When a customer makes a payment, they make a transfer. It doesn't matter how they do it: the important thing is that the payment is initiated by them and arrives in the seller's account.
When you pay someone, you make a transfer. It doesn't matter how you do it: what matters is that the payment is initiated by the customer and sent to the seller. A SEPA transfer is simply a bank transfer made between two accounts located in a country within the SEPA zone, which mainly covers the European Union, but also other countries in the European Economic Area. It can be a one-off payment or a recurring payment, as part of a standing order. The SEPA (Single Euro Payments Area) system was designed to ensure that transfers are processed as quickly within a country as between countries in the SEPA zone, facilitating international transactions. As a result, a Spanish customer can transfer money to a French company as quickly as if they had a bank account in France.
Should you offer SEPA transfers on your ecommerce site?
Yes, and for good reasons. Integrating SEPA transfers as a secure means of payment on your ecommerce site in Europe offers many advantages. The main one is that it is a well-known payment method that is widely used by customers.
In Germany alone, nearly €57 trillion was transferred via SEPA transfers in 2020, 21% of which was international. Offering shoppers a payment method they are familiar with improves their customer experience and reduces friction at the point of purchase. The result: fewer abandoned baskets... and a better conversion rate.
Other advantages include very low processing fees and no risk of chargebacks. A customer can ask their bank to dispute a payment, but you are not obliged to issue a refund. In short, offering SEPA transfers is a simple, secure and cost-effective way to grow your business online.
How much does a SEPA transfer cost?
For a business, bank transfers are a very attractive option: the fees are much lower than those for credit cards. With Mollie, for example, the fee for a transfer is £0.25 per transaction, plus 0.9%. For customers, SEPA transfers are almost always free.
How long does a SEPA transfer take?
In general, a SEPA transfer takes around 24 hours. If the customer makes the payment during business hours, the funds will be credited to your account the next morning. However, a transfer made in the evening, overnight, on a weekend or on a public holiday will take between 36 and 48 hours to arrive.
Instant transfers
In urgent cases (or otherwise), it is now possible to use an instant SEPA transfer. This type of online payment allows you to execute a transaction in just 10 seconds, although the timeframe can sometimes be extended to a full banking day. As this is an instant transfer from one account to another, with no intermediary, it works seven days a week, including weekends and public holidays. The process is completely secure, but not all banks offer this service yet. Fees vary depending on the institution, and if there are any, they are usually paid by the customer at the time of sending.
Is there a limit on SEPA transfers?
SEPA transfers are used by both individuals and businesses. You can buy a croissant for £2, treat every member of your team to a Ferrari, or even buy a unicorn... all with the same payment method. The limit for a standard SEPA transfer is set at £999,999,999.99 — just one cent below a billion. This is useful to know if you are planning an XXL transfer. However, for an instant SEPA transfer, the maximum amount is limited to £100,000.
What is the difference between a transfer and a direct debit?
A SEPA transfer is a SEPA payment initiated by the customer. They place a transfer order to transfer money from their account to the company's account. If they do not pay — either voluntarily or due to insufficient funds — the company cannot recover the funds automatically. In most cases, the company does not even know the customer's bank details. The SEPA direct debit works in the opposite way. The customer gives the company prior authorisation, known as a SEPA mandate, to debit money directly from their account. This type of payment is particularly suitable for recurring payments (subscriptions, payment schedules, etc.). In both cases, the SEPA system guarantees harmonised, fast and secure transactions across Europe.
When a customer makes a payment, they make a transfer. It doesn't matter how they do it: the important thing is that the payment is initiated by them and arrives in the seller's account.
When you pay someone, you make a transfer. It doesn't matter how you do it: what matters is that the payment is initiated by the customer and sent to the seller. A SEPA transfer is simply a bank transfer made between two accounts located in a country within the SEPA zone, which mainly covers the European Union, but also other countries in the European Economic Area. It can be a one-off payment or a recurring payment, as part of a standing order. The SEPA (Single Euro Payments Area) system was designed to ensure that transfers are processed as quickly within a country as between countries in the SEPA zone, facilitating international transactions. As a result, a Spanish customer can transfer money to a French company as quickly as if they had a bank account in France.
Should you offer SEPA transfers on your ecommerce site?
Yes, and for good reasons. Integrating SEPA transfers as a secure means of payment on your ecommerce site in Europe offers many advantages. The main one is that it is a well-known payment method that is widely used by customers.
In Germany alone, nearly €57 trillion was transferred via SEPA transfers in 2020, 21% of which was international. Offering shoppers a payment method they are familiar with improves their customer experience and reduces friction at the point of purchase. The result: fewer abandoned baskets... and a better conversion rate.
