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What is RFB Transfer? What does it mean when using SEPA?

What is RFB Transfer? What does it mean when using SEPA?

17 Jun 2022

In this modern era, advanced inventions in the banking industry have helped customers with multiple facilities by providing faster ways for banking across the world. For instance, people can swiftly send money online from one country to another within just a few clicks.

Unquestionably, you may have heard about RFB Transfers, but what is RFB, and how is it connected to SEPA? This Blog is the right place for you to know about RFB Transfers.

You will get the answers to crucial questions about RFB transfer, such as; What is RFB transfer; How does it work and its connection with the SEPA protocol; Use of RFB in the banking world; and how RFB transfers help migrants send money to their home country. 

What is an RFB bank transfer?

RFB stands for “Reference for Beneficiary”, an international payment method that allows the automatic transfer of funds between bank accounts. It is a replaceable method from the traditional SWIFT method of the transfer system offered by banks in a few European Union Countries. RFB Transfer is an easy way to transfer money from European Union to other countries – it’s one of the quickest, cheapest, and safest ways to induce your money from one Eurozone country to another.

For example, if you want to perform an online money transfer from European Union Countries & you want it fast, easy & secure, RFB is an excellent solution for you.

The service is only available to customers already using the SEPA (Single Euro Payment Area) transfer method. RFB allows for faster and more accurate payments within the European Union.

Ready to Discover why RFB Transfer is essential and to know what’s its relation to the SEPA protocol?

Let’s dive in!

The connection of RFB transfer is established through the SEPA (Single Euro Payment Area), a Pan-European system offering the customer to send and receive payment in Euros (€) between cross-border bank accounts. It is an easy method similar to RFB transfer, which allows an auto-generated payment between two international bank accounts. RFB is associated with the unstructured part of remittances. In other words, the ordering party may include references such as the invoice number of the beneficiary to whom the money will be sent.

It is as if the sender has put a tracking device for your funds and, to top it off, all for your benefit. All this information should be included in the remittance form so that the beneficiary can quickly locate the transferred payment. It is similar to when you pay a bill and add additional information such as the invoice number so that the receiver may be informed of the transfer.

But how is there a connection between RFB Transfer and SEPA?

SEPA and its connection to RFB

When you use SEPA, your account will be debited with the amount of money you want to wire, and the receiving party’s account will be credited with this same amount. This process can take anywhere from 1 to 3 days to complete, depending on which union member state you send funds to.

But the RFB Transfer fun does not just stop there!

RFB can be used in various banking transfer methods. Some of them are as follows:

Importance of RFB in Wire Transfer

According to the Federal Reserve Board, under Section 601.0 under the title “Know Your Customer”, RFB Transfer, when the field “Remittance Information / Unstructured” is given only one line of payment details to be used with no more than 140 characters. Using the RFB system eliminates the sender from the worry of jotting down a lot of information into the data required field, making it an easier and more convenient way to transfer money.


RFB in SWIFT (Society of Worldwide Interbank Financial Telecommunication) specifies two things; either the informative details of the individual transaction or backing to another message containing the information to be transferred to the beneficiary customer’s account. Codes are used to indicate the usage of this system.

Use of RFB in the world

It is a known fact that the EU (European Union) is the main trading partner to many parts of the world, accounting for 90% of the trading, which allows many individuals and businesses to use a transferring method from European countries to send money to their home countries. Since the SEPA transfer is the safest way for Europeans to transfer money around the world when trading, RFB incorporated the SEPA protocol for the European customers for a secure transfer and to add to that the quickest. RFB transfers make it easy for the sender and the receiver to transfer funds with less information to be disclosed on the line. The only thing required is the beneficiary’s invoice number that the bank assigns. Isn’t it easy? 

RFB Transfers have made it easy for customers to send money from European countries due to its linkage with the SEPA protocol via auto-generated codes that do the job swiftly with the snap of a finger. RFB has also made it safer for remittance from mobile apps such as ACE Money Transfer, in which the remitter has all the information about the transfer they make and its placement with the receiver.



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