Free euro-denominated electronic payments

BCV now no longer charges you a fee for euro-denominated electronic payments and standing orders made in the Single Euro Payments Area (SEPA). The SEPA initiative encompasses 31 countries, including all European Union and European Economic Area member states and Switzerland.

As BCV is now a SEPA participant, we can waive the transaction fees on euro-denominated electronic payments and standing orders that meet the following criteria*:

• The amount must be in euros.
• You must provide the beneficiary’s IBAN (International Bank Account Number).
• You must provide the beneficiary bank’s BIC (Bank Identifier Code).
• The order must specify shared fees (SHA) as the fee option.
• The order must not include any special instructions for the beneficiary bank.
• The beneficiary bank must be a SEPA participant.

Just one more reason to make your payments through BCV-net!

* For payment amounts in excess of EUR 100,000, you must enter “SEPA” under "message to BCV" if you wish the order in question to be executed in accordance with SEPA. If you do not do this, the payment will not be executed in accordance with SEPA, which could result in the payment being executed more quickly, but with a transaction fee being applied.

If any of the SEPA criteria are not met, the normal transaction fees for foreign-currency electronic payments and standing orders shall apply.

If the order meets all the above SEPA criteria but you do not wish it to be executed in accordance with SEPA, please enter “non-SEPA” under "message to BCV". The transaction fees can only be waived on electronic payments and not on any other type of payment.

If you have any electronic standing orders stored in BCV-net and you would like them to be executed in accordance with SEPA, please ensure that they meet all the SEPA criteria.