Swift, the organization that powers the worldwide network linking over 11,500 financial institutions in more than 200 markets, announced a new consumer payments campaign that will give people in Germany receiving money from family, friends as well as businesses abroad a significantly better experience. Deutsche Bank is bringing the new service live that allows standard international payment transfer to Germany at the end customer’s account in just a matter of seconds.
This effort sets a fresh benchmark for global retail transfers so that consumers can take advantage of a number of key perks-
- The entire amount is received. When you get money from outside the country, the sum that arrives in your account is the sum you were sent no surprises.
- It is faster. In a lot of instances, money will come in a matter of minutes. Where local banking systems allow, transfers can be instantaneous.
- You know the cost in advance. Before you hit confirm, the sender gets to see the fee as well as the exchange rate, so there are no unexpected surprises.
- Trackable. The recipient has the same ability as a parcel to track every stage of the transfer until it is received.
It is worth noting that Deutsche Bank is one of the first financial institutions to carry out the international payment transfer to Germany through this mode and the first in Germany, thus first providing a better experience for customers when they receive money from Brazil and Australia as well as Turkey. More than 60 banks in 25 countries have signed up to the scheme, which was launched only in 2025.
According to the Global Product & Client Solutions Head, Institutional Cash Management at Deutsche Bank, Ciaran Byrne, “Given the importance of the German market in global cross-border flows, it was critical to enable a scalable and standardized framework for incoming payments. As a gateway intermediary, Deutsche Bank is supporting financial institutions globally in sending payments into Germany while enabling retail and SME clients to benefit from a more transparent, predictable, and efficient payment experience.”
Germany comes under the top 10 countries for remittances received, as per the UN.
The Head of Central and Eastern Europe at Swift, Olivier Lens, said that “The rollout of this initiative represents a key development for Germany’s payments landscape. Customers expect international payments to be as transparent and predictable as those made domestically, and these standards help deliver on those expectations. This framework will enable a more trusted cross-border payments experience for businesses and consumers alike.”