Bank transfers FAQ

Modified on Fri, 23 May, 2025 at 5:52 PM

1. What types of SEPA payments do you support?

For withdrawals:

SEPA Credit Transfer (SCT)
SEPA Instant (SCT Inst)

For deposits:

SEPA Credit Transfer (SCT)
SEPA Instant (SCT Inst)
SEPA Direct Debit (SDD)

2. How long does it take for a SEPA payment to be processed and settled?

SEPA Credit payments are typically settled within 2-3 business days. SEPA Instant payments, where available, are processed within 5-10 minutes. SEPA Direct Debits take 1–2 business days.

The payment scheme is always determined by the sender's bank. If SEPA Instant is supported, it’s processed almost immediately. Otherwise, it’s sent as a regular SEPA Credit Transfer and takes 2–3 business days.

3. What are your fees for SEPA transactions?

We don't charge any fees for SEPA payments.

4. What account types or documentation do we need to start using your SEPA services?

You will need to create a corporate account with Wirex Business. Required documentation includes proof of incorporation, identification of beneficial owners, and bank account details (IBAN and BIC). Onboarding typically takes 1–2 business days.

Please refer to our Business Verification category to learn more about the onboarding process.

5. What happens when SEPA is credited to your account?

Incoming SEPA deposits are automatically converted to stablecoins upon arrival for seamless treasury management.

6. Can I use SEPA payments to pay other businesses or employees?

Yes, SEPA payments can be used for both business-to-business (B2B) transactions and employee payouts, as long as the recipient has a bank account within the SEPA zone. It's a fast, cost-effective way to send salaries, vendor payments, or other business-related transfers in euros.