Single Euro Payment Area - SEPA
Securely and easily make cross-border and domestic payments in EUR
Service description
What is SEPA?
SEPA - Single Euro Payments Area where customers and developers can make and receive cross-border payments in euro.
SEPA system was introduced in January 2008.
Single Euro Payments Area includes EU member states, plus Switzerland, Iceland, Liechtenstein and Norway.
How does it work?
How it works?
In October 2008, Millennium Bank joined the Single Euro Payments Area.
Millennium Bank customers can receive and make payments in euro in any country of the European Union.
Making SEPA transactions is fast and easy.
We encourage you to download the guide of SEPA system in PDF.
To read the PDF document, use Adobe Acrobat Reader.
How to get it?
Making SEPA transactions is fast and easy.
How to make a SEPA transfer?
To make SEPA transfer, you need to fill in a relevant form (via the Millenet electronic banking system or at a Millennium branch).
In the menu on the left, you will find a link to the SEPA transfer form:
Transfer>Foreign transfer.
The form is similar to the forms for other payments.
The form for foreign payments in the SEPA standard.
When entering the required data in the boxes, remember about these rules:
- The Originator's Bank and the Beneficiary's Bank have to belong to SEPA, which means that they joined the SEPA System of Order transfer. You can check that at www.europeanpaymentscouncil.eu and www.sepapolska.pl
- A SEPA transfer needs to have the originator's and beneficiary's account numbers in the IBAN format (the account number has to be preceded by a country code, for example - PL for Poland, DE for Germany).
- Enter the identification code of the sender's and beneficiary's bank - BIC (SWIFT) - a code made up of 8 or 11 characters.
- You have to provide the correct beneficiary's account number in the IBAN format and the correct SWIFT (BIC) code of the beneficiary's bank.
- The transfer currency must be euro (the currency of your account may be different).
- From the cost options available, choose Standard (transfer costs are divided between the sender and the beneficiary).
- Enter the transfer amount and choose the proper currency. In order for the transfer to be detected as a SEPA transfer (fulfil the standard criteria), the payment must always be expressed in euro. Choose the payment option (if you choose the Standard option, the cost will be divided between the beneficiary and the sender).
