Starting the first of July 2024, Sends account owners can send euro transfers to the SEPA zone with low commissions and fast delivery. The service is available in the application and web version.
SEPA has become an essential service in the financial landscape. People in Europe are accustomed to seamless money transfers and expect reasonable commission rates. Sends is happy to offer this service now, completing their customer proposition.
Company officials emphasise that ensuring user comfort while complying with all regulations is their top priority. Their software is designed to meet specific EU and UK legislative requirements, providing clients with a seamless and secure onboarding experience. All departments collaborate to enhance Sends by integrating a new interface, streamlining the onboarding process, and introducing new services like SEPA transfers.
SEPA (Single Euro Payments Area) transfers simplify euro transactions across participating European countries, allowing for seamless, low-cost, and secure transfers comparable to domestic ones. Established by the EU, SEPA includes 27 EU countries and several non-EU countries such as Norway, Switzerland, and Iceland. The system covers various payment types, including credit transfers, direct debits, and card payments.
The primary goal of SEPA is to create a more integrated and efficient European financial market by eliminating differences between national and cross-border euro payments. This harmonisation enhances economic integration and competition among banks, leading to lower fees and better services for consumers. SEPA's unified framework supports businesses in expanding operations across borders with minimal financial friction and enables consumers to conduct transactions effortlessly throughout the SEPA zone.
Sends is a British financial service provider offering personal and business accounts, Internet acquiring, and card payouts. The company constantly improves its compliance and security protocols. Sends recently introduced an updated system that streamlines client onboarding, ensuring full compliance with UK and EU regulations. As an authorised EMI by the FCA since 2017, Sends is a full-fledged replacement for the traditional bank account.
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