SEPA stands for “Single Euro Payments Area” and it’s a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. This area was established through European directives with the aim of making all payments in euros faster and safer than before. 

The SEPA transfer replaces previous payment procedures.

SEPA transfers indicate a payment procedure for arranging non-urgent euro transfers between customers with current accounts located within countries belonging to the SEPA area.

What are the main features of a SEPA credit transfer?

• No limits in reaching the accounts of SEPA beneficiaries.
• No limits on the amount of payments and no deductions.
• Only BIC and IBAN are required.
• The maximum execution time of the transaction is fixed.

A bulk transfer is an operation that allows you to send multiple SEPA instant credit transfers at the same time through a single transaction.

CBIfast allows you to save all that time otherwise spent in the manual submission of bank transfers: with just a few clicks you can send all the necessary transactions at the same time, thus avoiding mistakes due to tiredness and repetitiveness.

CBIfast’s bulk bank transfer system is compatible with any bank and requires only two steps:

1. Enter your banking details
2. Upload an Excel file (you can create it with our template)

The control key is a unique code linked to your current account. This code is not publicly available and must be requested by the account holder directly to their bank.

NB: your bank’s first level help desk might not have the necessary authorizations to provide you with the control key. Should this be the case, please ask to be put into contact with authorized personnel.

With CBIfast you can send all the bulk wire transfers you need at the same time, saving you some precious time.

To make bulk transfers using an Excel file, just follow the following steps:

1. Set the payer.
2. Fill in the Excel file with the details of your transfers (you can use our pre-made template).
3. Upload the Excel file in CBIfast.
4. Click the “Generate XML” button
5. Upload the XML file to your home banking website.

NB: before uploading the Excel file, please check that these items are in the correct order:

1. Account holder
2. IBAN
3. Reason / Description of the transaction
4. Amount

You can also download our pre-made template to help you in the process.

The CUC code is a unique 8-digit code linked to your bank account. To have access to it, the account holder must request it directly to their bank.

NB: your bank’s first level help desk might not have the necessary authorizations to provide you with the CUC code. Should this be the case, please ask to be put into contact with authorized personnel.

CBIfast does not save any data used to generate the bank transfer list, it only keeps track of the number of credit transfers generated.

CBIfast handles your information with the utmost confidentiality.

CBIfast does not use your data for advertising purposes or disclose them to third parties.

Our customer is not a product, CBIfast is: this is why we ask for a small contribution if you find it useful.