SEPA Fee Calculator
Check whether your bank's charge for a SEPA transfer is allowed under EU rules, and compare what two quotes really cost.
No EU law makes SEPA transfers free. Banks set their own prices, but the law sets limits. A euro payment to a bank in another EU country cannot cost more than the same domestic payment. An instant transfer cannot cost more than a standard one, from 9 January 2025 in the euro area and from 9 January 2027 in other EU countries. Currency conversion is outside both rules, so a bank can still earn money on the exchange rate. This page checks a charge against the rules, and compares the total cost of two quotes.
Check a Charge Against the EU Rules
Take the amounts from your bank's price list. Use a dot for decimals, and leave out any currency conversion charge, which is not covered by these rules.
Compare What Two Quotes Really Cost
Enter what the recipient must receive and each provider's charges. If your account is not in euro, add the exchange rates, because the rate is often the biggest cost.
Type EUR if your account is in euro. For any other currency, type its code, such as GBP, and fill in the rates below.
Use the European Central Bank's euro reference rate or a mid-market rate for the same day.
Quote A
Quote B
The Rules on SEPA Charges
| Rule | What it says | Source |
|---|---|---|
| Equal charges | A euro payment to a bank in another EU country costs the same as the corresponding domestic payment. | Regulation 924/2009, Art. 3(1) |
| Not conversion | The equal-charges rule does not cover currency conversion charges. | Regulation 924/2009, Art. 3(4) |
| Instant parity | An instant credit transfer costs no more than other credit transfers of the same kind. Euro-area banks: from 9 January 2025. Other EU banks: from 9 January 2027. | Regulation 260/2012, Art. 5b |
| Payee check | The Verification of Payee service is free for all users. | Regulation 260/2012, Art. 5b(2) |
| Conversion disclosure | For an online credit transfer with currency conversion, the bank shows the estimated conversion charges, the total in your account currency, and the amount the payee gets, before you confirm. | Regulation 924/2009, Art. 3b |
| Each side pays its own bank | The payer pays their bank's charges and the payee pays theirs, and the full amount is transferred without deductions. | PSD2, Art. 62(2) and 81 |
Go Deeper
Is a SEPA Transfer Free?
Not by law. The EU sets limits on how much a bank can charge, and many banks charge nothing for a standard euro transfer, but that is the bank's choice. Look at your bank's price list. The rules above stop a bank from charging more for a cross-border euro payment inside the EU than for the same payment at home. They also stop it from charging more for an instant transfer than for a standard one.
Who Pays What
Under the EU payment rules, when both banks are in the Union, the payer pays the charges of the payer's bank and the payee pays the charges of the payee's bank. The banks must transfer the full amount without deducting their charges from it. A SEPA transfer of €100 arrives as €100, unless the payee has agreed that their bank deducts its own charge and shows it separately.
Currency Conversion Is Where the Cost Hides
SEPA payments are in euro. If your account is in another currency, your bank converts the money, and the exchange rate it uses can be worse than the market rate. The equal-charges rule does not cover this. What the law requires is disclosure: for an online credit transfer that involves conversion, your bank must show you the estimated conversion charges and the estimated total in your account currency before you confirm. Use the second calculator on this page to turn a quoted rate into a percentage. A quote with a 0% fee and a poor rate can cost more than one with a fee and a good rate.
SEPA and SWIFT
| Feature | SEPA credit transfer | International wire (SWIFT) |
|---|---|---|
| Currency | Euro | Many currencies |
| Where | SEPA scheme countries | Almost anywhere |
| Price | Set by your bank. Capped by the EU rules within the EU. | Set by each bank. The EU equal-charges rule covers a wire in euro between two EU countries, and not other currencies or banks outside the EU. |
| Account identifier | IBAN | IBAN or account number, and a BIC |
We do not give typical wire fees, because they differ widely between banks and no public list exists. Compare the actual quotes with the calculator above.
If You Think You Were Overcharged
- Find the fee in your bank's price list or on your statement, and the fee for the same domestic transfer.
- Use the checker above to see whether the numbers break a rule.
- Write to your bank and ask for the fee to be refunded, citing the rule.
- If the answer does not satisfy you, complain to the authority your country has designated. The Payment Services Directive requires each EU country to set up a complaints procedure with a competent authority, and to point complainants to alternative dispute resolution (Articles 99, 100 and 102). Your bank's complaints information should say which body to contact.