Other advantages include very low processing fees and no risk of chargebacks. A customer can ask their bank to dispute a payment, but you are not obliged to issue a refund. In short, offering SEPA transfers is a simple, secure and cost-effective way to grow your business online.
How much does a SEPA transfer cost?
For a business, bank transfers are a very attractive option: the fees are much lower than those for credit cards. With Mollie, for example, the fee for a transfer is £0.25 per transaction, plus 0.9%. For customers, SEPA transfers are almost always free.
How long does a SEPA transfer take?
In general, a SEPA transfer takes around 24 hours. If the customer makes the payment during business hours, the funds will be credited to your account the next morning. However, a transfer made in the evening, overnight, on a weekend or on a public holiday will take between 36 and 48 hours to arrive.
Instant transfers
In urgent cases (or otherwise), it is now possible to use an instant SEPA transfer. This type of online payment allows you to execute a transaction in just 10 seconds, although the timeframe can sometimes be extended to a full banking day. As this is an instant transfer from one account to another, with no intermediary, it works seven days a week, including weekends and public holidays. The process is completely secure, but not all banks offer this service yet. Fees vary depending on the institution, and if there are any, they are usually paid by the customer at the time of sending.
Is there a limit on SEPA transfers?
SEPA transfers are used by both individuals and businesses. You can buy a croissant for £2, treat every member of your team to a Ferrari, or even buy a unicorn... all with the same payment method. The limit for a standard SEPA transfer is set at £999,999,999.99 — just one cent below a billion. This is useful to know if you are planning an XXL transfer. However, for an instant SEPA transfer, the maximum amount is limited to £100,000.
What is the difference between a transfer and a direct debit?
A SEPA transfer is a SEPA payment initiated by the customer. They place a transfer order to transfer money from their account to the company's account. If they do not pay — either voluntarily or due to insufficient funds — the company cannot recover the funds automatically. In most cases, the company does not even know the customer's bank details. The SEPA direct debit works in the opposite way. The customer gives the company prior authorisation, known as a SEPA mandate, to debit money directly from their account. This type of payment is particularly suitable for recurring payments (subscriptions, payment schedules, etc.). In both cases, the SEPA system guarantees harmonised, fast and secure transactions across Europe.
When a customer makes a payment, they make a transfer. It doesn't matter how they do it: the important thing is that the payment is initiated by them and arrives in the seller's account.
When you pay someone, you make a transfer. It doesn't matter how you do it: what matters is that the payment is initiated by the customer and sent to the seller. A SEPA transfer is simply a bank transfer made between two accounts located in a country within the SEPA zone, which mainly covers the European Union, but also other countries in the European Economic Area. It can be a one-off payment or a recurring payment, as part of a standing order. The SEPA (Single Euro Payments Area) system was designed to ensure that transfers are processed as quickly within a country as between countries in the SEPA zone, facilitating international transactions. As a result, a Spanish customer can transfer money to a French company as quickly as if they had a bank account in France.
Should you offer SEPA transfers on your ecommerce site?
Yes, and for good reasons. Integrating SEPA transfers as a secure means of payment on your ecommerce site in Europe offers many advantages. The main one is that it is a well-known payment method that is widely used by customers.
In Germany alone, nearly €57 trillion was transferred via SEPA transfers in 2020, 21% of which was international. Offering shoppers a payment method they are familiar with improves their customer experience and reduces friction at the point of purchase. The result: fewer abandoned baskets... and a better conversion rate.
Other advantages include very low processing fees and no risk of chargebacks. A customer can ask their bank to dispute a payment, but you are not obliged to issue a refund. In short, offering SEPA transfers is a simple, secure and cost-effective way to grow your business online.
How much does a SEPA transfer cost?
For a business, bank transfers are a very attractive option: the fees are much lower than those for credit cards. With Mollie, for example, the fee for a transfer is £0.25 per transaction, plus 0.9%. For customers, SEPA transfers are almost always free.
How long does a SEPA transfer take?
In general, a SEPA transfer takes around 24 hours. If the customer makes the payment during business hours, the funds will be credited to your account the next morning. However, a transfer made in the evening, overnight, on a weekend or on a public holiday will take between 36 and 48 hours to arrive.
Instant transfers
In urgent cases (or otherwise), it is now possible to use an instant SEPA transfer. This type of online payment allows you to execute a transaction in just 10 seconds, although the timeframe can sometimes be extended to a full banking day. As this is an instant transfer from one account to another, with no intermediary, it works seven days a week, including weekends and public holidays. The process is completely secure, but not all banks offer this service yet. Fees vary depending on the institution, and if there are any, they are usually paid by the customer at the time of sending.
