Consumers

Only one account needed

A growing number of people in Europe live outside their home country or have to make regular payments to beneficiaries located abroad. Before SEPA, this implied having an account in each country or having to face the difficulties that a cross-border transaction entailed. In the case of direct debits, it was not even possible to use this instrument across countries.

Thanks to SEPA, you will no longer need one account at home and another one abroad. In addition, electronic payments to anywhere in the area will finally be as easy as national payments are today. This concerns both credit transfers and direct debits.

Examples include:

• paying rent for your children studying abroad;
• paying for your holiday home; and
• paying for services provided by European companies (such as telephone, insurance, utilities).

Only one payment card needed

In SEPA, your payment card will be widely accepted for all euro payments. This will also reduce the need to carry cash, for instance when travelling. New standards aim to enhance customer safety and security.

Less time handling payments

A long-term goal of SEPA is to eliminate paper and use electronic payments only. Payments can then be combined with eSEPA services that make the process of paying even simpler. These services already exist in some countries, but they do not necessarily work across borders. SEPA will enable this. In short, with SEPA you will need less time to manage your payments.