If you are asking which UK banks accept SEPA payments, you probably have an EU customer ready to pay an invoice in euros and a UK account that may or may not be able to take it. Here is the short version: almost every mainstream UK bank will accept an incoming SEPA credit transfer. Acceptance is rarely the problem. The expensive part is what the bank does with the euros once they arrive.
This guide lists what the major banks say on their own pages, shows you how to check any bank yourself, and then gets to the question that actually moves your margin.
The short answer
The UK sits inside the SEPA scheme area. Santander UK defines the Single Euro Payments Area as all EU countries, the EEA, the UK, Guernsey, Jersey and the Isle of Man, plus a handful of other states. Nationwide's help page lists the United Kingdom in its SEPA Zone too.
So a UK bank that adheres to the SEPA Credit Transfer scheme can be reached by a payer in Germany, France or Spain just like a bank in the eurozone. What differs from bank to bank:
- •whether you need a specific account type (current account, currency account)
- •whether there is a fee to receive
- •whether your euros are converted into sterling on arrival, and at what rate
UK banks that accept SEPA payments, from their own pages
Every row below comes from the bank's own published page, not from a third party table. Tariffs change, so treat this as a starting point and confirm on the day.
| Bank | Accepts incoming SEPA? | Fee to receive euros from the EEA | Euros landing in a sterling account |
|---|---|---|---|
| Barclays (business) | Yes, with IBAN and BIC | £0 | Converted at the day's rate |
| HSBC UK (personal tariff) | Yes | £0 | Converted, with a conversion charge |
| NatWest / RBS (business) | Yes, into a sterling business account | Not stated on the page | Converted automatically |
| Santander UK | Yes, SEPA is a listed payment route | No fee for non-urgent SEPA | Not stated on the page |
| Nationwide | Yes, current accounts only | Not stated on the page | Not stated on the page |
| Handelsbanken UK | Yes, give your IBAN and BIC | Not stated on the page | Not stated on the page |
What each bank actually says:
Barclays. For business customers, there is no charge for euro payments from EU/EEA countries as long as the payer uses a valid IBAN and SWIFTBIC. Payments in another currency, or from outside the EU/EEA, cost £6. Incoming funds are converted to your account's currency at that day's exchange rate, unless you hold a Barclays currency account.
HSBC UK. Its personal international transfer page lists euros from the EEA as free to receive. That is the personal tariff; business customers should confirm their own.
NatWest and Royal Bank of Scotland. RBS states you can make and receive SEPA payments from your sterling business account, with the currency converted automatically. NatWest customers quote the BIC NWBKGB2L.
Santander UK. Non-urgent SEPA euro transfers carry no fee and arrive the next working day, subject to cut-off times.
Nationwide. You must use your current account to send or receive a SEPA or SWIFT payment; savings accounts are excluded unless a Nationwide team advises otherwise.
Handelsbanken UK. To receive a SEPA payment, give the payer your account's IBAN and Handelsbanken's BIC, HANDGB22.
Notice the pattern. The banks agree that SEPA works. They say much less about the rate you get when a euro payment lands in a sterling account.
How to check any bank yourself
A help page telling you "we support SEPA" is useful. The authoritative source is the scheme itself.
The EPC Register of Participants
The European Payments Council keeps a Register of Participants for each of its schemes: SEPA Credit Transfer, SEPA Instant Credit Transfer, SDD Core, SDD B2B, Verification of Payee and more. Only legal entities within SEPA that have adhered to a scheme appear in it. You can download the register and search by country and name.
Two practical tips:
- •Check the scheme, not just the bank. A provider can be in the SEPA Credit Transfer register without being in the Instant register. If your EU customers pay by SEPA Instant, look for your provider in that list specifically.
- •Check the legal entity. The register lists the entity that adhered, which may be a partner bank rather than the app you log into.
Why this matters for fintech accounts
The FCA spells out that a payment service provider must participate in one of the EU-wide SEPA schemes to be reachable for euro payments. Plenty of UK digital providers give you a euro IBAN through a scheme participant rather than adhering themselves. That works fine for the customer, but it means "does this app accept SEPA" is really a question about the product you hold, not the brand on the card. Ask the provider directly which entity issues your euro IBAN.
