What Is SEPA? (The Cheapest Way to Get Paid in Euros)

You send an invoice to your client in Germany. They pay it the next day.

A week later, you check your bank account. The payment arrived, but it's €20 less than the invoice amount.

You message the client: "The payment is short by €20."

They reply: "Sorry, that was the international wire transfer fee my bank charged. I thought you'd cover it on your end."

Here's the thing: they didn't need to pay that fee.

If your client had used SEPA instead of a "wire transfer," that same payment would have cost them nothing (or maybe €0.50) and arrived just as fast, if not faster.

This guide explains what SEPA is, why it's almost always better than wire transfers for euro payments, and how to make sure your European clients use it when paying your Maash EUR account.

What Is SEPA?

SEPA stands for Single Euro Payments Area.

It's a European payments initiative that makes euro bank transfers between participating countries work like domestic transfers: same formats, same rules, and usually low or no fees.

Coverage

SEPA includes:

• All Eurozone countries (Germany, France, Spain, Italy, Netherlands, etc.)
• Several non-euro EU states (like Poland, Sweden, Denmark)
• Additional countries in the European Economic Area (Norway, Iceland, Liechtenstein)
• Some microstates (Monaco, San Marino, Vatican City)
• UK (even post-Brexit, UK banks still participate in SEPA)

How It Works

For the sender, a SEPA Credit Transfer feels like sending a normal local EUR transfer inside their own country.

If your client's bank account is in a SEPA country and your Maash EUR account has an IBAN (which it does), sending a SEPA transfer to you should be as easy and cheap as paying a local supplier.

No special international payment forms. No extra fees. Just a standard EUR bank transfer.

Why SEPA Was Created

SEPA isn't new or experimental. It's been the standard for European payments since the late 2000s.

The Problem Before SEPA

Before SEPA existed, cross-border euro transfers within Europe were:

• Slower than domestic transfers
• More expensive (banks charged "foreign" fees even for EUR-to-EUR within the EU)
• Used different formats in each country
• Required multiple intermediary banks

A German company paying a French supplier in euros faced the same friction as paying someone in the US or Japan.

The Solution

The EU and European banking sector launched SEPA in the mid-2000s to:

• Harmonize credit transfers and direct debits in EUR
• Reduce friction for cross-border trade and labor mobility
• Make euro payments work the same way across all participating countries

SEPA Credit Transfers (SCT) are now the default rail for most EUR domestic and cross-border payments in the region.

More recently, SEPA Instant has been introduced for real-time EUR transfers between participating banks, though coverage is still evolving.

How a SEPA Transfer Actually Works

Let's walk through what happens when a European client pays you via SEPA.

Step-by-Step Process

1. Sender initiates payment
Your client in a SEPA country (Germany, France, Greece, Netherlands, etc.) goes to their online banking and initiates a bank transfer in EUR.

2. They select SEPA
They choose "SEPA" or "EU standard transfer" (might just be labeled "bank transfer" since SEPA is the default for EUR within Europe). They enter your IBAN and sometimes your BIC code.

3. Fees are minimal or zero
For most retail and business accounts, SEPA transfers are free or cost a small fixed charge (€0.50-€2 maximum for most banks).

4. SEPA clearing processes the payment
The payment is processed according to SEPA scheme rules and routed to the receiving bank. The formats and messaging are standardized (IBAN-based, ISO 20022 standard).

5. Receiving bank credits your account
Your Maash EUR account (powered by Banking Circle, an EU-licensed bank) receives the SEPA credit and posts funds into your Maash EUR balance.

6. Your Maash balance updates
You see the EUR in your Maash app, usually same-day or next business day.

Why It's Simple

No need for multiple correspondent banks or SWIFT chains. That's why fees and complexity are lower than "international wire transfers."

How Long Does SEPA Take?

Let's set clear expectations around timing.

