View source for Sepa

'''SEPA''' is a payment method added used in Bisq for buying and selling BTC for Euros (EUR). 

SEPA is the most common way people in the EU send and receive payment to each other via their banks.

SEPA payment payments are usually take a couple of working days to complete, but can take up to 6 days depending on weekends / public holidays.

== Where can I find out more about SEPA? ==

Here is a list of SEPA resources:

* [https://en.wikipedia.org/wiki/Single_Euro_Payments_Area SEPA Wikipedia Page]
* [https://www.europeanpaymentscouncil.eu/ SEPA regulator]

== What countries are available for SEPA? ==

SEPA payments is available to most people in Europe. All EU users and some additional European countries.

== What currencies are available for SEPA? ==

SEPA allows peer to peer payments of:

* Euros (EUR)

== What is the maximum trading duration for SEPA? ==

The maximum trade time is 6 days. Generally SEPA payments will be completed within 2 working days. SEPA payments are usually not processed on Saturday, Sundays or bank holidays.

== What is the maximum BTC limit for a SEPA trade? ==

0.25 BTC.

== Is SEPA a payment method that can be signed? ==

Yes, SEPA payment accounts on Bisq require [[Account_limits|signing]] to lift limits to above 0.01 BTC. 

== How do I set up a SEPA account? ==

SEPA are supported by all EU based banks, some EU based payment providers as well as some non-EU European banks and payment providers.

== How do I add a SEPA account as a payment method in SEPA? ==

It is easy to add your SEPA account to Bisq.

# Go to the top menu in SEPA and select Account. 
# Then select National Currency Accounts. 
# Click add new account
# Select SEPA
# Complete the details
# Choose to use a custom account name this helps makes it easier for you to manage multiple payment methods in Bisq (this will be visible only to you, for example: Faster Payments - GBP - Jan Franco
# Click save new account

Make sure all the details are correct when you add.

Make sure to include both your Name as shown by the bank when you send payment (eg Jan Franco, or Franco. Jan), your IBAN and BIC number.

{{Admonition_Warn|Revolut SEPA accounts are not allowed on Bisq due to poor acceptance by other banks}}

== How do I buy BTC with my SEPA account? ==

You can buy BTC with SEPA on Bisq in 2 waysː

# Make an offer to buy BTC on the EUR market.
# Take an offer to buy BTC on the EUR market.

When the offer is confirmed Bisq will provide you with the BTC Sellers SEPA details for you to complete the payment. You should send payment immediately and confirm you have done so in Bisq by clicking 'payment started'.

If you have the option to include a payment reference please leave it blank. If your bank requires one, please just use your name that matches your bank account.

Once the BTC Seller receives your payment they will confirm in Bisq and your security deposit and your purchased trade amount will be available in your wallet.

{{Admonition_Warn|Please send payment only to the details provided by the BTC Seller in their Bisq account. Please leave the payment description blank.}}

== How do I sell BTC with my SEPA account? ==

You can sell BTC with SEPA on Bisq in 2 waysː

# Make an offer to sell BTC on the EUR market.
# Take an offer to sell BTC on the EUR market.

When the offer is confirmed Bisq will provide with the BTC Buyer with your SEPA details for you to complete the payment. They should send payment at their first opportunity and confirm they have done so in Bisq by clicking 'payment started'.

Once you receive payment from the BTC Buyer you should confirm payment has been received in Bisq. One you have done this the BTC Buyer will receive their funds and you will receive your security deposit back.

{{Admonition_Warn|BTC Sellers should expect to receive payment from the name shown in the BTC Buyer's Bisq account. Not all banks will show the IBAN and BTC number the payment came from but the name must match.}}

== Are there any limits for me to be aware of when using my SEPA account? ==

Limits are set by your bank. Check with your bank what the limits allowed are. Most limits are about €50,000 per day. There is no minimum limit.

== Are there any fees for me to be aware of when using my SEPA account? ==

It is free to send and receive SEPA payments (as in the SEPA network itself do not charge fees to the operators). However, some banks might add changes to send or receive SEPA payments. If your bank has SEPA charges consider looking to open a new bank with fee free banking.

== How does dispute resolution when trading with SEPA? ==

If a dispute occurs the mediator may ask the buyer to send them information showing that they made the payment of the correct amount to the BTC Seller within the correct time frame. 

The mediator may ask the seller to send them information to prove their account details are correct, or in the case of the BTC Buyer making a payment late, or of the wrong amount. 

For more information see [[dispute resolution]].