Transact Elektronische Zahlungssysteme GMBH SWIFT/BIC code

What TEZGDEB1 means for a payment to Transact Elektronische Zahlungssysteme GMBH

TEZGDEB1 and TEZGDEB1XXX are two ways of writing the same SWIFT/BIC code, and both point to Transact Elektronische Zahlungssysteme GMBH in Berlin. Banks worldwide use BIC codes to direct payments between countries to the right bank. In practice you mostly come across the code on international invoices, in your banking app and on the account details that Transact Elektronische Zahlungssysteme GMBH provides.

This page is meant to help anyone who sends money to an account at Transact Elektronische Zahlungssysteme GMBH and wants to get the details right. Remember that the SWIFT code just identifies the bank, not the person: the IBAN or account number takes care of that.

8 or 11 characters: TEZGDEB1 versus TEZGDEB1XXX

The structure of a BIC is always the same: four characters for the institution, two for the country and two for the location. That gives you TEZGDEB1, the short form of the code.

Many payment forms work with both lengths. If yours asks for eleven characters, enter TEZGDEB1XXX.

Type the code in one piece, in upper case and without spaces, exactly as shown here. Copying the code is safer than typing it by hand.

Incoming international payments to Transact Elektronische Zahlungssysteme GMBH

Someone abroad who wants to pay you needs several details from you – incomplete details often cause delays. In practice that means: your full name as registered with Transact Elektronische Zahlungssysteme GMBH, your IBAN or account number, the SWIFT/BIC code TEZGDEB1XXX and, often, your postal address.

Some sending banks also ask for the bank’s address, so keep it at hand. A typo in the IBAN can be more trouble than you might think, so copy the details from your online banking.

What lands in your account is often less than what was sent. Correspondent banks can take a fee and your own bank may charge for processing, and when currencies differ, a markup on the rate applies. For business payments, you can state how the fees are split to avoid a shortfall.

When will the money arrive at Transact Elektronische Zahlungssysteme GMBH?

There is no single answer for every transfer: some land the same day or the next while others need several business days. Bank holidays in either country add extra days. Extra checks on larger or unusual payments may also add some delay, regardless of the details.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each gpi transfer carries a unique transaction reference, the UETR that banks can use to trace it. Keep the payment confirmation.

A missing payment is investigated from the sending side on the basis of the transfer details. On the receiving end, you can check your account to see a partial amount.

How up to date is this code?

We gather bank codes using publicly available data and check our list from time to time. Institutions reorganise, change names and change codes, and a directory never catches every change immediately. Figures such as the number of codes come from our own dataset and are not confirmed by Transact Elektronische Zahlungssysteme GMBH.

See our directory here as a helpful check, and let the details from the recipient or Transact Elektronische Zahlungssysteme GMBH have the final say. We are a comparison site for money transfers and not affiliated with Transact Elektronische Zahlungssysteme GMBH. Should you notice something that is out of date, we welcome a short note via the contact page.

Head office or branch code at Transact Elektronische Zahlungssysteme GMBH?

Having 4 codes in 1 locations, Transact Elektronische Zahlungssysteme GMBH is one of the banks that register individual codes for parts of the organisation. The main code remains TEZGDEB1XXX.

For most incoming transfers, the head office code TEZGDEB1XXX is the right choice. Branch codes are only needed if the recipient’s bank specifically mentions it, which is more common for business accounts and specialised services.

Not sure which code to use? Ask the recipient, or look at a recent statement from Transact Elektronische Zahlungssysteme GMBH. Branch codes are more likely to change than TEZGDEB1XXX.

Before you send: check the Transact Elektronische Zahlungssysteme GMBH code

Ask the recipient to send you their account details directly from their online banking. Compare that code against TEZGDEB1 here; if they differ, ask before you pay.

With a wrong code, the payment may be delayed, be returned or end up costing more – sometimes after weeks of searching. Do not forget the account number: a mistake there is harder to correct than a wrong code.

Most online banking apps validate the format of an IBAN and some suggest the matching BIC, but that does not prove the account belongs to the right person. If your bank offers it, a name check on the recipient adds extra certainty. Sending a small amount first is a sensible step for a large first payment, even if it costs an extra fee.

Sending money abroad from Transact Elektronische Zahlungssysteme GMBH

The price of an international transfer is made up of more than one component. Besides the transfer fee, correspondent or intermediary banks may deduct a fee, and if currencies are converted, the bank usually applies a rate that is less favourable than the actual market rate.

Many banks do not show the margin on the rate separately. An easy check: set the bank’s rate against the mid-market rate and look at the difference.

For a lot of currency pairs, a transfer service is less expensive than a traditional bank transfer. Next time you send money, it is worth comparing the total cost on GoldexPay instead of going straight to your bank. You can still keep your account at Transact Elektronische Zahlungssysteme GMBH.

Euro transfers to Transact Elektronische Zahlungssysteme GMBH: is a BIC needed?

Because Germany is part of SEPA, a euro transfer to Transact Elektronische Zahlungssysteme GMBH from within the SEPA area usually only needs an IBAN. Most banking apps do not require the BIC for these payments.

Outside the euro and for senders outside SEPA, TEZGDEB1XXX is still required. If your banking app has a field for the BIC anyway, entering TEZGDEB1 does no harm.

SEPA transfers normally land within one business day; instant payments are faster if both banks offer them. Charges on SEPA payments are generally low, as long as no currency conversion is involved.

Protect yourself against fake payment requests

One of the most common tricks works like this: an email arrives with a message claiming that a contact has new bank details. That TEZGDEB1 is a real code is no guarantee that the account is genuine – fraudsters use real bank codes as well.

Do not rely on contact details from the same email that announces the change. Pressure and requests to keep it quiet are red flags; a genuine business can wait for you to check. When a payment has already gone to a fraudster, contact your bank immediately.

Fraud also target the receiver: someone sends too much and wants you to return the extra. Wait until the money is actually in your account.

The Euro and what conversion costs you

Most accounts at Transact Elektronische Zahlungssysteme GMBH are usually held in EUR, the national currency. Money sent in a different currency is converted into EUR before it reaches the account – and the bank that does it picks the rate. You rarely see a separate charge for the conversion.

Where the conversion happens affects how much arrives. Often it is cheaper if you send EUR straight away via a transfer service that converts near the mid-market rate.

The EUR rate fluctuates throughout the day, so the amount you see is usually only valid for a short time. For recurring payments, small differences in the rate add up over time.