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The inclusion of financial institutions from these two states is a natural extension of the SEPA project and demonstrates the European willingness to harmonise electronic payments in a broader area than the European Union.
From that date onwards, all existing EPC scheme participants should be able to send or to receive SEPA Credit Transfer (SCT), SEPA Instant Credit Transfer (SCT Inst) and SEPA Direct Debit (SDD) transactions to and from SCT, SCT Inst and SDD scheme participants from the Principality of Andorra and the Vatican City State / the Holy See as and when their financial institutions join these schemes.
As of 1 March 2019, the geographical scope of the SEPA schemes will consist of the following 36 countries: the 28 Member States plus Iceland, Norway, Liechtenstein, Switzerland, Monaco, San Marino, the Principality of Andorra and the Vatican City State / the Holy See.