The bank accounts used to receive the funds from the investors are held by Lemonway, the payment services provider in charge of collecting the funds on behalf of the project holders. All bank accounts opened by Lemonway are opened with Tiers-One Banks located in Germany. Therefore, the bank accounts communicated to collect the funds have the "DE" abbreviation in the IBAN.
For investors, it has no effect that the account-holding bank is based in Germany, as transfers under the SEPA Regulation in the EU/EEA area are treated as EU internal payments and therefore fall under the EU Price Regulation. This means that the SEPA credit transfer is treated as a domestic payment and no additional costs are incurred.
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