The Single Euro Payments Area (SEPA) is a European Union initiative that aims to make cashless euro payments across the Eurozone easier, similarly to national payments.
Any countries which participate in SEPA, which include:
You can find a full list of countries participating in SEPA here: Single Euro Payments Area (SEPA).
If someone needs to pay you in euros, they should use your EUR SEPA account details. Once they’ve sent the funds, we’ll convert them into GBP and credit them to your primary Tide account.
If someone needs to pay you in GBP from overseas, they should use your GBP account details. These payments are usually sent to you via the SWIFT network.
You should use them if you want to get paid in euros by someone in a SEPA country. Share your EUR SEPA account details with them, and when they pay you, we’ll convert the euro funds into GBP and credit them to your primary Tide account.
There aren’t any limits on the number of euro payments that you can send or receive via EUR SEPA.
However, EUR SEPA payments that you receive will count towards your account balance, and will be subject to any account limits you may have.
If you’re receiving a payment:
Payments sent to you via EUR SEPA usually take a few minutes to arrive in your account, but they can take up to 3 working days.
If you’re sending a payment:
If you send a payment via EUR SEPA by 1:50pm GMT on a working day (Monday to Friday excluding bank holidays), it’ll arrive in your recipient’s account on the same day, as long as there aren’t any delays due to the required regulatory checks or your recipient’s bank.
Any payments sent after the cut-off time or on a non-working day will arrive in your recipient’s account on the next working day.
We process your EUR SEPA payments through our licence, so we’ll show you the transactions specifically on that licence in your EUR SEPA statement.
To view your EUR SEPA statement, follow the instructions given in the FAQ titled: Where can I see all the EUR SEPA payments that I’ve received?
You can read the T&Cs here: SEPA Service Terms and Conditions.
Like GBP payments, the fee you’ll pay to send or receive euros via EUR SEPA depends on how many payments are included in your plan.
The fees are billed as part of our monthly billing process and will be included in the total fee amount summary on your bank statement.
You won’t be charged anything for requesting EUR SEPA details for your account.
We use the interbank exchange rate, and apply a small markup to it.
If you’re sending a payment:
As soon as you enter how much you’d like to send in euros, we’ll show you a live exchange rate, a fixed FX markup fee and the transfer fee (which depends on the number of transfers included in your plan) on screen. The exchange rate will automatically update every 30 seconds.
After you’ve made the payment, you can see the exchange rate used again by tapping on the transaction in your timeline.
If you’ve received a payment:
To see the exchange rate used, markup and transfer fee amount (which depends on the number of transfers included in your plan), tap on the transaction in your timeline.
First, you need to request your free set of EUR SEPA details for your account. To do this:
Once you’ve got your account details, you can quote them to your customers in SEPA countries in order to receive payments in euros from them.
Once we receive a EUR SEPA payment on your behalf, we’ll immediately convert it into GBP (provided all our checks are fine) and credit the funds to your primary Tide account in GBP.
You can find a list of these payments in your monthly EUR SEPA statement. To access yours:
The sender should always be able to pay you in EUR if you give them your EUR SEPA account details. They need to select EUR as a currency before sending the payment. If they send it in GBP, their bank may charge them additional fees. Please note that funds sent in currencies other than euros will fail to reach your account.
You can send payments in euros via EUR SEPA, straight from your Tide app. To do this:
You need the following information about the person or company you’re paying:
No, but you’ll be able to see that the payment didn’t go through because it’ll appear as a failed payment in your timeline.
Yes. We wanted to offer the ability to transact in euros first, as this was the main feature requested by our members. We’re working on adding the option to store euro funds in a EUR wallet, and will let you know as soon as this is available.
Yes. We’re working on adding many more currencies, starting with USD. We’ll let you know once new currencies are available.
Not at the moment. You can only get one set of EUR SEPA account details that we link to your primary Tide account (the first one on your list of accounts, if you have more than one).