Is there a limit on SEPA transfers?
SEPA transfers are used by both individuals and businesses. You can buy a croissant for £2, treat every member of your team to a Ferrari, or even buy a unicorn... all with the same payment method. The limit for a standard SEPA transfer is set at £999,999,999.99 — just one cent below a billion. This is useful to know if you are planning an XXL transfer. However, for an instant SEPA transfer, the maximum amount is limited to £100,000.
What is the difference between a transfer and a direct debit?
A SEPA transfer is a SEPA payment initiated by the customer. They place a transfer order to transfer money from their account to the company's account. If they do not pay — either voluntarily or due to insufficient funds — the company cannot recover the funds automatically. In most cases, the company does not even know the customer's bank details. The SEPA direct debit works in the opposite way. The customer gives the company prior authorisation, known as a SEPA mandate, to debit money directly from their account. This type of payment is particularly suitable for recurring payments (subscriptions, payment schedules, etc.). In both cases, the SEPA system guarantees harmonised, fast and secure transactions across Europe.
When a customer makes a payment, they make a transfer. It doesn't matter how they do it: the important thing is that the payment is initiated by them and arrives in the seller's account.
When you pay someone, you make a transfer. It doesn't matter how you do it: what matters is that the payment is initiated by the customer and sent to the seller. A SEPA transfer is simply a bank transfer made between two accounts located in a country within the SEPA zone, which mainly covers the European Union, but also other countries in the European Economic Area. It can be a one-off payment or a recurring payment, as part of a standing order. The SEPA (Single Euro Payments Area) system was designed to ensure that transfers are processed as quickly within a country as between countries in the SEPA zone, facilitating international transactions. As a result, a Spanish customer can transfer money to a French company as quickly as if they had a bank account in France.
Should you offer SEPA transfers on your ecommerce site?
Yes, and for good reasons. Integrating SEPA transfers as a secure means of payment on your ecommerce site in Europe offers many advantages. The main one is that it is a well-known payment method that is widely used by customers.
In Germany alone, nearly €57 trillion was transferred via SEPA transfers in 2020, 21% of which was international. Offering shoppers a payment method they are familiar with improves their customer experience and reduces friction at the point of purchase. The result: fewer abandoned baskets... and a better conversion rate.
Other advantages include very low processing fees and no risk of chargebacks. A customer can ask their bank to dispute a payment, but you are not obliged to issue a refund. In short, offering SEPA transfers is a simple, secure and cost-effective way to grow your business online.
How much does a SEPA transfer cost?
For a business, bank transfers are a very attractive option: the fees are much lower than those for credit cards. With Mollie, for example, the fee for a transfer is £0.25 per transaction, plus 0.9%. For customers, SEPA transfers are almost always free.
How long does a SEPA transfer take?
In general, a SEPA transfer takes around 24 hours. If the customer makes the payment during business hours, the funds will be credited to your account the next morning. However, a transfer made in the evening, overnight, on a weekend or on a public holiday will take between 36 and 48 hours to arrive.
Instant transfers
In urgent cases (or otherwise), it is now possible to use an instant SEPA transfer. This type of online payment allows you to execute a transaction in just 10 seconds, although the timeframe can sometimes be extended to a full banking day. As this is an instant transfer from one account to another, with no intermediary, it works seven days a week, including weekends and public holidays. The process is completely secure, but not all banks offer this service yet. Fees vary depending on the institution, and if there are any, they are usually paid by the customer at the time of sending.
Is there a limit on SEPA transfers?
SEPA transfers are used by both individuals and businesses. You can buy a croissant for £2, treat every member of your team to a Ferrari, or even buy a unicorn... all with the same payment method. The limit for a standard SEPA transfer is set at £999,999,999.99 — just one cent below a billion. This is useful to know if you are planning an XXL transfer. However, for an instant SEPA transfer, the maximum amount is limited to £100,000.
What is the difference between a transfer and a direct debit?
A SEPA transfer is a SEPA payment initiated by the customer. They place a transfer order to transfer money from their account to the company's account. If they do not pay — either voluntarily or due to insufficient funds — the company cannot recover the funds automatically. In most cases, the company does not even know the customer's bank details. The SEPA direct debit works in the opposite way. The customer gives the company prior authorisation, known as a SEPA mandate, to debit money directly from their account. This type of payment is particularly suitable for recurring payments (subscriptions, payment schedules, etc.). In both cases, the SEPA system guarantees harmonised, fast and secure transactions across Europe.