Money Transfer Agreement Template for Germany

The Money Transfer Agreement is essential for businesses providing payment and money transfer services in Germany. It is designed to comply with German banking laws, including the Payment Services Supervision Act (ZAG) and the German Banking Act (KWG), as well as EU regulations. This agreement is typically used when establishing formal relationships between financial service providers and their clients for recurring money transfer services. The document addresses critical aspects such as service scope, compliance requirements, security measures, fees, and liability allocation. It includes specific provisions required under German law for financial services, including anti-money laundering measures, data protection requirements, and consumer protection provisions where applicable.

1. Parties: Identification of the money transfer service provider and the client, including full legal names, registration details, and addresses

2. Background: Context of the agreement, including the nature of the money transfer service and the general purpose of the arrangement

3. Definitions: Detailed definitions of key terms used throughout the agreement, including technical and regulatory terms

4. Service Description: Detailed description of the money transfer services being provided, including types of transfers, currencies, and geographical scope

5. Fees and Charges: Comprehensive breakdown of all fees, charges, and exchange rate calculations

6. Payment Terms: Terms and conditions for making payments, including payment methods and processing times

7. Compliance Requirements: Anti-money laundering and know-your-customer requirements, including verification procedures

8. Security Measures: Security protocols and measures for protecting transfers and personal data

9. Representations and Warranties: Legal statements and guarantees made by both parties

10. Term and Termination: Duration of the agreement and conditions for termination

11. Liability and Indemnification: Allocation of risks and responsibilities between parties

12. Governing Law and Jurisdiction: Specification of German law as governing law and jurisdiction for disputes