I read on [moneytransfers.com](https://moneytransfers.com/guides/sepa-transfers#:%7E:text=Moreover%2C%20SEPA%20transfers%20involve%20no,IBAN%20to%20make%20the%20transfer) ([mirror](https://web.archive.org/web/20201223055935/https://moneytransfers.com/guides/sepa-transfers)):

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> SEPA transfers involve no or minimal fees, while SWIFT transfers may cost anywhere between $15 and $45.
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Why do SEPA transfers involve no or minimal fees, while SWIFT transfers may cost anywhere between $15 and $45?