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| BGB 676a. 1 By a bank transfer contract , the banking institution ( transferring banking institution ) is put under a duty to the person who orders the transfer ( transferor ) to make a specified amount of money available to the beneficiary for credit to the account of the beneficiary at the transferring banking institution ( bank transfer ) and to supply information on the identity of the transferor and a purpose of the transfer , to the customary extent . If the credit is to be made by another banking institution , the transferring banking institution is obliged to transfer the bank transfer amount in good time and , to the extent that nothing else has been agreed , without deduction to the banking institution of the beneficiary directly or with the participation of intermediate banking institutions for this purpose and to forward the information specified in sentence 1. The transferor may , to the extent agreed , alternatively provide the banking institution with the monetary amount to be transferred in cash . |
| BGB 676d. 1 By an interbank payment contract , an intermediate banking institution puts itself under a duty to another banking institution to forward a bank transfer amount , using credit transfer operations , to another banking institution or to the banking institution of the beneficiary . |
| BGB 676e. 3 The banking institution that entered into an interbank payment contract with the transferring banking institution is obliged to return to the transferring banking institution the payments made that the transferring banking institution was obliged to make to the transferor under section 676b ( 3 ) . Each intermediate banking institution is obliged to return the payments made under sentence 1 or under this provision to the banking institution with which it entered into an interbank payment contract to forward the bank transfer . If the bank transfer is not executed because a banking institution has issued erroneous or incomplete instructions to the intermediate banking institution it instructed , then the claim of the former banking institution to reimbursement is excluded under sentences 1 and 2. The banking institution responsible for the error must compensate the transferring banking institution for the more extensive loss incurred by it in fulfilment of its duties under section 676c ( 1 ) . |
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