SEPAGA

SEPAGA is a Cyprus-based electronic money institution, SEPAGA E.M.I. Ltd (company number HE347331), authorised by the Central Bank of Cyprus under licence 115.1.3.18/2018. It opens both corporate and personal e-wallet accounts for holding electronic money and sending transfers.

Business wallet For companies, SEPAGA states that it provides IBAN accounts, mass payouts and transfers over SWIFT and SEPA. Payment channels listed are SWIFT, SEPA and SEPA Instant, so euro payments can move quickly inside the European area, while SWIFT covers international transfers.

Services The services named are a business e-wallet, a personal e-wallet, mass payments and international transfers. Mass payments suit businesses that pay many contractors, partners or customers at once, for example marketplaces and platforms.

What to clarify Fees, limits, supported currencies and onboarding documents are not in the available facts. Prospective clients should ask which business activities are accepted and how mass payouts are priced.

Who it suits European companies and freelancers that need an e-money account with an IBAN and that run frequent outgoing payments, as well as businesses that prefer a Cypriot EMI to a traditional bank for settlement operations.