Is SEPA only for euros?

Yes — SEPA schemes move euros. A Swedish or Polish account can send and receive SEPA payments, but the payment itself is denominated in EUR and converted by the banks involved.

Is the UK still in SEPA after Brexit?

Yes. The UK remained a SEPA participant, so GB IBANs stay reachable for SEPA credit transfers and direct debits, though some banks apply extra requirements such as full debtor addresses.

Guide · 6 min read

What is SEPA? Countries, schemes and reachability explained

Q: How many countries are in SEPA?

36 countries participate: the 27 EU states, Iceland, Liechtenstein, Norway, Switzerland, the United Kingdom, Andorra, Monaco, San Marino and Vatican City.

Last updated 17 July 2026

SEPA — the Single Euro Payments Area — makes euro payments between participating countries work like domestic ones: same formats, same rails, same pricing rules. It covers the EU plus several non-EU countries, 36 in total.

Who is in SEPA?

All 27 EU member states participate, joined by the EEA countries (Iceland, Liechtenstein, Norway), Switzerland, the United Kingdom (which remained a participant after Brexit), and the microstates Andorra, Monaco, San Marino and Vatican City.

Membership is about payment schemes, not currency: Denmark, Poland, Sweden, Switzerland and others keep their own currencies while their banks process euro SEPA payments.

The four schemes

Since January 2025, EU banks must be able to receive SEPA Instant payments, and since October 2025 they must also be able to send them at no premium over standard transfers — instant is becoming the default rail.

Scheme	What it does	Typical speed
SCT (SEPA Credit Transfer)	Standard euro bank transfer	Same / next business day
SCT Inst (Instant)	24/7 instant credit transfer	Under 10 seconds
SDD Core (Direct Debit)	Consumer direct debit with refund rights	Collection on due date, 8-week no-questions refund
SDD B2B (Business-to-Business)	Corporate direct debit, no refund right	Collection on due date, mandate checked by debtor bank

What “reachability” means — and why it bites

Not every bank participates in every scheme. A bank can accept standard credit transfers but not B2B direct debits; some institutions still lag on instant. If you initiate an SDD B2B against a bank that is not reachable for it, the collection simply fails — after you have already invoiced your customer.

This is why every iban2bic response carries four booleans — sct, sctInst, sdd, b2b — resolved for the specific bank behind the IBAN. You can branch on them before choosing a payment method, not after a failed collection.