I’m a bit confused as to how SEPA works with currency conversion. For example, in Bitsquare I’ve setup a “SEPA (CHF/CH)” account. Now if someone sends me CHF via SEPA, how do the fees and conversion actually work?
Suppose the originating bank account is CHF, and the destination is CHF as well. Is there some conversion to Euro in this process?
If the originating bank is Euro, and the destination is CHF, does the sender know exactly how much CHF the recipient will get after all fees?
When sending from CHF to a Euro account, my bank shows:
But it is still confusing what this actually means.