What This Page Uses
The rules are from Regulation (EC) No 924/2009, as amended by Regulation (EU) 2019/518, which has applied since 15 December 2019, and from Article 5b of Regulation (EU) 260/2012 as inserted by Regulation (EU) 2024/886. The rules on who pays are from Articles 62 and 81 of Directive (EU) 2015/2366 (PSD2). We read the articles in the Official Journal texts. We did not use any bank's price list. We last checked on 19 September 2026.
Frequently Asked Questions
Are SEPA transfers free?
Not by law. Many banks charge nothing for a standard euro transfer, but that is their choice. EU law limits what a bank can charge: a euro payment to a bank in another EU country cannot cost more than the same domestic payment, and an instant transfer cannot cost more than a standard one. Check your bank's price list.
What does Regulation 2019/518 say about SEPA fees?
It amended Regulation 924/2009 so that charges for cross-border payments in euro are the same as the charges for corresponding national payments (Article 3(1)). It has applied since 15 December 2019. It does not cover currency conversion charges (Article 3(4)), which have their own transparency rule.
Can my bank charge more for a SEPA payment to another country than to a domestic account?
Not if both banks are in EU member states and the payment is in euro. The charge must be the same as for the corresponding domestic payment. The rule looks at where the two banks are, so it does not cover a payment to a bank in the UK, Switzerland or another country outside the EU.
Can a bank charge more for an instant transfer?
No. Under Article 5b of Regulation 260/2012, charges for sending and receiving instant credit transfers cannot be higher than for other credit transfers of the corresponding type. It has applied to banks in euro-area countries since 9 January 2025 and applies to banks in other EU countries from 9 January 2027.
Is Verification of Payee free?
Yes. Article 5b(2) says the Verification of Payee service must be provided free of charge to all users. Euro-area banks had to offer it from 9 October 2025 and banks in other EU countries must from 9 July 2027.
Who pays the fees on a SEPA transfer, the sender or the recipient?
Each pays their own bank. Under Article 62(2) of the Payment Services Directive, when both banks are in the Union, the payer pays the charges of their bank and the payee pays the charges of theirs. The banks must transfer the full amount without deducting charges from it (Article 81).
Does the fee rule cover the exchange rate?
No. Article 3(4) of Regulation 924/2009 says the equal-charges rule does not apply to currency conversion charges. For an online credit transfer with conversion, your bank must show you the estimated conversion charges, the estimated total in your account currency and the amount the payee will get before you confirm (Article 3b).
How do I work out what the exchange rate costs me?
Find a reference rate for the same day, such as the European Central Bank's euro reference rate. Divide the rate your bank offers by the reference rate and subtract 1. If your bank offers 0.885 pounds per euro and the reference is 0.86, the markup is 2.9%. The second calculator on this page does this and adds the fees.
Why is my bank charging me for a SEPA transfer?
It may be within the rules. A bank can charge for domestic and cross-border SEPA transfers as long as the charge for a euro payment to another EU country is not higher than for the corresponding domestic one. The charge may also be for something the rules do not cover, such as a conversion charge, a payment from a non-EU bank, or a payment in another currency.
How do I complain about a charge that breaks the rules?
Ask your bank to explain it and to refund the difference. If it does not, complain to the authority your country designated under the Payment Services Directive (Articles 99 and 100), and ask about the alternative dispute resolution body (Article 102). Your bank's complaints information should say which bodies to contact.
Do these rules apply in the UK, Switzerland, Norway and Iceland?
The regulations are EU law. They apply to banks in EU member states. UK and Swiss banks are in the SEPA scheme area, but the EU rules do not apply to them directly, and Norway, Iceland and Liechtenstein are in the European Economic Area and may apply similar rules, which we have not checked. Ask your bank what it charges.
How does SEPA compare with a SWIFT wire?
A SEPA transfer is in euro between SEPA countries, and your bank sets its price within the EU limits. A wire can be in other currencies and to almost any country, and each bank sets its price. We do not give typical wire fees, because they differ widely and no public list exists. Enter the real quotes in the comparison to see the total cost.
Where do these rules come from and how current are they?
From Regulation (EC) No 924/2009 as amended by Regulation (EU) 2019/518, Article 5b of Regulation (EU) No 260/2012 as inserted by Regulation (EU) 2024/886, and Articles 62, 81, 99, 100 and 102 of Directive (EU) 2015/2366. We read them in the Official Journal texts on EUR-Lex. We last checked on 19 September 2026. The rules can change, so check the sources if it matters.
Is anything I type stored or sent?
No. The checks run in your browser. Nothing you type is sent to a server or saved by this page.
