SEPA Countries definition

SEPA Countries means the current members of the Single European Payments Area as may be amended from time to time. At the date of these Conditions the SEPA Countries include the 27 EU Member States, Iceland, Liechtenstein, Monaco, Norway and Switzerland. It also includes the following territories that are considered to be part of the EU in accordance with Article 299 of the Treaty of Rome: Martinique, Guadeloupe, French Guiana, Reunion, Gibraltar, Azores, Madeira, Canary Islands, Ceuta and Melilla and Aland Islands.

SEPA Countries means an outbound money transfer from Client’s account and balance in EUR to any bank account in EUR in SEPA country, complaint with the EU Regulations of SEPA credit transfers. SEPA countries are all countries in EEA and other countries, including Switzerland, Lichtenstein, Iceland and others, officially listed by European Payment Council at xxxx://xxx.xxxxxxxxxxxxxxxxxxxxxxx.xx/xxxxx.xxx/knowledge-bank/epc-documents/epc-list-of-sepa-scheme-countries/;

SEPA Countries means the countries in the SEPA zone. The list of SEPA Countries is available at the European Payments Council's web site www.europeanpaymentscouncil.eu.

Examples of SEPA Countries in a sentence

• A Payment Order for Remittance in the Euro currency to another bank with its registered office in a SEPA country that has acceded to SEPA which does not have the form prescribed for a Domestic Transfer shall be executed as a Cross-Border Transfer.The list of SEPA Countries is provided in Annex 1 hereto.

• For the transfers to SEPA Countries and in the currencies of SEPA Countries, only the SHA code of payment of fees can be stated.

• An incoming payment received in favour of the Client from the payer's bank located outside the SEPA Countries or an incoming payment in a currency that is not the currency of a SEPA Country may be reduced by the payer's bank or intermediary banks.

• For the transfers to and from SEPA Countries and in the currencies of SEPA Countries, the sum of transfer must not be reduced by the intermediary banks.

• The Bank shall not be obliged to notify the Client of the accurate amount of the fees to be additionally collected for the OUR type fee for a payment in favour of the beneficiary’s bank in another SEPA Country or for a payment in a currency other than the currency of SEPA Countries.