Ensure Accurate Identification of Recipients During Transfers Starting From October 9, 2025

New Money Transfer Rules to Take Effect Nationwide on October 9, 2025

Starting on October 9, 2025, new rules for money transfers will be implemented across Germany, including those made to the city of Lünen. These rules, aimed at making transfers more secure and preventing payment misdirections, have been instated by the German Federal Ministry of Finance (Bundesministerium der Finanzen) in coordination with the Deutsche Bundesbank and the Federal Financial Supervisory Authority (Bundesanstalt).

To ensure a successful transfer to the city of Lünen, it's crucial to provide the correct IBAN that matches with "Stadt Lünen". Banks will automatically match the provided IBAN with the recipient's name, a rule that applies to all transfers, regardless of the method of initiation (online, transfer form, or bank counter).

Incomplete or incorrect details in transfers to Lünen can lead to delays in payment processing. It's important to note that transfers to the city of Lünen that do not comply with these new rules will not be executed. The new rules do not indicate a grace period for adjusting to the new requirements for transfers to Lünen.

The new rules also apply to transfers to the city of Lünen, and payments must use the name "Stadt Lünen" as the recipient. If the name and IBAN do not match, the transfer will be automatically returned.

These new rules are part of a larger effort to prevent payment misdirections and make transfers more secure. Transfers to the city of Lünen that do not follow these rules will not be processed, and it's essential to double-check all details before initiating a transfer.

The institution responsible for enforcing these new regulations on money transfers effective from October 9, 2025, is the German Federal Ministry of Finance (Bundesministerium der Finanzen). They can issue detailed rules in coordination with the Deutsche Bundesbank and delegate authority to the Federal Financial Supervisory Authority (Bundesanstalt) for implementation and supervision.

As the implementation date for these new rules approaches, it's important for individuals and businesses to familiarise themselves with the new rules to ensure a smooth transition and avoid any potential issues with money transfers to the city of Lünen.

Ensure Accurate Identification of Recipients During Transfers Starting From October 9, 2025