Standard SEPA Credit Transfer (SCT)

Most SEPA payments are same business day or next business day depending on when they're initiated:

• Payment sent before the bank's cut-off (usually mid-afternoon Europe time): Same-day arrival
• Payment sent after cut-off or late in the day: Next business day arrival
• Payment sent Friday evening: Monday arrival (or next business day if there's a holiday)

For most EU domestic payments initiated early in the day, recipients see funds either same-day or the next morning.

SEPA Instant (SCT Inst)

Where both banks support it, transfers can be near-instant, 24/7, up to €100,000 per transaction.

However, coverage is not yet universal. Many banks still default to standard SEPA, which is already quite fast.

For Maash Users

When your client in Europe sends a SEPA transfer to your Maash EUR account:

• If they pay before their bank's cut-off on a business day, you usually see the EUR in your Maash account later that day or the next business day
• Transfers sent late on Friday may appear on Monday or the next SEPA business day
• SEPA operates on European banking days, so European public holidays affect timing

SEPA vs "International Wire Transfers" (SWIFT)

This is the key distinction that saves you and your clients money.

SEPA Credit Transfer

Scope: EUR payments within the SEPA area
Network: SEPA scheme (not SWIFT)
Speed: Typically same-day/next-day; sometimes instant if SEPA Instant supported
Fees: Often free or a small fixed fee (€0-€2 for most retail users)
Currency: EUR to EUR, no conversion needed
Complexity: Simple IBAN-to-IBAN transfer

SWIFT / International Wire

Scope: Global, multi-currency
Network: SWIFT messages through multiple correspondent banks
Speed: 1-3+ business days
Fees: €10-€30+ common (send fee + sometimes receive fee)
Currency: May involve conversions and extra exchange rate spreads
Complexity: Multiple intermediary banks, more points of failure

Real Example

A client getting paid from Greece once sent a "wire transfer" that cost them around €20 in fees. Had they selected SEPA instead of "international wire," the same EUR payment to a Maash EUR account would likely have been free or cost €0.50, and arrived just as fast or faster.

The rule: If both sender and recipient have EUR accounts with IBANs in SEPA countries, SEPA is almost always the better rail than a generic "international wire."

Why SEPA Is the Cheapest and Fastest Way to Get Paid in EUR with Maash

Let's connect this directly to your Maash EUR Virtual Bank Account.

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Your Maash EUR Account

Your Maash EUR account comes with an IBAN issued by Banking Circle, an EU-licensed bank. This IBAN is fully reachable via SEPA.

For Clients and Platforms in SEPA Countries

A SEPA credit transfer to your Maash IBAN is:

• Domestic-style (no SWIFT needed)
• Low-fee or free for them
• Usually same-day or next-day for you

How to Explain to Clients

When sending invoices or setting up payment details, you can say:

"Please pay this invoice by SEPA transfer in EUR to this IBAN. It should cost you the same as a local transfer and usually arrives within one business day."

Can You Still Receive Wire Transfers?

Yes. Maash can still receive SWIFT EUR wires where necessary (for example, from clients outside the SEPA area). But you'll have to pay for wire fees – which eats into your revenue.

That's why we recommend SEPA wherever possible because it's faster, cheaper, and less error-prone than generic "international wire transfers" within Europe.

SEPA Timing Expectations for Maash Users

Since many Maash users are in Sri Lanka or other Asian markets, here's how to think about European timing.

European Banking Days and Time Zones

SEPA operates on European banking days and time zones (CET/CEST).

Example timeline:

• Monday 10 AM Europe time: Client sends SEPA payment
• Monday afternoon Europe time: Payment processes
• Monday evening / Tuesday morning: You see EUR in Maash (depending on processing cycles)

Friday timing:

• Friday 5 PM Europe time: Client sends payment after cut-off
• Saturday/Sunday: No SEPA processing
• Monday: Payment processes
• Monday evening / Tuesday: You see EUR in Maash

Rule of Thumb

Plan for same-day to next-business-day arrival for SEPA.

