SEPA Payments

As a member of Ballyconnell Credit Union, any money you transfer or receive electronically must be a SEPA payment.

If you transfer money into your account it must be sent as a SEPA payment. Likewise, if anyone is transferring money to your account, they must let their financial institution know that it must be a SEPA payment.

Any money transferred in any other way, for example by SWIFT or international transfer, will be rejected by our processing bank and the payer may incur a rejection charge which they may be liable for.

SEPA stands for Single Euro Payments Area. A SEPA payment is sent through the SEPA scheme.

The SEPA scheme was created to simplify euro transfers between EU member states such as France, Germany and Spain and some non-EU countries such as the UK, Switzerland and Norway.

The SEPA scheme means that SEPA payments will follow the same process and take the same time as payments within Ireland.

For further information on SEPA, please see here.