Most SEPA transfers are completed on the same day.
SEPA is the abbreviation for the Single Euro Payments Area and consists not only of the euro countries, but also of the other European Union countries, other European countries and their dependencies.
IBANs are used in local account transfers (from one Bitsafe account to the other), SEPA transfers and wire transfers. Therefore all Bitsafe IBANs start with NL, then two check digits, then BITS (the first four letters of Bitsafe’s BIC/SWIFT number) and then a 10-digit account number. Bitsafe issues these IBANs from the Netherlands. The IBANs of Bitsafe are easily recognizable. An IBAN starts with the two letter country abbreviation, then two check digits and then the çountry-specific and user-specific string of alphanumeric characters.īitsafe provides unique IBANs to all its customers, both talent and businesses alike. While the IBAN system was published in 1997 by the international organization for standardization it took years before most countries have adopted the format. With IBAN all these different systems are merged into one format.
#Bitsafe transfer code#
For example, in the United Kingdom there was the sort code and in Germany the Bankleithzahl. Before the introduction of IBAN various countries had their own national standards for bank identification. The International Bank Account Number (IBAN) is an internationally agreed system of identifying payment accounts across national borders to reduce the risk of transcription errors.
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