Vocabulary for International Transfers in Germany: SWIFT, SEPA, and What Your Bank Actually Asks

Expats move money internationally — to family, to maintain accounts in home countries, to pay for property abroad. Doing this from a German bank account involves navigating a system with specific vocabulary, different rules for eurozone versus non-eurozone transfers, and significant potential for unnecessary fees if you don't know the options.

Here is what the vocabulary means and how international transfers actually work from Germany.

The Two Systems

SEPA-Überweisung — a SEPA transfer. The Single Euro Payments Area system covers 36 countries (the EU plus some non-EU European countries including Switzerland, Norway, Iceland, Liechtenstein, and the UK for SEPA credit transfers). SEPA transfers in euros between accounts in SEPA countries are processed like domestic transfers: same fees, same timelines (usually 1 business day), no currency conversion.

SEPA-Echtzeitüberweisung / SEPA Instant Credit Transfer — a real-time SEPA transfer, processed in seconds, available 24/7. Some German banks offer this for free; others charge a small fee.

SWIFT-Überweisung / Auslandsüberweisung — an international transfer outside the SEPA system, or a SEPA transfer in non-euro currencies. Uses the SWIFT network (Society for Worldwide Interbank Financial Telecommunication). Slower (1–5 business days), more expensive, and involves currency conversion if sending in a foreign currency.

IBAN — required for all SEPA transfers.

BIC / SWIFT-Code — the bank identifier code, required for international transfers outside SEPA, and sometimes still requested even for SEPA transfers (technically not needed for domestic SEPA since 2016, but banks still ask for it).

Currency and Costs

Wechselkurs — exchange rate.

Devisenkurs — foreign exchange rate as applied by a bank or currency provider.

Gebühren / Transfergebühren — transfer fees.

Entgelt — charges; on a Preisliste (fee schedule), each bank's transfer fees are listed as Entgelt.

OUR / SHA / BEN — cost allocation options for international transfers:

• OUR — all fees paid by the sender; the recipient receives the full amount
• SHA — shared; sender pays outgoing fees, recipient may pay incoming fees
• BEN — fees paid by the beneficiary / recipient; the recipient pays all fees

German banks typically default to SHA. If you want the recipient to receive exactly the amount you intend, choose OUR — but understand it costs more.

Korrespondenzbank / Zwischenbank — a correspondent bank. Many international transfers route through one or more intermediate banks, each of which may deduct fees (Korrespondenzgebühren). These can be unpredictable; they come out of the transfer amount unless you've paid OUR.

Mittlerer Devisenkurs — mid-market exchange rate. The rate you see on Google or XE.com. This is not the rate banks offer — banks typically apply a spread of 1.5–4% above the mid-market rate. Knowing this is the basis for comparing banks versus alternative providers.

The Bank's Vocabulary

When you initiate an international transfer online or in branch, expect to provide:

Empfänger — recipient.

Empfängerbank — recipient's bank.

IBAN des Empfängers — recipient's IBAN.

BIC / SWIFT-Code der Empfängerbank — recipient bank's BIC/SWIFT code.

Verwendungszweck — payment reference / purpose. Required for all German transfers; keep it short and clear.

Währung — currency.

Betrag — amount.

Auftraggeberwährung / Empfängerwährung — payer's currency / recipient's currency. You choose which currency the conversion happens in; this affects who bears the exchange rate.

Überweisungsauftrag — a transfer instruction.

Alternative Providers

German banks are often the most expensive option for international transfers. The alternatives have their own vocabulary:

Direktbank — an online-only bank (e.g., ING, DKB, N26) that typically charges lower transfer fees than traditional Filialbanken (branch banks).

Zahlungsdienstleister — payment service provider. Regulated alternatives to banks for money transfer, such as Wise (formerly TransferWise), Revolut, or Western Union. These often apply mid-market exchange rates and lower fees for international transfers. Regulated under the Zahlungsdiensteaufsichtsgesetz (ZAG) in Germany.

Regulierter Anbieter — a regulated provider. Before using any transfer service, verify they are licensed by BaFin (the German financial regulator) or another EU financial authority.

BaFin — Bundesanstalt für Finanzdienstleistungsaufsicht. Germany's financial regulatory authority. Authorises and supervises banks, payment providers, and investment firms in Germany.

Maximalbetrag — the maximum transfer limit per transaction or per day. Traditional banks often set this; online providers sometimes have higher limits.

Practical Advice

For regular transfers of significant amounts (e.g., monthly support payments to family, or maintaining a foreign mortgage), the cumulative difference between bank exchange rates and mid-market providers can be substantial over a year. Calculate it once and decide whether the convenience of your Hausbank outweighs the cost.

For urgent large transfers, always check the processing timeline (Buchungsdatum) — particularly around weekends and public holidays (Feiertage).

International transfers connect your German financial life to your wider world. Understanding the vocabulary and the system ensures the money actually arrives where you intend it to, in the amount you intend.

International transfers from Germany have a specific vocabulary and specific costs. Vokabulo helps you understand exactly what your bank is asking before you click confirm. Available on iPhone and iPad.