For many Indian freelancers and agencies, Europe is now a dependable and high paying market. You might code for a client in Berlin, write for a startup in Amsterdam or manage campaigns for a company in Paris. But the excitement of onboarding a European client often fades when it is time to share your payment details. Suddenly you are asked for an IBAN, a BIC, a SEPA transfer option or some long format account code that your Indian bank has never heard of.

Europe does not operate on the same banking system as India. While India uses regular account numbers and IFSC codes, Europe functions on a harmonised network of identifiers and payment rails that are designed for fast, local and low cost euro transfers. Understanding these systems is essential because it affects how quickly you get paid, how much you receive after fees and how professional you look in front of clients who are used to SEPA efficiency.

This guide walks you through IBAN, BIC and SEPA in a connected, easy to read way so you can avoid delays, avoid unnecessary deductions and give your clients the right information the first time.

What IBAN Really Is and Why Europe Uses It

The IBAN, or International Bank Account Number, is Europe’s universal format for identifying bank accounts. It was created to remove confusion between countries that used different account styles. Every IBAN begins with a country code, followed by two check digits, and then a long string that includes the bank, the branch and the account itself.

An Irish IBAN looks like this: IE64BOFI90583812345678

A German IBAN looks different, a French IBAN looks different, but they all follow one consistent structure. This standardisation is what makes European transfers incredibly reliable. As long as the IBAN is correct, banks rarely misroute payments.

Indian accounts do not use IBANs. So when a European client asks you for your IBAN, what they actually need is either your euro virtual account’s IBAN (if you have one from a platform like BriskPe) or your regular Indian account number and SWIFT code if the payment is coming through the international rail.

Understanding BIC and SWIFT Codes

The BIC, known globally as the SWIFT code, identifies banks across countries. When money is sent from Europe to India, your client’s bank uses SWIFT to move the funds. This network relies on intermediary banks, which explains why some payments arrive short of a few euros. These deductions come from multiple banks taking their own processing cuts.

The SWIFT code is essential for receiving payments into an Indian bank account. Without it, your invoice cannot be processed. This is the main difference between SEPA and SWIFT. SEPA is direct, fast and local within Europe, while SWIFT is global but more expensive and slower.

SEPA Transfers: The Backbone of Europe’s Payment System

SEPA stands for Single Euro Payments Area. Launched in 2008, it covers a network of 40 countries including the entire European Union, the UK, Norway, Switzerland and several non EU regions. SEPA was created so that sending euros from Madrid to Munich would feel exactly the same as making a domestic transfer within Spain.

Every SEPA payment follows one structure, one message format and one processing rulebook. This is why your German client can initiate a euro transfer on a Monday morning and expect it to reach a French account by the afternoon.

There are different SEPA rails. The regular SEPA Credit Transfer clears within one business day. SEPA Instant settles in 10 seconds at any time of the day. SEPA Direct Debit is used for subscriptions and recurring payments where businesses pull money directly from customers.

For freelancers and agencies working with European clients, SEPA Credit Transfer is the method that matters most.

SEPA vs SWIFT: What Freelancers Actually Experience

A SEPA transfer is what your European client is used to. It is cheap, predictable and designed for effortless euro payments. Inside Europe, it usually costs the client nothing and reaches the recipient in a matter of hours or a day.

A SWIFT transfer, on the other hand, is what your Indian bank uses to receive those euros. It is not instant, it can take several days and it passes through multiple banks. Each bank may deduct a fee, and your Indian bank applies its own inward remittance fee and a forex markup when converting euros to rupees. A payment of 2,000 euros may finally reach you as 1,930 euros or less after all deductions.

This difference explains why freelancers who work regularly with European clients often look for ways to get paid through SEPA rather than SWIFT.

When Freelancers Need IBAN, BIC or SWIFT

You will need an IBAN only if you have access to a European bank account or a virtual euro account issued by a global payment platform. Clients expect this because it allows them to use their local, low cost SEPA network.

You will need a SWIFT code whenever a client pays you directly into your Indian account. This code guides the payment through the global routing system.

Sometimes European banks ask for both IBAN and BIC, especially for certain systems that still verify the receiving bank through a BIC lookup.

You never need these codes when receiving payments in USD, GBP or AED. Those currencies use domestic systems such as ACH in the United States, Faster Payments in the UK and IFT in the UAE.

Why Local Details Matter for Your Income

Currency routing plays a bigger role in your earnings than most freelancers realise. If a French client pays you in USD or if a German client pays your Indian account in euros, both banks convert currencies at stages you cannot control. You pay twice on the spread, and the final amount is usually much lower.

On the other hand, if you can give your European client a local euro IBAN, they pay you through SEPA at almost zero cost. You then convert euros to INR yourself at a rate you choose.

This single change can increase your annual earnings by a significant margin without raising your prices.

Getting Paid Smoothly with BRISKPE

If your clients are in Europe and you want to avoid expensive SWIFT transfers, BRISKPE gives you a simple way to receive euro payments like a local. You get your own Euro IBAN, so your clients can pay through the SEPA network using their regular banking app. That means no hidden deductions, no intermediary charges and no surprise shortfalls.

BRISKPE also gives you US routing details and a UK sort code for clients in those regions. When the funds reach your BRISKPE wallet, you transfer them to your Indian account at live market rates without markup. Pricing is equally easy to understand. 

Payments up to 2000 dollars cost $16. Payments from $2001 to $10000 cost $25. Anything above that is charged at 0.25 percent. Each payment automatically generates an e FIRA to support your GST and income tax records.

European clients get to pay you in the simplest way they know, and you get complete transparency and higher take home earnings. Explore BRISKPE.com now!