Neeranam Posted April 28, 2023 Share Posted April 28, 2023 Does anyone know what this means? Would my Royal Bank of Scotland be OK for this purpose, to get money sent to it. My Thai banks are no use. Link to comment Share on other sites More sharing options...
gamb00ler Posted April 28, 2023 Share Posted April 28, 2023 Google says: What is SEPA Payment Method? SEPA payments are cashless payments in euro currency that are processed via the Single Euro Payments Area network to facilitate cross-border bank transfers in 36 Eurozone and non-euro area countries. The SEPA payment method makes cross-border transfers fast and cost-effective. 1 Link to comment Share on other sites More sharing options...
fdsa Posted April 28, 2023 Share Posted April 28, 2023 You need to ask your bank first but I think it should be OK as many UK financial institutions still support SEPA transfers even after the Brexit. Link to comment Share on other sites More sharing options...
Neeranam Posted April 28, 2023 Author Share Posted April 28, 2023 32 minutes ago, gamb00ler said: Google says: What is SEPA Payment Method? SEPA payments are cashless payments in euro currency that are processed via the Single Euro Payments Area network to facilitate cross-border bank transfers in 36 Eurozone and non-euro area countries. The SEPA payment method makes cross-border transfers fast and cost-effective. I see that, thanks. So it looks like the RBS accept SEPA but wondering about the EURO account. Link to comment Share on other sites More sharing options...
OneMoreFarang Posted April 28, 2023 Share Posted April 28, 2023 I am just a user and no banker, I had the following experience: Many banks in Europe transfer money with SEPA, a few use SWIFT. Having a EUR account in Europe means most of the time EUR can be easily and cheap transferred, i.e. via filling out an online form, with SEPA. If the receiving bank uses SWIFT instead of SEPA it's more complicated and more expensive. Link to comment Share on other sites More sharing options...
treetops Posted April 28, 2023 Share Posted April 28, 2023 Is your RBS account a Euro account? If so, then yes it's SEPA approved. https://www.rbs.co.uk/business/support-centre/making-and-accepting-payments/electronic-payments/sepa-direct-debit.html 1 Link to comment Share on other sites More sharing options...
Neeranam Posted April 28, 2023 Author Share Posted April 28, 2023 13 minutes ago, treetops said: Is your RBS account a Euro account? If so, then yes it's SEPA approved. https://www.rbs.co.uk/business/support-centre/making-and-accepting-payments/electronic-payments/sepa-direct-debit.html I'd better contact my bank. Thanks. Do you think I'd be better just getting paid into WISE, or equivalent? I am going to be transferring to my Thai banks at some point. Link to comment Share on other sites More sharing options...
Regyai Posted April 28, 2023 Share Posted April 28, 2023 Use Wise multi currency account and just open up the Euro account giving you a 'virtual' EU SEPA account 1 Link to comment Share on other sites More sharing options...
treetops Posted April 29, 2023 Share Posted April 29, 2023 11 hours ago, Neeranam said: I'd better contact my bank. Thanks. Do you think I'd be better just getting paid into WISE, or equivalent? I am going to be transferring to my Thai banks at some point. Where did the requirement per the thread title come from? Link to comment Share on other sites More sharing options...
Neeranam Posted April 29, 2023 Author Share Posted April 29, 2023 15 hours ago, treetops said: Where did the requirement per the thread title come from? I work for a German company Link to comment Share on other sites More sharing options...
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