--- title: What is SEPA countries and why I need IBAN to send money? description: SEPA stands for Single Euro Payments Area. It is an initiative by the European Union to simplify bank transfers in euros. SEPA aims to make cross-border payments as easy and efficient as domestic paym --- [Skip to content](https://help.wallex.asia/what-is-sepa-countries-and-why-i-need-iban-to-send-money#main-content) English Show submenu for translations ![Wallex by MDAQ Colour.png\]](https://help.wallex.asia/hs-fs/hubfs/Wallex%20by%20MDAQ%20Colour.png?height=50&name=Wallex%20by%20MDAQ%20Colour.png) Open main navigation Close main navigation - English Show submenu for translations - Go to Wallex Go to Wallex How can we help? - There are no suggestions because the search field is empty. 1. [Help Page](https://help.wallex.asia/?hsLang=en) 2. [Global Payment](https://help.wallex.asia/global-payment?hsLang=en) 3. [General Information](https://help.wallex.asia/global-payment?hsLang=en#general-information) # What is SEPA countries and why I need IBAN to send money? ### SEPA Countries **SEPA** stands for **Single Euro Payments Area**. It is an initiative by the European Union to simplify bank transfers in euros. SEPA aims to make cross-border payments as easy and efficient as domestic payments within participating countries. As of now, SEPA includes the following countries: - All 27 EU member states (including their territories, such as the Canary Islands, Madeira, and the Azores) - Four member countries of the European Free Trade Association (EFTA): Iceland, Liechtenstein, Norway, and Switzerland - The United Kingdom - Andorra - Monaco - San Marino - Vatican City ### IBAN **IBAN** stands for **International Bank Account Number**. It is a standardized international system for identifying bank accounts across national borders to facilitate the communication and processing of cross-border transactions. Here’s why an IBAN is important: 1. **Standardization:** The IBAN system provides a standardized format that ensures consistency in account numbers across different countries, making it easier for banks to process payments. 2. **Accuracy:** An IBAN reduces errors and delays in cross-border payments by ensuring that all necessary information is included and correctly formatted. 3. **Efficiency:** Using IBANs improves the efficiency and speed of international money transfers by providing clear, standardized account details. 4. **Compliance:** Many countries and banks require the use of IBANs for cross-border transactions to comply with international regulations and standards. - [Getting Started](https://help.wallex.asia/getting-started?hsLang=en#main-content) - [General Information](https://help.wallex.asia/getting-started?hsLang=en#general-information) - [Registration](https://help.wallex.asia/getting-started?hsLang=en#registration) - [Akun Wallex Indonesia (Bahasa)](https://help.wallex.asia/getting-started?hsLang=en#akun-wallex-indonesia-bahasa) - [Account Management](https://help.wallex.asia/account-management?hsLang=en#main-content) - [Account Privacy](https://help.wallex.asia/account-management?hsLang=en#account-privacy) - [Account Setting](https://help.wallex.asia/account-management?hsLang=en#account-setting) - [Account Verification](https://help.wallex.asia/account-management?hsLang=en#account-verification) - [Introduction of Authenticator App (TOTP)](https://help.wallex.asia/account-management?hsLang=en#introduction-of-authenticator-app-totp) - [Global Payment](https://help.wallex.asia/global-payment?hsLang=en#main-content) - [Guideline](https://help.wallex.asia/global-payment?hsLang=en#guideline) - [General Information](https://help.wallex.asia/global-payment?hsLang=en#general-information) - [Sending Money](https://help.wallex.asia/global-payment?hsLang=en#sending-money) - [Payment Issues](https://help.wallex.asia/global-payment?hsLang=en#payment-issues) - [Receiving Issue](https://help.wallex.asia/global-payment?hsLang=en#receiving-issue) - [International Collection](https://help.wallex.asia/international-collection?hsLang=en#main-content) - [Closure of DBS Unnamed Virtual Accounts](https://help.wallex.asia/international-collection?hsLang=en#closure-of-dbs-unnamed-virtual-accounts) - [General Information](https://help.wallex.asia/international-collection?hsLang=en#general-information) - [Incoming Money](https://help.wallex.asia/international-collection?hsLang=en#incoming-money) - [Receiving Issue](https://help.wallex.asia/international-collection?hsLang=en#receiving-issue) - [Multi-Currency Wallet](https://help.wallex.asia/multi-currency-wallet?hsLang=en#main-content) - [General Information](https://help.wallex.asia/multi-currency-wallet?hsLang=en#general-information) - [FX Conversion](https://help.wallex.asia/fx-conversion?hsLang=en#main-content) - [General Information](https://help.wallex.asia/fx-conversion?hsLang=en#general-information) - [Wallex API](https://help.wallex.asia/wallex-api?hsLang=en#main-content) - [General Information](https://help.wallex.asia/wallex-api?hsLang=en#general-information) - [Others](https://help.wallex.asia/others?hsLang=en#main-content) - [Wallex Company Name Change](https://help.wallex.asia/others?hsLang=en#wallex-company-name-change) - [Referral](https://help.wallex.asia/others?hsLang=en#referral) - [Global Account](https://help.wallex.asia/others?hsLang=en#global-account) - [Wallex Malaysia](https://help.wallex.asia/others?hsLang=en#wallex-malaysia) Wallex is a payments solution by M-DAQ Global Pte. Ltd., a leading fintech group driving seamless cross-border transactions through a comprehensive suite of payments and foreign exchange (FX) solutions. For more information, visit wallex.asia or email us at contactus@m-daq.com. Copyright © 2026, M-DAQ Payment Solutions Pte. Ltd