Bank Transfer

Cashless payment from account to account.

With a bank transfer, the payer instructs their bank to transfer an amount to another account. Once executed, it can hardly be recovered; however, in the case of an incorrect recipient IBAN, the bank must help with recovery.

The relevant statutes

§ 675f BGB

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Related terms

Direct Debit
Basic Account

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General explanation for self-help, not legal advice (RDG). Individual cases may differ: if in doubt, contact a consumer advice center or a lawyer.