Few people in the modern world are not familiar with the system of money transfers. People make money transfers both within their country and between countries. In the countries of Europe and the Eurozone, bank transfers in euros are carried out using SEPA transfers, which is an acronym for Single Euro Payment Area.
What are SEPA transfers?
To make a SEPA bank transfer, the sender and recipient must have an IBAN (International Bank Account Number) format account number. SEPA transfers are convenient as they allow you to instantly make euro payments in 36 countries around the world, 27 of which are members of the European Union.
The main goal of SEPA payments is to standardize money transfer procedures in the EU zone.
SEPA is a single system for money transfers within Europe for conducting trade operations and cross-border transactions. By using this system to transfer money, it is possible to significantly reduce transaction fees and send an instant SEPA transfer, which takes anywhere from a few seconds to one day.
When sending SEPA payments, the transfer time depends on various factors, but it usually happens very quickly. However, there are some details that are necessary to complete the transfer. Some important conditions include:
- transfers can only be made in euros;
- the recipient’s bank must be located within the SEPA zone;
- the recipient must have an IBAN for their account to simplify cross-border transfers;
- the commission for payments is split equally between the recipient and sender.
SEPA transfer is advantageous and fast, especially with WestStein payment card.
WestStein’s prepaid virtual card serves not only for paying for purchases and services, but also for making SEPA instant payments.
To become a client of the financial company WestStein, you need to fill out the registration form on the website, which will require you to provide your name, surname, phone number, address, and email address. After the data is verified, a company representative will call back for verification and confirmation of the virtual account creation. After that, you can replenish your account in a convenient way and enjoy using it. Any person who has reached the legal age can become a client of the company. The virtual card appears immediately after registration, and the plastic physical card will be delivered within 10 days after registration.
The advantage of the virtual card is not only its ease of use, but also the absence of the risk of loss or theft.
Opening an online account with WestStein
By creating an online account with WestStein, you will immediately receive numerous benefits and be able to appreciate the convenience of its use. The virtual account is prepaid, which means you only use your own funds without the risk of falling into credit during shopping spree. You will be able to manage your expenses independently through free internet banking and a convenient smartphone application, where you can easily and clearly monitor your financial movements.
Having an IBAN code on the prepaid card, international payments through the SEPA system are quick and reliable. You can easily transfer money to your children, parents and relatives abroad, receive and transfer salaries to remote employees, pay for purchases in stores in countries where the Mastercard payment system is accepted. You can also book hotels in different countries, pay for air tickets, pay at restaurants and cafes using the prepaid card.
In case of need, cash can be withdrawn from almost any ATM with a small commission charge. The account can be replenished by any means at any time and place where internet is available.
Advantages of using the WestStein prepaid card:
- Versatility of use. The card can be used for any purpose without limitations everywhere where the Mastercard payment system is present.
- Can be replenished in any way and the option to withdraw cash from an ATM.
- Ability to constantly monitor expenses and set limits independently, especially useful for pre-paid children’s cards. With a limit, the child will not spend more than allowed.
- Reliable protection system through individual PIN codes and Mastercard 3D Secure.
- Supports quick, contactless payments.
- SEPA money transfer with the WestStein card is instant.
Easily manage your finances with a prepaid card from the financial company WestStein!