SEPA and SWIFT money transfers – what is the difference?

SEPA and SWIFT money transfers - what is the difference?

At myPOS we enable clients to make SEPA and SWIFT transfers securely and safely through the online account or myPOS mobile app. However, if you are not particularly familiar with finances, you might be wondering what exactly these types of transfers mean, what’s the difference between the two and how they benefit your business.

Let’s start off with what are SEPA and SWIFT.

SWIFT – the global provider of secure financial messaging

SWIFT stands for Society for Worldwide InterBank Financial Telecommunications. In brief, SWIFT is the global leading messaging system that banks and other financial institutions use to transmit information and financial messages related to payments and transactions.

The SWIFT messaging system is trusted for its robust security standards and high level of protection of each transaction. Thanks to SWIFT and particularly our SWIFT membership, myPOS clients can make cross-border money transfers securely, reliably and with confidence.

SEPA – achieving payment integrity throughout Europe

SEPA (stands for Single Europe Payments Area) makes it possible for people and businesses to make transfers in EUR with the same ease and convenience across Europe as they do when paying in their home country.

Currently, 34 European countries take part in the SEPA payment-integration project and embrace the main idea – to harmonise the electronic euro payments and provide simplicity, cost-effectiveness and convenience to the consumers and the business.

Now, let’s point out the differences between SWIFT and SEPA transfers:

  • SWIFT enables money transfers internationally, while SEPA payments can only be made within the SEPA area
  • SWIFT transfers can be executed in various currencies and the SEPA initiative encompasses transfers in euro alone.

Despite the differences, however, both SWIFT and SEPA share the same goal – to provide seamless, secure and reliable money transfers to people and the business, and to enhance the integrity of the increasingly dynamic system of payments.

Want to learn more about the different ways to make money transfers and accept payments through myPOS full-service platform? Send us an email at

We will be happy to hear from you!