The difference between SWIFT and SEPA is that SWIFT is a global international payment method, while SEPA is an European system, enabeling euro-denominated payments within the SEPA area.
The SEPA area covers the EEA states as well as Andorra, Guernsey, Isle of Man, Jersey, Monaco, San Marino, Saint-Pierre and Miquelon, Switzerland, the United Kingdom of Great Britain and Northern Ireland (incl. Gibraltar) and the Vatican City.
Chosing SWIFT or SEPA will depend on the transaction type, currency and locations.
BIC codes are used in international transactions to identify the recipient's bank, along with the recipient's account number, to ensure the funds are directed to the correct bank and account.
Instead, select: ‘Payment’ > enter the price > ‘Continue’, directly on the terminal.
Your customer can tap or insert their card, and the payment will land in your account within 3 business days.
If you prefer, you can use the Tide app to take a payment with your card reader, too.
In the app, tap: ‘Get paid’ > ‘Take a payment’ > enter the price > ‘Take a payment’.
After your customer taps or inserts their card in the terminal, the payment will land in your account within 3 business days.
