This SWIFT/BIC code has been deleted from the network and is no longer valid. Do not send any funds to it unless you have an up-to-date confirmation from the beneficiary's bank!
Payment Instructions
General instructions for international payments to banks in GERMANY: Overview: Remitter should obtain all required bank information from the Beneficiary, such as SWIFT BIC, IBAN, and beneficiary bank address. For more information, visit www.bundesbank.de.
Country Requirements/Restrictions:
- Payment Restrictions: Payments exceeding EUR 12,500 between residents and non-residents must be reported to the central bank.
- Account Restrictions: Residents and non-residents can open and maintain accounts in local (EUR) and foreign currencies both locally and abroad. Account opening requires authorized signatures and company registration documents.
- SEPA: Strict SEPA guidelines apply for euro payments. IBAN and SWIFT BIC are essential for all euro transactions, especially for accounts in Germany.
Payment Formatting Rules for EUR:
- Ordering Customer (SWIFT MT103 F50): Include full account details, including the account number, full name (no initials), and address to avoid delays.
- Beneficiary Customer (SWIFT MT103 F59): Ensure to provide the IBAN, full name (no initials), and address of the beneficiary to prevent delays.
- Include IBAN numbers for beneficiaries with accounts in Germany in the payment instructions.
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with required branch identifier, full name, and address of the beneficiary bank. SWIFT BIC has 8 or 11 characters (e.g., xxxxDExx or xxxxDExxxxx). SWIFT BIC is essential for routing payments as there are no specific bank clearing codes for cross-border payments.
IBAN: In Germany, the IBAN consists of 22 characters. The structure is 'DE2!n8!n10!n'. An example is 'DE98765432198123456789'. The IBAN includes the country code 'DE', and a check digit followed by a bank sort code and account number.
Correspondent Banks
Standard Settlement Instructions (SSI) contain the list of correspondent banks of NET-M PRIVATBANK 1891 AG for each currency.
Payment Tracking
To track a SWIFT cross-border payment to or from NET-M PRIVATBANK 1891 AG, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.
Disclaimers
We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.