Introduction to AWV Notice in Account Statement

According to German law, German residents, individuals or corporates, with residence address in Germany have to report payments of more than EUR 12,500 or equivalent (when payment in any foreign currency), which they receive from or pay to persons with a foreign residence. At each payment the customer has to be informed about his duty to report to the central bank.

Through this enhancement, the customer will be able to identify the transaction which is meant to be reported to the bank, based on short narration for the respective transaction in the Account Statement.

Click here to understand the terms and abbreviations used in this functionality.