A SEPA Credit Transfer is a transfer of EUR currency within the SEPA area.
A SEPA Credit Transfer is any euro payment within the EEA that meets the following requirements:
payment is in EUR
the account number of the beneficiary must be entered in the international IBAN format
bank charges are shared “SHA”
participating banks are SEPA participants
SEPA Credit Transfer benefits
Speed - the payment is credited to the beneficiary's account no later than the following banking day
No additional costs – the payment is not limited in amount and is made in full, i.e., the beneficiary's account is always credited with the full amount transferred, the fees of the beneficiary's bank are charged separately (the so-called SHA fee)
End-to-End reference - the XML payment format contains an additional text field (End-to-End reference) in which the payer can enter additional information that banks transmit unchanged
Uniformity – payment processing is carried out under uniform and standardised conditions, observed by all participating banks.
SEPA Credit Transfer in internet and electronic banking
SEPA Credit Transfers can be made through the direct and electronic banking channels:
Online Banking
Smart Banking
BusinessNet
Eltrans 2000 (Gemini 5.0)
MultiCash
EuropeanGate
UC eBanking
In addition to Online Banking, the bank also enables bulk import of SEPA Credit Transfers in all the above-mentioned channels.