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SEPA is the European payment scheme for euro transfers, covering the EU and EEA plus a small number of adjacent countries. Augustus sends and receives EUR on two of its variants: SEPA Instant (SCT Inst) and standard SEPA Credit Transfer (SCT).

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What Augustus supports

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Sending EUR

Create a payout with currency: "EUR" and an iban counterparty financial address:
2026-05-01
POST /v1/payouts in the API Reference →

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Status and lifecycle

EUR payouts move through the standard payout statuses: initiated on creation, submitted when handed to the rail, sent when the payment settles, failed when it is rejected. SEPA Instant payments typically reach sent within seconds. If the beneficiary bank sends a settled payment back, for example because the account is closed, the payout moves to returned, payout.returned fires, and the funds are credited back to your account.

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Receiving EUR

Senders address your account with its IBAN, available on the account’s financial_addresses.
  • Incoming credits appear as deposits; the deposit’s rail says whether the payment came in over sepa_instant or sepa.
  • deposit.settled fires when the funds arrive.
  • The sender’s bank details are referenced through the deposit’s counterparty_id.
To send a received credit back, create a return with the deposit ID; see Returns. The sender’s side can ask for a settled payment back: the sender’s bank recalls duplicates, technical errors, and fraud cases, and the sender can request a return for mistakes of their own, for example a wrong amount or a wrong IBAN. The scheme gives the receiving side 15 banking business days to answer. Augustus contacts you before responding, and your account is not debited without your consent.

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On the 2023-01-01 API

SEPA also carries the legacy products: Open Banking payments and refunds use SEPA Instant where the payer’s bank supports it, with standard SEPA Credit Transfer as the fallback, and Manual Bank Transfer deposits arrive over either variant.