What are the Bank Deposit requirements in Germany?

When sending a transaction, we’ll ask you information about your contact and their bank account. Make sure to enter all information carefully to avoid delays. Here’s what you’ll need to know:

• Bank name
• The correct IBAN and BIC/SWIFT codes
• The entire name of your contact as it appears on their bank account
• A valid phone number from your contact (city code + domestic number)
• We may ask for your contact's mailing address if required by our payment partner

Bank transfers to most major banks are deposited in 2-3 business days. However, each bank operates differently and may have additional rules and regulations regarding deposits that could add additional transfer time. Please ask your contact to check with their bank for more details.

What are the characteristics of an IBAN & BIC number in Germany?

IBAN stands for the International Bank Account Number and is used by banks in European countries for international funds transfers. The IBAN is a unique code that identifies a beneficiary’s bank account. The German IBAN code consists a country code followed by twenty alphanumeric characters.

In Germany, IBAN codes start with the letters DE, followed by 2 digit control number, an 8 digit bank code and a 10 digit account number. Here is an example:  

DE89     3704     0044     0532     0130     00

Where:
DE: Country Code

89: Control number

37040044: Bank Code

0532013000: Account Number

A BIC/SWFIT is a unique identifier code for a particular bank. The BIC consists of either eight or eleven characters, including 4 letters identifying the bank, a 2 letter country code, 2 alphanumeric characters identifying the location of the bank, and sometimes 3 alphanumeric characters identifying a specific branch of the bank.

For example, Deutsche Bank in Frankfurt, Germany, uses this BIC:

DEUTDEFFVIT

DEUT: Deutsche Bank
DE: Germany
FF: Frankfurt
VIT: Branch code