What’s the difference between SEPA and SWIFT?

SEPA and SWIFT are two different international payment systems used by banks to send money between accounts in different countries.
The main difference lies in where the money is going, which currency is used, and how the payment is processed.

SEPA (Single Euro Payments Area)

Purpose: Payments within the SEPA network, in euros only.

Characteristics:

• Currency: EUR only

• Processing time: usually instant or within 1–2 business days, although technical or banking delays may occasionally extend this to up to 5 business days.

• Fees: low or none, as SEPA transfers are treated as domestic payments within the SEPA area.

• Information required: IBAN (no SWIFT/BIC needed for most banks).

Use SEPA for:

• Transfers between accounts in SEPA countries

• Payments in euros

• Urgent or same-day transfers within Europe (depending on the recipient’s bank support for instant SEPA)

SWIFT (Society for Worldwide Interbank Financial Telecommunication)

Purpose: Global network used for international payments outside the SEPA zone or in currencies other than euro.

Characteristics:

• Supports multiple currencies

• Processing time: 1–5 business days, depending on intermediary banks, currency, and destination country

• Fees: higher, as several correspondent banks may be involved in the transaction chain

• Information required:

  • IBAN or account number (depending on the country)

  • SWIFT/BIC code of the recipient’s bank

  • In some cases, the bank’s name and address

  • If applicable, details of an intermediary (correspondent) bank, especially for USD payments

Because requirements and fees can vary depending on the destination and the banks involved, we recommend checking the related Help Centre articles on international transfers, SWIFT fees, and intermediary bank details for more information.

Use SWIFT for:

• Transfers to or from non-SEPA countries

• Payments in currencies other than euro

• International business or supplier payments that require detailed banking information

Summary

SEPA Countries (2025)

European Union:
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.

Non-EU SEPA members:
Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, Switzerland, United Kingdom, Vatican City.

Territories also included in SEPA:
Guernsey, Jersey, Isle of Man, Mayotte, Réunion, Martinique, Guadeloupe, French Guiana, Saint Martin, Saint Barthélemy, Canary Islands.

In short

Use SEPA for euro transfers within any of the countries listed above — these are generally processed instantly or within 1–2 business days, although delays of up to 5 business days can occur.

Use SWIFT for international or multi-currency payments outside the SEPA network.
For more information about requirements and fees for international transfers, see our articles on international transfers and SWIFT payments.