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European electronic payments

SEPA

SEPA Credit Transfer

SEPA Credit Transfers, also called SEPA payments, are a quick and cost-effective way of making Euro payments to any of the 41 countries in the single Euro Payments Area (SEPA). SEPA Credit Transfers will reach the beneficiary same day, provided you make the payment before 2pm GMT.

SEPA Credit Transfer allows payments up to €1bn per transaction.

  • Easy way to pay, simply enter the beneficiaries name, International Bank Account Number (IBAN) and Branch Identifier Code (BIC). These details should be provided by the beneficiary.
  • Provide your customer with easy way to pay you, simply provide your customer with your unique International Bank Account Number (IBAN) and Branch Identifier Code (As a NatWest customer you can use NWBKGB2L)
  • You can make and receive SEPA payments from your £ Sterling business account and the currency is automatically converted into Euro for you*.
Information Message

* € Currency Business Accounts are also available, supporting your European payables and receivables, for more information on how to apply please visit Business Currency Current Account.

What you'll need

  1. 01

    Beneficiary's full name

  2. 02

    Beneficiary's SWIFT BIC (Bank Identifier Code)

  3. 03

    Beneficiary's International Bank Account Number (IBAN)

  4. 04

    A payment reference or short description

    Charges will be shared between sender and beneficiary (SHA), meaning you’ll pay our fee (if applicable) and the beneficiary will pay their banks fee.

You can view the full list of countries that are part of SEPA here.

How long will it take?

SEPA Credit Transfers arrive at the beneficiary’s bank the same business day, provided that the payment is made before 2pm (GMT).

If you require a more urgent Euro payment, then your payment can be made via your Royal Bank of Scotland Business card (Non-sterling transaction fee at 2.75%) or online selecting an International Transfer up to 4pm (£15 per transaction).

How much will it cost?

Cost via Bankline

To make a SEPA Credit Transfer our fee is 50p per transaction.

We do not charge for a SEPA Credit Transfer that credits your business account.

Where a transaction requires foreign exchange conversion, a margin is applied.

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Cost via Digital Banking

To make a SEPA Credit Transfer we do not charge you a transaction fee.

We also do not charge a fee for a SEPA Credit Transfer that credits your business account.

Where a transaction requires foreign exchange conversion, a margin is applied.

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