The Single Euro Payments Area is a single area in which the distinction between domestic and international payments in euros is completely eliminated. The first SEPA-related changes came into effect on January 28, 2008.
The purpose of the project is to improve the efficiency of interstate payments and to unite the national markets of different countries into a single home market. The Single Euro Payments Area will allow users to make non-currency transactions in Euros to any other user located anywhere in the area using a single bank account and a single set of payment instruments.
Exchange rate now: 1 SEPAEUR = 1.072 USD
