Goldman Sachs AG SWIFT/BIC code

What GOLDDEFA means for a payment to Goldman Sachs AG

Whether a recipient gives you GOLDDEFA or GOLDDEFAXXX, it is the identical identifier for Goldman Sachs AG in Germany. Banks worldwide use these codes to direct payments between countries to the correct institution. In daily life you usually see the code on international invoices, in your banking app and on the account details that Goldman Sachs AG provides.

This page is meant to help anyone who sends money to an account at Goldman Sachs AG. The SWIFT code on its own cannot identify an individual account holder; that is what the account number or IBAN is for.

GOLDDEFA or GOLDDEFAXXX – which one to use?

The structure of every SWIFT code is always the same: a bank code of four letters, a two-letter country code and a two-character location code, plus an optional branch code. The result is GOLDDEFA for Goldman Sachs AG.

Most banks and apps accept either length. If yours asks for eleven characters, enter GOLDDEFAXXX; if it wants eight, use GOLDDEFA.

In practice the code is written in capitals. Watch for O versus 0 and I versus 1, a common source of typos.

Receiving money from abroad at Goldman Sachs AG

To receive a transfer from abroad at Goldman Sachs AG, the sender needs not just the BIC. Give them your name as the bank knows it, your account number or IBAN, the BIC GOLDDEFAXXX and your address, which some banks require.

Some sending banks also ask for the name and address of Goldman Sachs AG in Frankfurt Am Main. A typo in the IBAN can be more trouble than you might think; copy them from your banking app rather than typing.

What lands in your account is often less than what was sent. Correspondent banks can take a fee, and if the currency changes, an exchange rate margin comes on top. Make clear with the sender who covers the fees before the money is sent.

When will the money arrive at Goldman Sachs AG?

How quickly a transfer reaches Goldman Sachs AG is determined by several factors: the currency, how many intermediary banks are involved, cut-off times and time zones. Weekends and public holidays in either country can add a day or more to the journey. Occasionally a bank asks what the payment is for before releasing it.

Many banks use SWIFT gpi for faster and traceable payments. Each gpi transfer carries a unique reference, the UETR. Keep the payment confirmation – you will need it for any trace request.

If a payment has not arrived within the expected time, the person who paid needs to contact their own bank. Ask the sender for the payment receipt; that often settles the question quickly.

What a transfer from Goldman Sachs AG abroad really costs

A bank transfer abroad can cost rather more than the fee suggests. You pay the fee for the transfer itself, sometimes fees charged by intermediary banks along the way and, above all, the exchange rate markup if the currency changes.

That exchange rate margin is often the largest item because it is hidden in the rate. Check the rate you are offered against the mid-market rate.

For a lot of currency pairs, a transfer service turns out to be less expensive than a traditional bank transfer. GoldexPay compares the amount that arrives across services. You can still use your account at Goldman Sachs AG, while a cheaper service handles the conversion.

The Euro and what conversion costs you

The currency in Germany is the Euro (EUR). If you send money in a different currency has to be converted somewhere along the way. There is rarely a separate charge for that conversion – the cost sits in the rate.

Where the conversion happens has an effect on the final amount, since every bank sets its own rate. In many cases you pay less if you send EUR directly via a transfer service that converts near the mid-market rate rather than letting the receiving bank convert.

Rates for EUR move all the time, and some providers let you lock in a rate. If you pay regularly, small differences in the rate make a real difference over time.

Is GOLDDEFA still correct? How to check

The best place to find the right code remains a document from the bank itself like a bank statement or the account page in online banking. If the code you have does not match GOLDDEFA or GOLDDEFAXXX, stop and ask.

If the code is wrong, the payment might get stuck, bounce back or end up costing more. Do not forget the account number: an error there is more difficult to correct than a wrong BIC.

Many banking apps check the format of an IBAN, but that does not prove the account belongs to the right person. More and more banks check the payee name with the account before you confirm – do not ignore a mismatch warning. For a first payment, some people send a small amount first.

Euro transfers to Goldman Sachs AG: is a BIC needed?

Because Germany is in SEPA, a euro transfer into Goldman Sachs AG from within the SEPA area normally only needs an IBAN. Most banking apps no longer ask for the BIC for these payments or fill it in for you.

A SWIFT code like GOLDDEFA does matter for payments in other currencies and when the money comes from outside SEPA. Some banks and apps still show a field for the BIC; in that case, enter GOLDDEFA.

Euro payments within SEPA usually arrive within one business day. Fees for SEPA transfers tend to be low.

About this information

We gather bank codes from public sources and check our list from time to time. It is possible that a code here is no longer current. The figures we show reflect what is in our directory and not on information from Goldman Sachs AG itself.

See our directory here as a helpful check. GoldexPay is an independent comparison site and not affiliated with Goldman Sachs AG. Should you notice a mistake, we appreciate a message.

Head office or branch code at Goldman Sachs AG?

Goldman Sachs AG uses 2 separate SWIFT/BIC codes. One of them is the head office code, GOLDDEFAXXX; the rest identify branches, and sometimes internal departments.

Unless the recipient tells you otherwise, use GOLDDEFAXXX. Just use a branch code when your contact explicitly asks for it.

When in doubt, ask the person you are paying for the exact BIC in their bank details. Codes are sometimes changed or retired when banks reorganise, so a code from an old document is not always valid.

Watch out for payment fraud

One of the most common tricks works like this: an email arrives with a request saying that a supplier now has new bank details and that the next payment should go there. That GOLDDEFA is a real code does not mean that the account is genuine.

Check changed payment details through a different channel like a call to a number from an earlier contract. Be suspicious of time pressure, odd spelling or a sender address that is slightly off. When a payment has already gone to the wrong account, call your bank right away.

Scams can also work the other way. Someone sends more than agreed and wants you to return the difference via a different route. A payment confirmation from the sender is no proof – check your own account.