SEPA is a payment integration initiative from the Euro Zone, currently consisting of 28 members. The goal of SEPA is to simplify cross-boarder bank transfer denominated in EURO.
This method guarantees in the EURO zone that payments can be done within a guaranteed time, and banks are not allowed to make deductions front he amount being transferred. However, if used to transfer EUR to other banks or payment institutions (domestic or foreign), they the option of charging a credit-transfer fee of their choice for euro transfers.
This option at CoinField is only available to EU residents and EURO transactions. Once the funds are withdrawn and settled within our bank, we then populate your CoinField balance with those funds - minus applicable fees.
To be able to use this method of funding, you must have your account approved minimum to Level 5 in the KYC verification process.
¹ Be advised that any third party extra fees charged is not under CoinField responsibility, as we have no control over different Banks and Financial Institutions.