businesses can make payments to a concerned party in Euros. The transfer is possible anywhere within Europe offering greater flexibility, security and convenience. Generally, users have to pay a nominal fee. However, exceptions are there for certain account holders.

SEPA payment providers offer same day or next day payments, making it easier for businesses and individuals who desire immediate transactions.

Transferring SEPA Credit

Another new yet effective way to make your SEPA credit transfers is by online payment software solutions. These software solutions offer immediate SEPA transactions anywhere in Europe. This means if your business has a faster payment solution deployed, you can easily carry out your transactions with ease.

Such payment solutions offer SEPA conversion services. You can get your account converted from your current account to BIC and IBAN. The process is automated and efficient. Moreover, with SEPA direct debit solutions you can make credit transfers anywhere in the European Union in Euros.

If you are wanting a fast process that is efficient and can take place remotely then AccessPay, a reliable company offering payment solutions like SEPA, is one of the best places to look. If you have clients or vendors in Italy for example and you are based in the United Kingdom, simply transfer the credit in Euros using SEPA. You can see how this is done here; http://www.accesspay.com/payments-technology/sepa/.

Transferring SEPA Credit Online

If you have access to online Internet banking, you can leverage the SEPA credit transfer facility from your account. This service can be accessed anywhere, anytime by using a card reader. However, if a card reader is not available you can follow the process mentioned on-screen to make the transaction.

You will first be required to log in to your account. From here, look for the “Other Payments” and select the International Payments option. Accept the terms and conditions and proceed to the SEPA form.

In the SEPA form, you will be required to add the destination of your payment, the name and address of the person receiving the money along with his/her International Bank Account Number (IBAN).

Transferring SEPA Credit at a Bank Branch

If you do not have access to Internet Banking, the next option is to opt for a SEPA credit transfer at a physical bank. This service can only be availed during working days, where same day transactions need to be processed before 11:30 AM.

In order to make a SEPA Credit Transfer from a bank you will be required to present a nationwide account card. However, if the credit amount exceeds £2000 then you will need ID.

You will then be required to fill in the SEPA form.

Things to Consider

It is important to have the accurate details of the recipient.
You will require their IBAN to process the payment.
Make sure that the financial institute does not have any additional requirements.
Before you process the SEPA form, validate the information provided.
You can cancel the payment within 10 days of the date of transfer.

There are multiple ways through which you can process your SEPA Credit Transfers. The trend is relatively new, but is likely to transform the conventional financial transaction mechanism. Businesses that follow a contemporary approach and understand the importance of modern software solutions should invest in SEPA payments system.  The payment solution is soon going to change the fate of the corporate sector and those businesses who do not adopt it will suffer.

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