Bankverbindung

Bankverbindung is the set of information that identifies a bank account for transactions. In German usage, it typically comprises the IBAN, the BIC (SWIFT code), the account holder's name, the bank's name, and occasionally a payment reference (Verwendungszweck). The IBAN is the standardized international account number; the BIC identifies the bank internationally. Within SEPA, euro transfers can be completed using IBAN, with BIC often optional for domestic payments but used for cross-border transfers.

Use: It is supplied to recipients to enable transfers, to employers for salary payments, to landlords, service providers, or merchants when requesting direct debits or payments. For a transfer, the sender uses the recipient's Bankverbindung; the payment instruction requires correct IBAN (and sometimes a reference) to ensure proper credit.

Privacy and security: Bankverbindung is personal data protected under data protection laws such as the GDPR in the EU. It should be shared only through secure channels with trusted entities. Phishing and social engineering scams may attempt to obtain Bankverbindung data, so verify requests.

Data quality and processing: Accuracy is important; incorrect IBANs can result in delayed or misrouted payments. Banks and payment service providers keep records of Bankverbindung and use it to route funds, verify identities, and comply with anti-money-laundering rules.

In summary, Bankverbindung refers to the collection of bank account details used to receive or send payments, most commonly in Germany and other German-speaking regions, and is governed by international standards (IBAN, BIC) and regional regulations.