The SEPA Project

The SEPA (Single Euro Payments Area) is a European project of unification of means of payment. SEPA is the Single Euro Payments Area, including EU member states, plus Norway to Iceland, Liechtenstein, Switzerland and Monaco. The EPC (European Payments Council or European Payments Council), which brings together the European banking communities as well as major […]

What is IBAN?

The IBAN (International Bank Account Number) is an internationally agreed means of identifying bank accounts across national borders.It was originally adopted by the European Committee for Banking Standards (ECBS), and later as an international standard under ISO 13616, which indicates SWIFT as the formal registrar.Initially developed to facilitate payments within the European Union, it has […]

What is a BIC code

The BIC Code (Bank Identifier Code) is the unique international codification for financial institutions.SWIFT handles the registration of the BIC codes under the standard ISO 9362.These codes are used when transferring money between banks, particularly for international wire transfers, in and out of the SEPA area.The BIC code can be found on the bank account […]