SEPA countries list: everything you need to know

SEPA transfers might still be a confusing topic, especially when you try figuring out which countries participate in the scheme. You may wonder why the SEPA zone was established in the first place and what the rules and regulations are for sending and receiving euro transfers.

In this blog post, Genome provides essential information on the SEPA system in 2025, the list of SEPA member countries, and what you need to make SEPA payments.

What is single euro payments area (SEPA), and why it matters

The discussions and preparations for implementing the Single Euro Payments Area (SEPA) financial initiative started in the early 2000s as the euro became the official EU currency. However, only 10 years later, the idea of free and fast euro transfers all over Europe became possible. 

The main goal of the SEPA zone is to make cross-border transactions as simple as national ones, simplifying transactions and making them more affordable. 

In 2008, SEPA Credit Transfer came into power, which is now commonly used among European countries, even Vatican City and Monaco. 

SEPA Direct Debit scheme was launched in 2010. Note that SEPA Direct Debit has two types: SEPA Direct Debit Core and SEPA Direct Debit B2B. The last one, SEPA Instant Credit Transfer, was adopted in 2017. You can find out more about SEPA Credit, Instant, and Direct Debit transfer types in a separate article. 

The complete SEPA countries list

At present, 26 out of 27 EU countries fully participate in SEPA.  

The full list of SEPA countries in the EU includes: 

• Germany;

• France; 

• Spain;

• Italy; 

• Portugal;

• Lithuania; 

• Sweden; 

• Czech Republic; 

• Netherlands; 

• Finland; 

• Estonia; 

• Latvia; 

• Poland; 

• Belgium; 

• Hungary; 

• Slovenia; 

• Austria; 

• Croatia; 

• Luxembourg; 

• Bulgaria; 

• Slovakia; 

• Romania; 

• Greece; 

• Republic of Cyprus; 

• Malta; 

• Ireland.

Note that Denmark, while an EU country, does not fully participate in SEPA, although Danish banks still accept SEPA payments. 

Apart from EU member states, 9 more SEPA countries enjoy all the benefits of SEPA: 

• The UK; 

• Monaco; 

• Liechtenstein; 

• Norway; 

• Switzerland; 

• Andorra; 

• Vatican City State; 

• Iceland; 

• San Marino. 

French overseas territories that use SEPA payments (but not a part of the EU):

• Mayotte;

• Réunion;

• Guadeloupe;

• Martinique;

• French Guiana;

• Saint Pierre & Miquelon;

• Saint Barthélemy.

Spanish and Portuguese territories that use SEPA payments:

• Canary Islands (Spain);

• Ceuta & Melilla (Spain);

• Madeira (Portugal);

• Azores (Portugal).

Other regions that use SEPA payments:

• Åland Islands (Finland);

• Gibraltar (UK overseas territory);

• Isle of Man, Jersey, Guernsey (British Crown Dependencies).

Key details about each SEPA country

Europe is multi-layered when it comes to SEPA countries: the situation with the EU member states, like Italy, Belgium, Ireland, and others, is pretty simple to understand. But, with other countries, this is not the case. 

For example, does post-Brexit Great Britain allow SEPA payment schemes? Or Switzerland, which was never a part of the EU in the first place? France and its overseas territories are also interesting. 

Thus, let’s go through the most notable SEPA country & territory specifics:

• Monaco: Uses the euro but is not an EU member. SEPA payments work normally, but banks may impose stricter compliance checks.

• San Marino: Also not a member of the European Union, despite it being completely surrounded by Italy, but still works for SEPA payments.

• Andorra: Another non-member, a relatively newer SEPA member (since 2019).

• United Kingdom: despite Brexit, SEPA payments remain possible, but some banks from the European Union may apply extra fees or additional compliance steps towards UK banks.

• Switzerland: Non-EU member but is a member of the SEPA zone. Swiss banks may charge some extra fees for SEPA transactions.

• Norway, Iceland, Liechtenstein: EEA members follow the SEPA zone rules but have some regulatory differences compared to EU countries.

Special Single Euro Payments Area (SEPA) territories:

• Canary Islands and Ceuta and Melilla: These are parts of Spain and are considered to be within the SEPA zone and the European Union. However, they have different tax regulations, sometimes affecting business-related transactions.

• Vatican City: despite its location in the center of Rome, Vatican City is not an EU member. It uses the euro and participates in SEPA, but the banking sector is highly specialized. For instance, SEPA Instant Transfers aren’t available in the Vatican City.

• Saint Barthélemy, Saint Pierre, and Saint Martin. Saint Barthélemy and Saint Pierre & Miquelon, as French overseas territories, are part of SEPA but do not belong to the European Union. French Saint Martin is part of both the EU and SEPA, while Dutch Sint Maarten is outside both.

Practical tips

• If you deal with so-called offshore territories, always check if your bank applies extra fees due to a specific national taxation system.

• Be aware of additional compliance with non-EU SEPA countries (e.g., Switzerland, UK, Monaco).

