Reachability

The property that decides whether a payment on a given scheme can be made to an account at all.

An account is reachable for a SEPA credit transfer when it is held at a payment service provider that has formally adhered to the SEPA Credit Transfer scheme, and that provider is established within the scheme's jurisdictional scope.

Three consequences catch people out. Holding euro is not enough. Having an IBAN is not enough. And adherence is a decision by each individual institution, not by a country on its institutions' behalf.

This is the reason a European customer's transfer to an Egyptian bank fails with a message about the beneficiary not being reachable. There was no participating institution at the other end.