SEPA Fees
The changeover to SEPA payments is free of charge for consumers. In the course of the changeover, account numbers and bank codes will automatically be converted to BIC and IBAN. Stored standing orders will also be automatically adjusted. Only the basic account maintenance fees will continue to be due if the house bank assesses them. The costs for the intra-German SEPA transfer depends on the account model. Since the SEPA credit transfer may not cost more than a domestic credit transfer, its fees may not exceed the transfer fees paid to date. However, additional charges may apply in the event of a returned direct debit.
Fees for foreign transfers are the same as before
Fees for cross-border credit transfers will continue to apply, but again, the SEPA credit transfer may not cost more than an ordinary domestic credit transfer. Fees for currency conversion must be paid if the recipient or ordering party account is not in euros. Depending on the payment option, the ordering party or the payee must then pay the fees due. In the case of SHARE payment, the charges are shared, in the case of OUR payment they are borne by the ordering party, and in the case of BEN payment the payee is obliged to pay the charges. If the payer does not know the IBAN and BIC of the payee, he/she can specify the foreign national account number and the corresponding bank code for transfers. In this case, the transfer is generally possible, but it may be associated with enormous fees.
