Deutsche Bundesbank collects foreign cheques for public adminstrations. In addition to the regulations in the General Terms and Conditions of the Deutsche Bundesbank for services more requirements apply.Conditions of the Deutsche Bundesbank for both services more requirements apply.
The validation of account numbers using the check-digit method promotes the smooth and automated settlement of payments. A transferring payment service provider or a first collecting institution must therefore check the accuracy of the payees' or payers' account numbers.
With SEPA, the Single Euro Payments Area, new, Europe-wide standardized procedures for cashless payment transactions (credit transfers, direct debits, card payments) were also introduced in Germany. They can be used for euro payments in the 27 EU states, Iceland, Liechtenstein, Norway as well as Monaco, Switzerland, San Marino, Andorra, the Vatican City State and the United Kingdom.