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SEPA is an initiative of the European banking sector that has been created as a response to the need for a single market for making payments in euros. In this way, individuals and companies can make payments easily, safely and efficiently, in the same way as they do today within their countries, by using a single account and a single set of standardised payment instruments. Since January 2008, individuals and companies have been able to use the payment instruments created by SEPA together with their national instruments. The SEPA project is coordinated by the European Payments Council with the support of the European Commission and the European Central Bank. For more information on the transition to SEPA in Spain, see: |