SEPA is a Single Euro Payments area used in the EU and several other non-eu countries (Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino and Switzerland). Valyuz is a member of the STEP2 central system through the Bank of Lithuania. Within the SEPA area, all payments take place only in euro currency and only between countries belonging to this payment area. According to SEPA requirements, it is necessary to specify the account in a special IBAN format, which consists of a 2-digit country code and a 2-digit checksum to ensure the consistency of the code, and account number in the financial institution. It is important to note that if a SWIFT payment will be sent to a dedicated SEPA IBAN, it will bounce back as the sender‘s bank or their correspondent bank will reject it.