What is SEPA?

SEPA -Single Euro Payments Area where Customers and developers can make and receive cross-border payments in Euro.
Sepa guaranties possibility of making and receiving payments from domestic country to another country in SEPA area using common standards-base on the same rules, law and duties-don't matter on the making operation place. Standards of foreign transaction system for bank clients means reduction of time for international payments realization.

Common European payment SEPA system is being running from 28th of January 2008. This is effect of cooperation with Krajowa Izba Rozliczeniowa,EBA CLEARING (European Bank Community-Operator of European system of foreign transaction in SEPA)and Narodowy Bank Polski.

Geographical Range of SEPA:

Single Euro Payments System include 31 countries-all European Union Countries (27 joined Countries) and Island, Norway, Lichtenstein, Switzerland, United Kingdom, Andorra, Liechtenstein, Monaco, San Marino and the Vatican City State / Holy See.

Main of SEPA for international transaction:

  • transfers done with Common Euro Currency
  • availability of receiving or making transfers to European Union Countries and Norway ,Island, Lichtenstein, Switzerland
  • no limits for transaction amount
  • transfer need to have account number in IBAN standard and SWIFT(BIC) code of beneficiaries bank(Identification of Account through IBAN number and BIC)
  • guarantee, impassable period of realization transaction-transfer transaction from sender to beneficiaries will take no longer than one business day for electronic payment orders; might be extended by one business days for payment orders delivered in paper form
  • single instrument payments array-transfer order, payment order and cards payments.
  • common standards, technical norms, business practice and legal bases
  • Sender and Beneficiaries are responsible for their own charge,(cost option standard-sender is covering cost of sender bank and beneficiaries is covering costs of third banks)
  • availability of adding additional code which identificate - sender and beneficiaries of transfer
  • expanded information about transfer (payment details)sending by sender of beneficiaries

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).

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.


  • What is SEPA?

    SEPA is an abbreviation from Single Euro Payments Area is an area where individuals and entrepreneurs can make domestic and cross-border transfers in Euro currency as well as receiving them.

    SEPA guarantees possibility of making and receiving cross-border payments to another country which is also in SEPA zone using united standards and based on the same rules, laws and duties irrespective of the place where order was issued. Standardisation of cross-border payment system determines shorter transfer time for foreign transfers.

  • What are advantages of introducing Single Euro Payments Area (SEPA)?

    SEPA brings a lot of advantages for users thanks to extended convenience, clarity and speed of cross-border payments. Thanks to SEPA bank Milllennium's customers can order cross-border payments using unified standards of European Union.

    The goal of SEPA is clarity, increased security and efficiency of all cross-border payment as well as unifying standards of domestic and cross-border payments.

  • What is the geographical range where SEPA programme is valid?

    Single Euro Payments Area covers 31 countries - all countries which are part of European Union (27 countries) and 4 additional: Island, Norway, Lichtenstein and Switzerland.

  • How to send SEPA transfer in Millenet?

    To send SEPA transfer in Millenet customer is required to fill in foreign transfer form (Transfers>Foreign transfer from transactional system menu fo Individuals or Payments>Foreign for Companies). First stage of this form looks exactly the same for every type of foreign transfer. Basing on filled data system automatically recognises if all requirements were fulfilled to send SEPA transfer.

  • Does SEPA require to make payment in EUR currency?

    In SEPA payment zone all transactions are required to be calculated using €uro currency. All stages of transfers using SEPA are calculated in Euro but it does require from sender and beneficiary to have €uro account.

    If beneficiary or originator account is not an Euro account SEPA transactions (for sender and beneficiary) will be calculated using their's bank's local exchange rates.

  • What organisations are involved in SEPA programme?

    SEPA programme was initiated by 3 major European Organisations. Primary vision and initiative was issued by European Cometee. After that Central European Bank published requirements for SEPA programme and implementation schedule to ensure efficient and organised foreign transaction zone in Euro area. European Payment's Board creation of which was initiative of European bank's group) is responsible for creation of new payment tools for SEPA programme.

  • Can I check if IBAN number which I am transferring money to is correct?

    You can check if IBAN number you posses has proper structure on Krajowa Izba Rozliczeniowa page: https://www.banki.kir.pl/uzyteczne-narzedzia-i-statystyki/sprawdz-ibannrb/

  • What is BIC code?

    BIC is an abbreviation from Bank Identifier Code.

    BIC code should consist of 8 or 11 chars (in some cases when code is shorter it should be filled in to 11 chars using "X") and is used to properly identify specific bank in foreign transfer system. Every bank who is joining SEPA transactions and uses EuroElixir system to make foreign transactions is obliged to have its own BIC code.

    BIC code (called sometimes also SWIFT from name of the system which uses it) and IBAN number are required to perform foreign transaction in SEPA system.

  • What is IBAN number?

    IBAN is an abbreviation from International Bank Account Number.

    IBAN was created by European Bank's Standards Committee to support payment's maintenance in European Union area.Polish IBAN consists of 28 chars and digits - it is compilation of full account number (in Polish NRB) and country code (for Poland it is PL).

    Example of Polish IBAN according to standards:
    PL 12 1234 5678 1234 5678 9012 3456
    Full Polish IBAN consist in fact of 4 parts: country code(2 chars), control digits (2 digits), bank's account number(8 digits), customer's account specific number (16 digits).

    Providing proper IBAN number and BIC code is necessary if you would like to send foreign transfer as SEPA transfer.