What you need to give an EU payer
For a SEPA credit transfer, the payer needs:
- •Your IBAN. Barclays states that to receive a SEPA credit transfer you must give the sender an IBAN. A UK sort code and account number on their own will not do.
- •Your BIC, which many EU banking apps still ask for.
- •Your account name, exactly as held. Verification of Payee is now its own EPC scheme, so give the payer the exact registered name.
If you are unsure which identifier goes in which box, our guide on which identifier each payment needs walks through it by corridor.
One more reason to insist on SEPA over SWIFT for euros: Santander notes that SWIFT payments to EEA beneficiaries may arrive with deductions by correspondent banks, while deductions cannot be taken from SEPA payments. Your invoice amount arrives intact.
The real question: what happens to the euros
This is where the bank you choose starts to matter.
Converted on arrival
If you hold only a sterling account, the bank converts incoming euros to pounds at its own rate. Barclays caps its conversion charge at 2% for business customers. HSBC's personal tariff shows a 2.2% conversion charge on amounts up to £50,000 paid into a sterling current account.
To make that concrete, simple arithmetic on the published caps: on a €10,000 invoice, a 2% charge is up to €200 gone before the money is usable, and 2.2% is up to €220. The payment was free to receive. The conversion was not.
There is a second cost that is easier to miss. When conversion happens automatically, you convert at whatever rate applies the moment the funds arrive. You lose the choice of when, or whether, to convert at all.
Held as euros
If you pay EU suppliers, staff or tax in euros, converting incoming euros to pounds and back again means paying the spread twice. Holding euros avoids that. Barclays offers currency accounts that incoming payments can be sent to directly, and specialist providers issue dedicated euro IBANs.
We compare the options in our guide to holding euros in a foreign currency business account, and a planned follow up covers which UK banks offer euro accounts in detail. For the operational side of getting paid, see receiving SEPA payments in the UK.
Where EXFI fits, and what it is not
Straight answer first: EXFI is not a bank. EXFI accounts are payment accounts, not bank accounts. Funds are not covered by the FSCS; they are safeguarded in segregated accounts under the Payment Services Regulations 2017. Regulated payment services are provided by Gemba Finance Limited (FCA FRN 804853), UK customers only. EX Financial Solutions Ltd, trading as EXFI, acts as a distributor of those services and is not itself authorised by the FCA.
What that gives a UK business receiving euros, per the published EXFI pricing and features:
- •a dedicated EUR IBAN alongside GBP and other currencies, so euros can stay euros
- •SEPA, FPS, BACS, CHAPS and SWIFT rails from one account
- •SEPA payments listed at £0.99
- •FX at 0.70% on major pairs when you do choose to convert
- •no monthly fee for UK-incorporated entities, no opening fee and no minimum balance
Business customers only. If you want to see how a dedicated IBAN changes invoicing, read what a dedicated business IBAN gives you. None of this is financial advice; compare the tariff for your own volumes and currencies.
FAQ
Is the UK still part of SEPA after Brexit?
Yes, for the purpose of the payment schemes. UK banks continue to list the UK inside the SEPA area, and UK payment providers that adhere to the EPC schemes appear in the Register of Participants. Leaving the EU did not take UK accounts out of SEPA credit transfers.
Can I receive a SEPA payment into a sterling account?
At many banks, yes. RBS and NatWest say so explicitly for sterling business accounts. The catch is that the euros are converted into pounds on arrival at the bank's rate, which is where the real cost sits.
Can I receive SEPA payments into a UK savings account?
Usually not. Nationwide, for example, only accepts SEPA and SWIFT payments into current accounts. Check with your own bank before sharing an IBAN for a savings product.
Why does a SEPA payment arrive in full when a SWIFT euro payment does not?
SEPA credit transfers cannot have deductions taken from them along the way. A SWIFT payment in euros can pass through correspondent banks that each take a fee, so your customer pays €10,000 and you receive less.