International payments to Eastern Europe: processing times explained

Find out why some payments to Eastern Europe take seconds and others take days.

International payments to and from Eastern Europe have become faster, more accessible and important as the region strengthens its role in global trade and investment.

Whether it’s businesses paying suppliers, receiving customer payments or expanding into new markets. Or individuals shopping online or sending money to family abroad, understanding how international transfers work is essential.

This article explains how international payments to and from Eastern Europe work, the factors that influence transfer times and costs, and the practical steps businesses can take to make cross-border payments faster, more secure and cost-effective.

Which countries make up Eastern Europe?

How long do euro-denominated payments and those within the SEPA region take?

How long do non-euro-denominated payments within the SEPA region take?

How long do international payments outside the SEPA region take?

What characterises payments in Eastern Europe?

How can Inpay move money faster to and from Eastern Europe and beyond?

Which countries make up Eastern Europe?

There’s no consensus on which countries make up Eastern Europe. Sometimes known as Central and Eastern Europe, it includes Poland, Czechia, Slovakia, Hungary and Romania. Frequently, Moldova, Ukraine and Belarus to the east are also included. Sometimes Bulgaria and the Balkan states to the south. Other times the Baltic states of Lithuania, Latvia and Estonia to the north-east.

Culturally, the region is defined by Slavic traditions and the influence of Eastern Christianity. During the Cold War, the region was defined ideologically as its make-up corresponded to the Eastern bloc, communist states under the influence of the former Soviet Union.

Politically and economically today, Eastern European countries range from:

• EU member states with the euro as its currency e.g. Bulgaria, Croatia, Estonia, Latvia, Lithuania, Slovakia, Slovenia.
• EU member states with a currency other than the euro e.g. Czechia, Hungary, Poland, Romania.
• Non-EU countries within the SEPA region e.g. Moldova.
• Non-EU, non-SEPA countries e.g. Ukraine, Belarus.

How long do euro-denominated payments and those within the SEPA region take?

SEPA stands for single euro payments area. The aim of SEPA is to make paying and getting paid across national borders within the SEPA zone quicker, easier and cheaper. The political and economic goal is to create a single market for payments.

Euro-denominated payments via a bank within the 41 countries of the SEPA region take anything from 10 seconds to one business day. This depends on whether the payment is made via the SEPA Instant Credit Transfer or SEPA Credit Transfer system.

The European Central Bank mandates that banks cannot charge more for a euro-denominated cross-border SEPA transfer than they do for a domestic euro-denominated transfer. Generally, credit transfers in euros are free or cost around €0.20.

How long do local currency-denominated payments within the SEPA region take?

Cross-border payments denominated in local currencies between banks within the SEPA region can take between one and five business days. This depends on whether the payment is made via a SEPA scheme, international correspondent banking rails via Swift or alternative providers.

It can cost between €0.60 and c. €15-30 as a transaction fee, depending on the payment method. Some banks may also add a mark-up on the exchange rate for the currency conversion.

How long do international payments outside the SEPA region take?

Cross-border payments to and from Eastern Europe to the rest of world can take up to five business days using the Swift correspondent banking network.

It can cost around €30, excluding the mark-up on the exchange rate. That’s because the equality of charge for euro transactions does not apply to non-SEPA scheme payments outside the remit of the European Central Bank.

What characterises payments in Eastern Europe?

Below is an introduction to the shopping, banking and payments habits of consumers and businesses in five Easten European countries:

Czechia | Hungary | Poland | Romania | Slovakia

Czechia

GDP: $433 billion

Ecommerce % of total retail: 16%

% of online shoppers: 54%

% of adults with financial accounts: 92%

With a population of around 10.5 million, Czechs, alongside their Slovak neighbours, are the most likely in the region to have a bank account (92% of the population).

Online shopping is well established. According to the Czech Association for Electronic Commerce, the ecommerce market was worth $8 billion in 2022. Interest in cross-border ecommerce is driven principally by lower prices and better product availability, with Germany and China being the most popular cross-border markets, followed by other EU countries and the US.

In the B2C online space, card payments are growing steadily, although bank transfers and ‘buy now, pay later’ options are also popular. For businesses, bank transfers are the dominant method for B2B payments, supported by a mature banking infrastructure and fast domestic payment services.

Hungary

GDP: $271 billion

Ecommerce % of total retail: c 9%

% of online shoppers: 82%

% of adults with financial accounts: 87%

Average cost of €140 remittance to Hungary from Austria (4.42%), Germany (7.18%), CHF160 from Switzerland (3.81%), Source: World Bank Remittance Prices, Q3 2025

87% of Hungarians have access to a financial account, a high figure compared to the regional average. A similar proportion (82%) shop online.

Ecommerce makes up 9% of total retail, with shoppers claiming they prefer to buy from Hungarian webshops. Cross-border ecommerce is only considered an advantage to 1-in-4 shoppers.

Launched in 2020, Hungary’s real-time payment system has encouraged account-to-account transfers for both C2B and B2B transactions. Electronic invoicing is widely used, especially following regulatory initiatives to digitize invoicing and tax reporting.

Poland

GDP: $1.1 trillion

Ecommerce % of total retail: 8-10%

% of online shoppers: 78%

% of adults with financial accounts: 86%

Made or received a digital payment % of adults: 82%

Average cost of £120 remittance to Poland from UK is 2.66%, Source: World Bank Remittance Prices, Q3 2025

Poland is the most populous country in Eastern Europe with around 37.8 million inhabitants. The banked and online shopping population is also high, compared to its neighbours.

A thriving banking sector of nearly 30 commercial banks and appetite for alternative payment methods, e.g. BLIK, an instant A2A payment type, make bank transfers popular. For businesses, banks transfers remain the default B2B payment method.

Romania

GDP: $480 billion

Ecommerce % of total retail: 13%

% of online shoppers: 55-60%

% of adults with financial accounts: 71%

Made or received a digital payment % of adults: 64%

Average cost of €140 remittances to Romania from Germany (3.20%), Italy (4.77%), £120 from UK (3.12%), Source: World Bank Remittance Prices, Q3 2025

71% of Romanians have access to a financial account, a lower figure compared to the regional average. Greater adoption of card payments and bank transfers is driving ecommerce in Romania, making it the third largest ecommerce market in Eastern Europe after Poland and Czechia.

Romania launched instant payments (Plǎți Instant) in April 2019. Bank transfers are the preferred method for B2B payments.

Slovakia

GDP: $169 billion

Ecommerce % of total retail: 15-17%

% of online shoppers: 80%

% of adults with financial accounts: 92%

Slovakia is one of the smaller countries in Eastern Europe with around 5.5 million inhabitants. Yet 92% of people have access to a financial account and a healthy proportion (80%) shop online.

Slovakia has a mature and increasingly digital payments market. Use of debit and credit cards for everyday purchases is widespread. Mobile wallets such as Apple Pay and Google Pay are popular, particularly among younger consumers. Online shopping is well established, with card payments and bank transfers being the preferred way to pay.

Bank transfers are the dominant payment method for B2B transactions, owing to Slovakia’s adoption of the euro and its participation in SEPA payment schemes. Electronic invoicing and automated payment processing are also becoming more common.