The Single Euro Payments Area (SEPA) is an initiative that simplifies bank transfers in euros across Europe. It allows individuals and businesses to make and receive payments in euros under the same basic conditions, rights, and obligations, regardless of their location within the area. This means that sending money to another country in the eurozone is as easy as making a domestic transfer. SEPA covers 36 countries, including all European Union member states and a few others like Norway and Switzerland. By standardizing payment processes, SEPA enhances efficiency, reduces costs, and promotes competition among banks, ultimately benefiting consumers and businesses alike.