Making euro payments across borders within Europe and beyond has been significantly simplified thanks to the Single Euro Payments Area (SEPA). This initiative allows customers to make cashless euro payments – whether through credit transfers or direct debits – to any location within the SEPA zone, encompassing not only the European Union but also several non-EU countries. These transactions are processed with the same speed, safety, and efficiency as domestic payments. Introduced initially for credit transfers in 2008 and followed by direct debits in 2009, SEPA was fully implemented across the Euro area by 2014 and extended to non-Euro area SEPA countries by 2016.
The integration of payments facilitated by SEPA has been instrumental in boosting the efficiency and competitiveness of the European economy. By standardizing payment processes across participating nations, SEPA has effectively eliminated the discrepancies between national and cross-border payments. The legal underpinning of SEPA, formulated with significant input from the European Central Bank (ECB) in collaboration with the European Commission, is primarily based on key regulations and directives. These include the Cross-border payments Regulation, the Payment Services Directive (PSD/PSD2), the SEPA migration end-date Regulation, and the Interchange Fee Regulation.
SEPA’s inception was a collaborative effort led by the European banking and payments industry, with strong backing from national governments, the European Commission, the Eurosystem, and other public bodies. Given its dual role in harmonizing non-cash euro payments and complementing the euro’s establishment as a single currency, the Eurosystem was deeply invested in ensuring the success of the SEPA project.
Broad Participation in the SEPA Network
The SEPA region is extensive, currently comprising 38 European countries as of January 17, 2025. This includes nations that are not part of the Euro area or the European Union, highlighting SEPA’s reach beyond the Eurozone.
Exploring SEPA Countries: An Interactive Map
[Interactive map of countries in the Single Euro Payments Area (SEPA)]
This interactive map provides a detailed overview of the countries participating in SEPA. Users can select a country to view specific details regarding their participation.
Country-Specific SEPA Participation Details
Austria
EU member using the euro
EU member since 1995
Euro since 1999 (cash since 2002)
Belgium
EU member using the euro
EU founding member in 1957
Euro since 1999 (cash since 2002)
Bulgaria
EU member not using the euro
EU member since 2007
Cyprus
EU member using the euro
EU member since 2004
Euro since 2008
Czech Republic
EU member not using the euro
EU member since 2004
Germany
EU member using the euro
EU founding member in 1957
Euro since 1999 (cash since 2002)
Denmark
EU member not using the euro
EU member since 1973
Estonia
EU member using the euro
EU member since 2004
Euro since 2011
Spain
EU member using the euro
EU member since 1986
Euro since 1999 (cash since 2002)
Finland
EU member using the euro
EU member since 1995
Euro since 1999 (cash since 2002)
France
EU member using the euro
EU founding member in 1957
Euro since 1999 (cash since 2002)
Greece
EU member using the euro
EU member since 1981
Euro since 2001 (cash since 2002)
Croatia
EU member using the euro
EU member since 2013
Euro since 2023
Hungary
EU member not using the euro
EU member since 2004
Ireland
EU member using the euro
EU member since 1973
Euro since 1999 (cash since 2002)
Italy
EU member using the euro
EU founding member in 1957
Euro since 1999 (cash since 2002)
Lithuania
EU member using the euro
EU member since 2004
Euro since 2015
Luxembourg
EU member using the euro
EU founding member in 1957
Euro since 1999 (cash since 2002)
Latvia
EU member using the euro
EU member since 2004
Euro since 2014
Monaco
Non-EU country
Malta
EU member using the euro
EU member since 2004
Euro since 2008
The Netherlands
EU member using the euro
EU founding member in 1957
Euro since 1999 (cash since 2002)
Poland
EU member not using the euro
EU member since 2004
Portugal
EU member using the euro
EU member since 1986
Euro since 1999 (cash since 2002)
Romania
EU member not using the euro
EU member since 2007
Sweden
EU member not using the euro
EU member since 1995
Slovenia
EU member using the euro
EU member since 2004
Euro since 2007
Slovakia
EU member using the euro
EU member since 2004
Euro since 2009
San Marino
Non-EU country
In addition to these countries, Andorra, Liechtenstein, Monaco, San Marino, and Vatican City State / Holy See also participate in SEPA, broadening its scope beyond the map’s visual representation.
Key Facts & Figures of SEPA
| Name | Single Euro Payments Area |
|---|---|
| Implementation Year | 2014 for Euro area countries, 2016 for non-Euro area SEPA countries |
| Currency | Euro |
| Cashless Payment Instruments | Credit transfer, direct debit |
| Processing Speed | No longer than one business day for electronic payments; two business days for paper-based payments |
| SEPA Area | 38 countries (including non-Euro area and non-EU countries) (status: January 17, 2025) |
| Key Stakeholders | European banking and payments industry, payment service users, national governments, European Commission, Eurosystem, and various public authorities |
| Role of the Eurosystem | Catalyst |
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Alt texts for images:
- “ – Alt text: European Union flag, symbolizing EU membership within the Single Euro Payments Area.
- “ – Alt text: Euro currency symbol, indicating Euro adoption in SEPA member countries.
