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EU Payment (English)

EU Payment/ SEPA Credit Transfer (SCT) is an electronic payment in euro from one bank account to another in the SEPA area*. This type of credit transfers are processed and charged the same way irrespective of whether the payee's account bank is in Denmark or in another SEPA country.

Main benefits

  • Same format regardless whether the euro payment is sent within a euro country or between different SEPA countries.
  • SCT is the local payment type in all euro countries and thereby cheaper than equivalent international transfer, if the euro payment is sent cross SEPA area.
  • SCT is faster. The receiving bank will receive the payment the next banking day at latest if registered before cut off.
  • The payment fee is not deducted from the payment, thus the full amount is always transferred.
  • Transfer fee is always shared between the initiator and beneficiary and charged separately. 
  • There is no amount limit for this kind of payment.
  • One standardized format (ISO 20022 XML) to maintain.
  • 140 character remittance information for better reconciliation process.


 In order to use EU Payment/ SCT as the preferred payment type, the ordering customer must fulfil following conditions:

  • The transfer currency must be in euro
  • The receiving bank must be located in the SEPA area
  • The transfer must be in ISO 20022 XML format and either sent to bank in the mentioned file format or manually initiated in the preferred payment channel
  • The account number of the receiver must be in IBAN (International Bank Account Number) format

In order to use EU Payment/SCT as the preferred collection type for euro transfers, receiving customer should inform the sender of its own IBAN. 

Relevant links


International account number for cross-border payments

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The Bank Identifier Code (BIC, formerly SWIFT) is a characteristic that identifies the bank.

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