ONLINE PAYMENT METHODS: SEPA Credit transfer / Pre transfer
What is SEPA Transfer?
SEPA stands for Single Euro Payments Area, which translates to a single European payment market. The goal of SEPA is to enable everyone in Europe to make payments from one European bank account to any other European bank account. Paying through SEPA transfer is a trusted and secure method for consumers to settle online purchases. The amount can be easily transferred via online banking, and SEPA transfers are supported in 34 countries. Countries like the Netherlands, Belgium, France, Germany, and Poland all have a high percentage of online shoppers who use SEPA transfers to pay for their purchases.
The European Union has developed SEPA standards to streamline euro transfers. This includes the introduction of consistent and uniform bank account numbers, IBAN. Standardized bank account numbers ensure that international transfers are processed faster and without additional costs. This allows businesses and shops to reach customers across Europe. For consumers, the benefits include broad international access to stores, quick transactions, and low transaction costs.
How Does a SEPA Transfer Work?
When customers choose to pay via SEPA transfer, they receive the payment details directly on their screen or via email. They then transfer the amount from their online banking environment at their convenience. Instead of manually entering payment details, we offer the option to generate a QR code for payment through an app. This reduces the risk of errors since the payment details are readily available in the app after scanning.
If a customer does not use a QR code and accidentally makes an error in entering payment details, we automatically refund the transaction to the customer.
The processing time for a transfer is usually a few business days.
Mollie has dedicated bank accounts for Belgium, France, Germany, and the Netherlands, allowing consumers from these countries to transfer payments to a trusted, localized IBAN.
In Which Countries Is SEPA Transfer Available?
SEPA enables transfers from any European bank account to any other European bank account and is supported in 34 countries.
Paying with SEPA Transfer?
Simply select the option 'Pre transfer' in the payment menu.