> Only downside of SEPA is that it is a lot less common outside EU/Europe
SEPA stands for "Single Euro Payments Area" and was build for the EU/Europe, I don't think it's available outside of Europe.
SEPA stands for "Single Euro Payments Area" and was build for the EU/Europe, I don't think it's available outside of Europe.
I should ask my boss how we get money from customers in other countries. As far as I knew we just give them our IBAN, chamber of commerce number for tax reasons, and it just appears in our account.
-- IBAN Wikipedia [0]
It’s not that widespread. For international payments, you can do international bank transfers which have fees associated with them which can be shared or put on one side of the transaction only. It’s often easier and cheaper to use a 3rd-party provider like XE or TransferWise.
[0]: https://en.wikipedia.org/wiki/International_Bank_Account_Num...