Might be a dumb question for some but not entirely obvious to me because I was always under the impression SEPA were meant for international transfers only. Can anyone confirm if it’s possible to SEPA trade with accounts in your own country? I’m asking how the banks handle this, not how it’s handled in Bisq because as far as I can tell there’s no issue in Bisq. Anyway I’m guessing it should work but would the bank find it weird and question the transfer? Can anyone that has tried confirm there’s no issues?
Bonus question: Can SEPA accounts trade with SEPA Instant Transfer accounts? I’m guessing the answer is No here
I guess the important thing about SEPA is the IBAN number that is necessary to initiate a payment. Depending on the country you live in, the IBAN number may be used as well for doing national bank transfer. Because the number can be algorithmic validated it is a safe option for banks to process correctly.
Though there remains the question of the currency that is usually the € in SEPA. So if you do a SEPA transfer in a country that is not using the Euro, it is trickier. Doing so may result in a cascade of bad exchange rates for the buyer and seller. There it would probably be wiser to calculate the exchange rate yourself and initiate a national bank transfer using the IBAN and transfer the equivalent value in the national currency, but I do not have any experience in these concerns…
Single euro payments area (SEPA)
SEPA establishes a single set of tools and standards that make cross-border payments in euro as easy as national payments.