Security and privacy
SEPA
Abbreviation for Single Euro Payments Area
In short and in plain language
SEPA is a shared area in Europe for payments.
It covers bank transfers and direct debits in the shared currency.
These payments follow shared rules there. The form of the account number is the same, too.
Definition
SEPA is the single European area for credit transfers and direct debits in euros. Within this area, payments follow common rules, with the IBAN as the account number.