Only check in with your client if it has been more than 2 European business days since they sent the payment and you still don't see it in your Maash account.

European Public Holidays to Know

SEPA doesn't process on weekends or major European holidays:

• New Year's Day
• Good Friday and Easter Monday
• Christmas (December 25-26)
• Various national holidays (check if your specific client's country has a bank holiday)

How to Ask Clients to Use SEPA

Make it easy for your clients by giving them clear instructions.

Template for invoices

If you are in Europe, please send payment via SEPA Credit Transfer in EUR to:

Account name: [Your name or business name]
IBAN: [Your Maash EUR IBAN which you can find on your Maash account]
BIC: [Your BIC code if needed]
Bank: Banking Circle

This should cost you the same as a domestic transfer and usually reaches me within one business day.

Why Be Explicit

Explicitly mention "SEPA transfer in EUR" to avoid the client's bank defaulting to an expensive "international wire" option.

Some online banking interfaces show multiple transfer types:

• "SEPA / EU transfer" (choose this)
• "International wire transfer" (don't choose this if sending to a SEPA IBAN)

By specifying SEPA in your invoice, you guide clients to the right option.

What to Do If a SEPA Payment Hasn't Arrived

Here's how to troubleshoot.

Check Timing First

When did the client send it?

• Same day? Expect it later today or tomorrow
• Yesterday? Check if it was sent after bank cut-off or before a weekend/holiday
• 2+ European business days ago? Time to investigate

Common Reasons for Delays

Sent after cut-off time:
Most banks have afternoon cut-offs. Payments sent after that time process the next business day.

Weekend or holiday:
SEPA doesn't process Saturday/Sunday or on European bank holidays.

Incorrect IBAN:
Double-check the IBAN the client used matches your Maash EUR account exactly. One wrong digit can cause a payment to bounce back (usually within 1-2 days).

If It's Genuinely Missing

Ask the client for:

• SEPA payment confirmation or transaction reference
• Screenshot showing the payment was sent
• Exact amount and date sent

Contact Maash support with:

• The payment reference
• Expected amount in EUR
• Date the client says they sent it
• Client's name or company

Our team can check with Banking Circle to locate the payment.

Reassurance

SEPA payments are highly reliable. Delays are almost always timing-related (weekends, cut-offs, holidays) rather than lost payments.

SEPA as Your Default Rail for Euros

SEPA is the standard euro payment rail across much of Europe: cheap, widely supported, and fast.

Key takeaways

• For Maash users with EUR accounts, SEPA is usually the cheapest and fastest way to get paid by European clients and platforms
• Whenever you or your clients see options like "SEPA" vs "international wire," choosing SEPA is almost always the better choice for EUR-to-EUR payments
• By specifying SEPA on your invoices, you save your clients money and get paid faster

Update Your Invoices and Payout Settings

If you haven't already:

1. Add your Maash EUR IBAN to all invoices for European clients
2. Specify "SEPA transfer" as the payment method
3. Update platform payout settings (Upwork, Deel, etc.) to use your Maash EUR IBAN if they offer EUR payouts

The Bottom Line

SEPA transforms paying you from an expensive international transaction into a simple domestic EUR transfer for your European clients.

No €20 wire fees. No multi-day delays. Just straightforward, low-cost euro payments into your Maash account, usually within one business day.

If you haven't yet, update your European invoices and platform payout settings to use your Maash EUR IBAN and specify SEPA as the payment method. It will save your clients money and get your euros into Maash faster.

Don't have a Maash account yet? Try it out for yourself and save money for you and your clients!

Disclaimer: This article is for general informational and educational purposes only and does not constitute financial, investment, legal, tax, or other professional advice. Maash is a financial technology platform and is not a bank or investment adviser. Product availability and features may vary by country or region and are subject to eligibility checks, partner terms, and applicable laws and regulations.