Comparing difference in sending payments between SEPA vs SWIFT or International wire.
A simple comparison between SEPA and SWIFT.
| Detail requirement | SEPA | SWIFT or Wire Transfers |
|---|---|---|
| Name of Beneficiary or receiver | Yes (can be optional) | YES |
| IBAN | Yes | YES |
| BIC | Optional | YES |
| Payment reference | Optional | YES |
| SWIFT | NO | YES |
| Beneficiary address | NO | YES |
| Beneficiary Bank details | NO | YES |
| Account number / branch code | NO | YES |
| Specific Currency | NO (always EURO) | YES |
Additional resouces
About the author
Disclaimer
This publication is provided for general information purposes and does not constitute legal, tax, or other professional advice from B2B Trade Payment Services AB or its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.