Giropay is an internet-based payment method available for Customers in Germany, in which information on the payee and the intended use from a retailer’s shop system is automatically entered into the Customer’s online banking page. The Giropay system provides the payee with a confirmation statement concerning the completion of the online transfer. This confirmation statement is combined with a payment guarantee issued by the Customer’s bank. When asking for the sort code and further Customer information (such as account number and Customer name), you must ensure the following notice is included within your payment process in a manner which is unambiguously and easily recognizable by Customers:
“By entering your Customer information (such as name, sort code and account number) you (the Customer) agree that this information is given voluntarily.”
The payment guarantee made by a participating bank in relation to Giropay is limited to an amount of EUR 10,000 per transaction, even if the transaction is for a higher amount. You may make a guarantee claim if the relevant payment amount has not been credited to your Stripe Account balance within five (5) banking days. Guarantee claims must be made within six (6) weeks of the transaction date.