SEPA Bank Transfer
Start accepting today
Only pay per transaction
Overview
SEPA bank transfers are the go-to method for high-value and B2B payments across Europe. With Mollie, every profile gets a virtual IBAN in its own name, registered for Verification of Payee, so customers know exactly who they're paying. Transfers are matched to payments automatically. When a reference or amount is wrong, or one transfer covers several invoices, the funds are held for two business days while you match them by API or in the Dashboard.
Pricing
SEPA Bank Transfer
£0.30
.
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Safeguard your business with the highest security standards.
Win more sales
Sell more with a personalised, branded checkout built for conversion.
Your name, verified, on every IBAN
Payers see your trade name with a green Verification of Payee check before they press send.
Keep every transfer, even messy ones
Transfers with wrong references or amounts land safely and wait two business days for a match.
Reconcile by API or in the Dashboard
A webhook flags every unmatched transfer. Match it to a payment or return it in a few clicks.
A local IBAN in every key market
COMING SOON
With Advanced, show German payers a DE IBAN and French payers an FR one, all in your name.
What is a SEPA bank transfer?
SEPA stands for Single Euro Payments Area. SEPA was introduced by the European Council to streamline the European payments structure. With SEPA, bank transfers can be done from any European checking account to any other European checking account. Paying by bank transfer is a very familiar and safe way for customers to pay online. They use their own trusted online banking environment to transfer money. SEPA bank transfers are supported in 34 countries. The Netherlands, Belgium, France, Germany and Poland all know high percentages of shoppers using SEPA bank transfers to pay for their online purchases.
The European Union developed the SEPA standards to allow for streamlined bank transfers denominated in euro, through the adoption of consistent and uniform bank account numbers called IBAN. Advantages of Europe-wide standardized account numbers include quick processing time of transfers and equal costs for bank transfers across borders, allowing merchants to receive payments from customers all over Europe. Customers receive the benefit of wide availability, quick payment processing and low transaction costs.
How does a SEPA bank transfer work?
When customers choose to pay through SEPA bank transfer, they receive the payment details directly on their screen or through an e-mail. Customers then log in to their own online banking environment and transfer the payment from there, when it’s convenient for them. Instead of filling out the details by hand, we offer QR-codes that fill out all the required bank details to make paying even easier for your customers and eliminate the chance of errors.
Should a customer fill out the wrong bank details. We offer automatic refunds.
Processing a SEPA bank transfer generally takes a couple of workdays, but we have instant status updates for the payment status, so you can ship your order immediately when it’s confirmed.
Benefits of SEPA bank transfers through Mollie
Using Mollie to receive payments through SEPA bank transfers allows you to offer all major payment methods through a single integration. Mollie has dedicated bank accounts for Belgium, France, Germany, and the Netherlands, which means consumers from these countries transfer funds to a familiar, localised IBAN. We offer instant updates when a payment gets through, so you don’t need to check your bank account. The QR codes that we generate, minimize flaws and allow for quick payments. Our clever yet simple API makes the integration incredibly robust and built for volume. Our API and Dashboard allow for direct refunds and can export all your data to several different formats for your bookkeeper. And our pricing is very competitive, with no hidden fees at all.
Implementing SEPA bank transfers through Mollie is easy, there’s no lengthy signup process and we have free, open-source packages and plugins available for most coding languages and e-commerce platforms, which allows for easy integration into any project. Our prices are transparent; you only pay a low fee for successful transactions. And your personal dashboard gives you crucial insights into all your transactions and statistics. Mollie is the quickest and easiest way to implement SEPA bank transfers.
How long does a SEPA bank transfer take?
Standard SEPA transfers typically take 1–2 business days to arrive. However, if the transfer is initiated after the bank’s cut-off time or during weekends, it may take up to 3 business days. For urgent transactions, SEPA Instant Credit Transfers are processed within 10 seconds, 24/7, provided both banks support this feature. This makes SEPA a reliable and efficient option for euro-denominated payments across Europe.
In which countries is SEPA bank transfer accepted?
SEPA covers 36 countries, including all 27 EU member states and additional countries like the United Kingdom, Iceland, Norway, Liechtenstein, Switzerland, Monaco, San Marino, Andorra, and Vatican City. This extensive network ensures that euro-denominated transfers can be made seamlessly across these regions, simplifying cross-border payments.
Which banks accept SEPA payments?
Most banks within the SEPA region accept SEPA payments, especially those operating in euros. This includes major banks and many smaller institutions. However, it's advisable to check with your specific bank to confirm their participation in SEPA schemes and any associated fees or requirements.
What is a virtual IBAN?
A unique IBAN in your business name that customers pay into. It is not a bank account: funds land in your Mollie balance and are paid out to your business bank account on your normal settlement schedule.
What happens if a customer uses the wrong reference or amount?
The funds are held for two business days. You can match them to the right payment, or return them to the sender. If you take no action, they are returned automatically.
Can one transfer pay several invoices?
Yes. Via the API you can match one transfer to multiple open payments, as long as the total equals the amount received.
Do I need to integrate anything?
No. Your virtual IBAN is assigned when you activate Bank Transfer, and you can handle unmatched transfers in the Dashboard. The API is there if you want to automate it.
What integrations do you support for this method?
£69.99
Sneaker laces
Sneaker laces
23/09/2022 17:29
€69.99
Paid
Consumer name
T. Otter
Are you already a Mollie customer?
Simply activate the new payment method in your Dashboard.
