Operations, maintenance and contracts
SEPA
Abbreviation for Single Euro Payments Area
In short and in plain language
SEPA is a shared area for payments in Europe.
The same rules apply to payments there.
For shops this matters when they take money from a bank account. In some cases, customers can get the money back.
Definition
SEPA is the Single Euro Payments Area, in which transfers and direct debits are processed under common rules. For shops, SEPA matters mainly for direct debits, which customers can have reversed under certain conditions. Which deadlines apply is set out in law and the payment terms.