• Make use of SEPA Instant Transfers where available. Many European banks and financial institutions, including Genome, now support SEPA Instant Transfers, allowing near-instant transfers instead of waiting for standard processing times.

How SEPA benefits businesses and individuals

SEPA zone simplified euro transactions across Europe. Below, we provide the list of SEPA advantages the scheme offers. 

For businesses:

1. Cost savings on transfers. SEPA payments are typically low-cost, making international payment transactions cheaper.

2. Faster transaction times. Standard SEPA Credit Transfers settle within one business day, while SEPA Direct Debit is up to 2 working days. And SEPA Instant Transfers are, of course, settled within seconds.

3. Unified payment standards. Businesses can use the same euro payment process across the SEPA zone countries, from Ireland to Malta.

4. Improved cash flow. Faster payments mean businesses can manage liquidity more effectively, avoiding unnecessary delays thanks to the SEPA zone.

5. Reduced currency exchange risks. Because the SEPA zone works only with euro payments, there are no issues with currency conversion. 

For individuals:

1. Blurred the difference between international payments and domestic ones. Whether working remotely or studying abroad, people can send and receive euro payments as easily as in their home countries.

2. Lower fees. SEPA ensures that euro payments across borders cost the same as local transactions.

3. Instant access to funds. Before the SEPA zone and the spread of the euro, there was a real challenge to getting access to your money in another country in Europe, even if it was part of the EU.

4. Super-fast payment transactions. SEPA Instant Payments allow for immediate money transfers much faster than SWIFT. Even regular SEPA Credit Transfers are faster, taking from 4 hours up to a business day.

5. Secure transactions. SEPA enforces strict fraud prevention and security measures, ensuring safe money transfers.

Here are some real-life scenarios that showcase how using SEPA can benefit your day-to-day financial operations.  

1. An online retailer based in Saint Martin can easily sell products to customers in the Netherlands and Italy. With SEPA, they can accept payments in euros without dealing with complex cross-border banking.

2. A retiree from Monaco moves to French Guiana. Thanks to SEPA, they can continue using their French bank account for local expenses without additional transfer costs.

3. A tech startup in Switzerland has remote employees in French Guiana, Ireland, and Italy. SEPA ensures that salaries are sent efficiently without extra banking hurdles.

4. A graphic designer in France works for a Malta-based company and has clients across Monaco and France. SEPA ensures they receive euro payments quickly, without international wire fees.

Making SEPA payment transactions step by step

If you live in Europe and are considering making cross-border payments to other SEPA countries, why not try Genome? Personal and business wallet users can make euro payments with ease, utilizing both SEPA Credit and Instant Transfer options.

Making SEPA transfers is very straightforward, whether you use our web platform or the Genome app. For instance, say you want to send a payment from Malta to Belgium. All you need to do is:

1. Log into my.genome.eu;

2. Go to the Transfers menu;

3. Select the Bank transfer option and use your EUR account;

4. Fill out the transfer details:

5. That’s it! Your Malta-Belgium SEPA transfer has been sent!

But there is more to Genome than just SEPA Instant/Credit Transfers. You can start multi-currency accounts in 11 different currencies to store and better manage your funds.

Additionally, you can order virtual and physical Visa cards and link them to accounts in EUR, USD, GBP, PLN, CHF, CZK, HUF, or SEK for seamless purchases across Europe!

Our business wallet users can also access other international transfer options, including SWIFT if they are eligible. 

Final thoughts

SEPA zone truly simplifies euro transactions across its participating countries by standardizing payment processes, which leads to reducing fees and just increasing efficiency.

The main benefits for businesses and individuals come from faster and affordable cross-border payments, improved financial integration, and greater transaction management convenience. 

If you operate within the SEPA zone, you can easily access both SEPA Credit and Instant Transfers by starting an account at Genome!

FAQs

Are there any fees for SEPA transfers between participating countries?

Financial institutions generally charge a small fee for SEPA payments, but it may vary depending on the bank or payment provider.

Do non-EU countries fully participate in SEPA as well?

Some of them, yes. Several non-EU countries, such as the UK, Norway, Switzerland, or some French overseas territories, participate in SEPA, but their banking regulations may differ from EU member states. For more information, refer to the list of SEPA countries above.

Is a BIC code always required for a SEPA payment?

No, it’s not always required for SEPA payments. If you make SEPA payment transactions inside Genome, only an IBAN is needed, as we pre-fill out the BIC for you. BIC, in fact, is a SWIFT code. The terms are interchangeable.

How quickly do SEPA transfers typically arrive?

SEPA Credit Transfers usually arrive within one business day, SEPA Direct Debit transfers take up to 2 business days, while SEPA Instant are processed in seconds, 24/7.

Can I use SEPA to send money in currencies other than the euro?

No, SEPA Credit, Instant, and Direct Debit are specifically designed for transactions in euros. 

What happens if I send a payment to a non-SEPA country by mistake?

The payment would be rejected if the transaction was non-euro or processed as a standard international transfer with much higher fees and longer processing times. In any case, just contact your bank immediately.