SEPA vs SWIFT: How SEPA compares to SWIFT and TARGET2
Need to send money overseas? Unless you jump on a plane with a suitcase full of cash, you are likely to use a bank or money transfer service to send your funds to an international destination. And this means you are also likely to come across the main international payments systems used: TARGET2, SWIFT and SEPA. They all share the same goal - providing secure cross-border money transfers - but differ across parameters such as coverage and speed.