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What is SEPA Credit Transfer (SCT)?

SEPA Credit Transfer

The SEPA payment (SCT, SEPA Credit Transfer) is a payment transaction in euro between accounts located within the SEPA zone.

It has the following features:

  • The destination account and bank are identified using the combined BIC/IBAN
  • 140 characters of descriptive text
  • Turnaround time of 1 working day

Costs are automatically split between:

  • The sender (for the costs from his bank)
  • The beneficiary (for the costs from his bank)