European bank transfers

Would you like to transfer money to another European bank account? The easiest option is a SEPA bank transfer or direct debit.

Below is a description of the SEPA bank transfer.

How does a SEPA bank transfer work?

It is really easy to pay in euro via a SEPA bank transfer. You only need to enter the following information:

  • the IBAN number of the payer and payee involved in the SEPA bank transfer:
    The IBAN is the international reference of your bank account number. The first two letters in the code refer to the account holder’s country and are followed by a series of numbers. The code will never include more than 34 digits. A Belgian IBAN number comprises 16 digits: BE + 2 check digits + the 12 digits indicating the bank account number.


  • the BIC or SWIFT address of the payee’s bank:
    This code identifies the bank, which manages the account. All European banks have individual codes. A BIC number consists of an eight or eleven digit letter code (e.g. BANKBEBB).

How much does a SEPA bank transfer cost?

Are you making a SEPA bank transfer for less than 50,000 euro? Then the cost will be the same as for a national payment.

Are you paying in a different currency? Remember to take the exchange charges into account.

How long does a SEPA bank transfer take to complete?

It takes maximum two working days to process a SEPA bank transfer, depending upon the particular circumstances:

  • SEPA transfer within the same bank – The amount will be moved from your account to the beneficiary’s account on the day you issue the instruction.
  • electronic SEPA transfer to a different bank – Will be completed on the first working day following your payment instruction.
  • paper SEPA transfer to another bank – The bank will deduct the amount at the latest on the second working day following your payment instruction.

Familiarise yourself with the European direct debit!