Deutsche Bundesbank SWIFT/BIC code

MARKDEF1 – the SWIFT/BIC code of Deutsche Bundesbank

Whether a recipient gives you MARKDEF1 or MARKDEF1720, it is the same address for Deutsche Bundesbank in Germany. A SWIFT code shows the sending bank which institution is meant to get the money, a bit like a postal address for banks. You will need it mostly for transfers between countries or a currency.

Below you will find the practical side: receiving money at Deutsche Bundesbank, sending money abroad and how to check a SWIFT code before you confirm a payment. The BIC identifies a bank or branch, never a specific account; the IBAN or account number does that.

Do you need MARKDEF1 for a SEPA transfer?

Germany belongs to the Single Euro Payments Area (SEPA), the zone for uniform euro payments. For a regular euro transfer within SEPA, you normally only need the IBAN.

Outside the euro and for senders outside SEPA, MARKDEF1720 is still part of the payment details. Some forms also ask for the BIC out of habit; in that case, fill in MARKDEF1.

Instant payments in euros have become increasingly available across SEPA; check with Deutsche Bundesbank whether it applies to your account. Charges on SEPA payments tend to be low.

Protect yourself against fake payment requests

Be alert when someone unexpectedly wants you to send money to a different account abroad. That MARKDEF1 is a real code does not mean that a request mentioning it is genuine – fraudsters use real bank codes as well.

Check changed payment details through a different channel like a call to a number from an earlier contract, not by replying to the message. Watch out for urgent requests, odd spelling or a sender address that is slightly off. If money was sent to a fraudster, contact your bank immediately.

People receiving money can be targeted as well: one known trick is an overpayment and then sends a request to send back the difference. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.

About this information

The codes here are taken from public sources that we update regularly. Banks reorganise, close branches and retire codes. The number of codes we show reflect what is in our directory.

For any payment of any size, always check the BIC with the recipient’s bank or the recipient. We are a comparison service for money transfers and not part of Deutsche Bundesbank. Spotted outdated information? Let us know via our contact form.

When will the money arrive at Deutsche Bundesbank?

How quickly a payment reaches Deutsche Bundesbank is determined by several factors: which currency you send, how many intermediary banks are involved, cut-off times and differences in time zone. Bank holidays in either country can add a day or more, since banks do not process on those days. Sometimes a bank asks about the purpose of a payment.

A growing number of banks use SWIFT gpi, which lets them follow a payment from bank to bank. Every payment gets a unique transaction reference, the UETR that banks can use to trace it. Money transfer services usually provide a status online so you can see how far the payment is.

If a payment has not arrived within the expected time, the person who paid needs to start with their own bank, not the receiving bank. Request from the sender the payment receipt including the reference; that often settles the question quickly.

Sending money abroad from Deutsche Bundesbank

When you transfer money abroad from Deutsche Bundesbank, the fee you see is only part of what you pay. On top of a fixed fee, correspondent or intermediary banks can take a cut, and when currencies are converted the bank usually uses a rate that is less favourable than the real market rate.

Banks do not show the margin on the rate separately, but you pay it all the same. An easy check: put the rate you get next to the mid-market rate for the same moment and look at the difference.

For many currency pairs, a transfer service is less expensive than a traditional bank transfer. Next time you send money, take a minute comparing what arrives on GoldexPay instead of going straight to your bank. Choosing a specialist does not mean closing your account at Deutsche Bundesbank: you simply pay the service from your account.

What to give a sender who pays you at Deutsche Bundesbank

For an international payment into your account at Deutsche Bundesbank, the sender has to have more than the BIC. That means: your name as registered with Deutsche Bundesbank, your account number or IBAN, the BIC MARKDEF1720 (or MARKDEF1) and sometimes your address.

Certain banks want the bank’s address, so keep it at hand. Check every detail before you share them, because the sender’s bank usually copies them as is.

Money from abroad does not always arrive for the full amount. Correspondent banks can take a fee, and if the money is converted, a markup on the rate comes on top. For business payments, it is common to agree how the fees are split.

Sending EUR to Deutsche Bundesbank

The currency in Germany is the Euro (EUR). If you send money in a different currency it has to be converted somewhere along the way. Every conversion eats into something.

Who converts the money matters: every bank has its own margin. In many cases it is cheaper to send EUR directly via a provider with a good rate rather than letting the receiving bank convert.

Rates for EUR change during the day – some services let you fix a rate in advance. If you pay regularly, small differences in the rate make a real difference over a year.

Before you send: check the Deutsche Bundesbank code

The most reliable source for the BIC is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. If the code you have does not match MARKDEF1 or MARKDEF1720, do not guess.

A wrong SWIFT code may lead to a delay, a payment being sent back or extra fees. A mistake in the account number is more serious because it can reach the wrong person; check it just as carefully.

Most online banking apps check the structure of an IBAN and sometimes look up the BIC automatically. Some banks now compare the name against the account – do not ignore a mismatch warning. Sending a small amount first is a sensible step for a large first payment, even if it costs an extra fee.

MARKDEF1 or MARKDEF1720 – which one to use?

The structure of every SWIFT code is always the same: a bank code of four letters, two for the country and two for the location, sometimes followed by a branch code. In this case, that core is MARKDEF1.

The full version adds a three-character extension for a branch or department. When those three characters are XXX, they simply mean the head office.

Do not add spaces or dashes when you enter MARKDEF1; the code is always written in one block. Pasting the code beats typing it by hand: a typo can point to another bank.

Choosing between the 41 SWIFT codes of Deutsche Bundesbank

Deutsche Bundesbank uses 41 separate SWIFT/BIC codes. One of them is the head office code; the rest identify branches or departments, and sometimes specific services.

Usually there is no need to look up a branch: transfers addressed to MARKDEF1720 reach Deutsche Bundesbank without problems. When you receive a specific code, stick to it instead of swapping it for the head office code.

When in doubt, check with the recipient for the exact BIC in their bank details. Codes for branches are more prone to change than the head office code when a bank merges or closes offices.