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The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. As of November 2013, SEPA consists of the 28 EU member states, the four members of the EFTA (Iceland, Liechtenstein, Norway and Switzerland) and Monaco.
(source: http://en.wikipedia.org/wiki/Single_Euro_Payments_Area)
