Card is central to consumer payments in Spain, and Bizum is rapidly absorbing the mobile simple-payment segment, but bank transfer is still used for high-value transactions above card limits and for business-to-business (B2B) payments. As a eurozone country, Spain runs both standard SEPA transfers and instant transfers (SCT Inst), so its euro transfer infrastructure is among the most developed in Europe.

Bank transfer acceptance makes sense for businesses dealing with amounts that don't suit card payment, such as high-value commerce in furniture and electronics, travel and education services structured around deposits and balance payments, and B2B receivables for Korean exporters. For general consumer simple-payment use, however, the experience is heavier than Bizum or card, so it should be designed as a supplementary route rather than a primary method.

After placing an order, the customer executes a SEPA transfer (or instant transfer) to the account provided, and this is a prepayment flow in which the order is confirmed once the deposit is confirmed. Unlike card, there is no chargeback, but matching deposits and managing unpaid orders become the key operational points. Hecto Financial collects the deposited euros (EUR), converts them, and settles them with the Korean merchant.

Through Hecto Financial, a Korean corporation can consider a SEPA transfer collection structure without opening a local Spanish account. Because this method involves operational requirements such as deposit matching and unpaid-order handling, please confirm the scope of support and terms (settlement cycle, fees, currency options) with the sales team before contracting.

• Business registration country

  Confirm contract eligibility based on domestic business registration

• Sales channels

  The integration approach and priority differ depending on your online sales channel mix, such as your own site, open marketplaces, and mobile apps

• Product categories

  Check in advance whether your category falls under restricted industries per the bank transfer operator's merchant policy

• EU regulatory compliance

  Confirm compliance with EU payment regulations such as PSD2 and SEPA (see official sources below)

Hecto Financial collects the euros (EUR) received via transfer locally, converts them, and the Korean merchant is settled in whichever currency — USD, KRW, or JPY — was set in the contract. Because the consumer sends the payment first, non-payment risk is low with bank transfer, but refunds require executing a separate reverse transfer, so you should define your refund handling process in advance, including how you address the EU's 14-day right of withdrawal.

• Banco de EspañaOfficial information on Spain's payment system and related regulations. Where this page differs from actual regulations, the official source takes precedence.