Money transfers in Germany and SEPA: IBAN, timing, fees, and security

A bank transfer in Germany is called an Überweisung. For everyday payments, the most common option is a SEPA transfer in euros: money is sent from a Girokonto current account to the recipient’s account using the IBAN. For urgent payments, Echtzeitüberweisung is available, an instant SEPA transfer that is usually credited within a few seconds.

The main things you should prepare before making a transfer:

1. The recipient’s IBAN.
2. The recipient’s name or company name exactly as shown on the invoice.
3. The payment amount and currency.
4. The payment reference: invoice number, contract number, customer number, or billing period.
5. BIC/SWIFT, if the bank requests it for a specific international or non-euro transfer.

The SEPA transfer remains one of the basic payment methods in Germany, but the rules differ depending on the currency, the recipient’s country, the account tariff, and how the order is submitted.

IBAN, BIC, account number, and BLZ

IBAN is the international bank account number. For a standard transfer in Germany and for most SEPA payments in euros, the IBAN is the key detail.

BIC or SWIFT code identifies the bank in the international payment system. Within Germany and for most SEPA transfers, customers usually do not need it, but the BIC field may appear for certain transfers outside the EEA, for international payments outside SEPA, or for transfers not made in euros.

Older German banking details, Kontonummer and Bankleitzahl (BLZ), are hardly ever used separately in customer forms anymore. They still exist inside the banking system: a German IBAN consists of the country code DE, two check digits, the eight-digit BLZ, and the ten-digit account number. If the old account number has fewer than ten digits, zeros are usually added on the left when the IBAN is formed.

If someone gives you only a Kontonummer and BLZ, do not try to build the IBAN yourself by guessing. It is better to use the bank’s IBAN calculator or ask the recipient for updated banking details, because special conversion rules are possible after bank mergers and account migrations.

Types of transfers

Payment type	When it is used	What is usually needed
SEPA-Überweisung	One-time transfer in euros within Germany or the SEPA area	IBAN, recipient name, amount, Verwendungszweck
Echtzeitüberweisung	Urgent transfer in euros when the money should arrive almost immediately	IBAN, recipient name, amount; the bank must support instant payments
Dauerauftrag	Regular automatic transfer of a fixed amount	IBAN, amount, date, and frequency
SEPA-Lastschrift	The recipient debits money with your authorization	SEPA mandate and account details
Auslandsüberweisung	Transfer outside SEPA or in another currency	IBAN or account number, BIC/SWIFT, recipient details, sometimes address and payment purpose

SEPA is the single euro payments area. It includes EU countries as well as a number of European countries and territories outside the EU. One important limitation is that a SEPA transfer is executed specifically in euros. If the payment is made in another currency, it becomes an international transfer with different timing, fees, and exchange rates.

SEPA within Germany and Europe

For a euro transfer within Germany, the EU, and the EEA, the bank must not make that payment more expensive than a comparable domestic transfer. In practice, however, the final price still depends on your account tariff: online transfers are often included in the package, while paper orders or transactions handled by a bank employee may cost extra.

If you have an account in another SEPA country, a German company must not refuse it just because the IBAN does not start with DE. This is called IBAN discrimination. To pay rent, insurance, an internet contract, or a subscription, it is usually enough that the recipient accepts SEPA-Überweisung or SEPA-Lastschrift.

For SEPA countries outside the EEA, some banks may still request the BIC. That is why it is better to copy banking details in full from invoices, contracts, and letters from organizations instead of dropping fields that seem unnecessary.

How to fill in a transfer

In online banking and mobile apps, the fields usually look similar:

• Empfänger: the person’s name or the organization’s name.
• IBAN: the recipient’s account number.
• Betrag: the amount.
• Verwendungszweck: the payment reference.
• BIC/SWIFT: not always shown.
• Ausführungstermin: the execution date, if the transfer should not be made today.

The Verwendungszweck field is worth filling in even when the bank does not make it mandatory. Include the invoice number, Kundennummer, Rechnungsnummer, rental period, contract number, or policy number. Recipients often reconcile payments using this field, not just the amount.

In 2026, the recipient’s name became more important than before: banks in the EEA use recipient verification (Empfängerüberprüfung, Verification of Payee) for SEPA transfers. Before sending, the bank compares the entered name with the IBAN and shows a warning if the data differs noticeably. For companies, authorities, landlords, and insurers, it is better to copy the name from the invoice without making your own abbreviations.

Settlement times

Type of transfer	Usual benchmark	What affects the timing
SEPA online transfer	Up to 1 bank business day after the bank accepts the order	Cut-off time, weekends, and bank holidays
SEPA transfer on a paper form	Up to 2 bank business days	Branch processing and the bank’s tariff
Echtzeitüberweisung	Usually up to 10 seconds, 24/7	Instant payment support by both banks, limits, and security checks
International transfer outside SEPA or not in euros	Several business days, sometimes longer	Currency, intermediary banks, sanctions checks, and compliance reviews

For a standard SEPA transfer, the cut-off time matters. This is the internal time until which the bank accepts orders for processing on the same business day. If you send a payment after that time, counting may begin only on the next bank business day. That is why a transfer created on Friday evening is often actually processed on Monday.

Instant SEPA transfers work around the clock throughout the year, but the bank may set limits, apply additional checks, or temporarily not offer instant payment for a particular transaction.

Fees and limits

Within SEPA, the cost of a transfer depends primarily on your account tariff and the submission channel. Check the bank’s Preis- und Leistungsverzeichnis, especially if:

• the transfer is submitted on a paper form;
• a bank employee enters the order for you;
• the amount is large and may fall under a separate limit;
• the payment goes outside SEPA or is not in euros;
• currency conversion is required;
• intermediary bank fees may apply.

For an instant euro transfer, the bank must not charge more than for a comparable standard SEPA transfer. If a regular online SEPA transfer is free under your tariff, an instant transfer of the same type must not become a separate expensive service just because it is faster.

Security: what to check before sending

Before confirming the transfer, check:

• the IBAN for missing or extra characters;
• the recipient’s name and any Empfängerüberprüfung warning;
• the amount, especially the separator between euros and cents;
• the payment reference;
• the execution date;
• the fee and exchange rate, if the transfer is international;
• the limit for standard and instant transfers.

Transfer confirmation should take place only in the bank’s official app or online banking: pushTAN, photoTAN, chipTAN, PIN, biometrics, or another method used by your bank. It is better not to open messages with links about “confirming a transfer,” “unlocking a payment,” or “verifying the recipient” in SMS, email, or messengers.

If a transfer was sent with an error

If you notice an error in the IBAN, amount, or recipient, contact the bank immediately. While the order has not yet been executed, it can sometimes be canceled. After the money is credited, getting it back is more difficult: the bank may help with a recall request, but it cannot always debit the money back without the recipient’s consent. With an Echtzeitüberweisung, there is almost no time to stop it, so checking everything before sending is especially important.

Common mistakes

• Sending a payment using old Konto and BLZ details without checking the IBAN.
• Leaving Verwendungszweck blank when paying invoices, rent, or contract-related bills.
• Ignoring a warning about a mismatch between the name and the IBAN.
• Assuming that any European transfer is automatically SEPA: the currency must be euros, and the country and bank must participate in the scheme.
• Comparing only the bank’s fee and forgetting about the exchange rate and intermediaries for transfers outside SEPA.
• Confirming transactions through links in messages instead of through the bank’s official interface.