1

A customer of mine wants to pay me from the usa to my account with N26 bank.N26 Bank is a German online bank with no branches but available to customers in the euro-zone.I opened my account online in Portugal.When my customer made the transfer and sent me the slip,i discovered the beneficiary name was completely wrong but the Iban and Swift was correct.Will the wire transfer go through with correct Iban and Swift but incorrect beneficiary name?

2

In my experience with German banks, most probably yes.
(I successfully receive payments on an account in my name [more or less mistakenly] giving my business description* without my name, I've successfully paid lots of invoices by transfer where the account holder name was not that clear in a similar fashion.

They used to check the name tightly in the past, but this is not mandatory any more with the SEPA payments. AFAIK the checksum parts of BIC/SWIFT and IBAN take the role.


* For certain types of business in Germany, the name is name of the owner plus short description of what the business is about. The bank account will then be on the owner's name without description (and the business is legally not separate from the owner).

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.