SEPA Credit Transfer

SEPA is an EU initiative, which spans the EU/EEA and Switzerland. Within this area, all euro payments are treated as domestic, regardless if they are performed nationally or cross-border. In the euro countries, the fees for national and cross-border transactions have also been harmonised.

The overall goal of SEPA is to reduce the cost of moving capital around. This is achieved by using uniform payment transaction instruments and standards, so that borderless payments become just as safe, simple, fast and cheap as domestic payments.

SEPA payment transfers have no amount limits. They must be denominated in euro and will be effected to the full amount within one banking day. In terms of fees, the payer and the beneficiary must each pay their own bank charges.

Euro payments only
SEPA does not cover payments in currencies other than the euro. As a customer based in Denmark, Sweden or Norway, you will therefore solely perform your cross border payments towards the Eurozone as SEPA payments.

From an EU perspective, there is no distinction between national and cross-border SEPA payments. Consequently, the user access Domestic Payments in District will allow the user in question to create and authorise cross-border SEPA payments from accounts in Danske Bank in Germany, Ireland and Finland.