If you find an IBAN or a very similar number (LU89 7510 0013 5104 200E) online, it’s most likely related to a PayPal transaction. It usually appears when trying to fund a PayPal account via bank transfer. Luxembourg’s unusual IBAN number initially causes confusion or even suspicion among many users. The good news is that it is, in fact, a legitimate and important PayPal account number. However, you should be careful, as the context in which you are asked to use it is crucial.

The most important things in brief

• The IBAN LU89 7510… from this number onwards, is the official collective account of PayPal (Europe) S.à rl et Cie, SCA, based in Luxembourg.
• It is used by customers in Germany and other European countries to deposit funds into their PayPal account via traditional bank transfer.
• Transfers to your personal PayPal account are made exclusively on an individual basis, as specified by PayPal.
• Warning: Despite the authenticity of the IBAN, it can be misused by fraudsters. Only make transfers to this account if you have received these details directly from your officially registered PayPal account.

The role of the IBAN: A collective account for PayPal top-ups

PayPal doesn’t assign each of its millions of customers a personal bank account number. Implementing this would be logistically difficult. Instead, the company uses centralized deposit accounts. Therefore, when you transfer money to your PayPal account, it sends it to the same bank account as thousands of other users.

For PayPal to know who the money should be paid to, the most important factor is the purpose of the payment. When you select the “Deposit Money” option in your PayPal account, the system generates a unique code valid only for this transaction. Only by using this code as the purpose of your transfer can PayPal automatically credit the received payment to your personal PayPal balance. Without this code, or if the purpose is incorrect, the transfer of funds is either not possible or requires considerable effort.

Where does this IBAN display come from?

You won’t find this IBAN by chance; PayPal displays it specifically when you follow a specific procedure:

• Log in to your authorized account on the PayPal website or app.
• Go to your “Wallet” (or “E-Wallet”) and select the “Deposit or Withdraw” option.
• Select the “Deposit from your bank account” method.
• PayPal will show you the bank details for the collective account (the LU…IBAN mentioned above), the recipient’s name (PayPal Europe…), and a unique purpose generated for you.

Only the data displayed in your account after logging in is reliable.

Important security notice: Beware of phishing!

Although the IBAN number is legitimate, scammers use it for phishing purposes. They hope recipients will recognize it and trust the payment request more.

Therefore, be very careful in the following situations:

• You receive an email, SMS, or instant message purportedly from PayPal asking you to transfer money to this account, for example, to “verify” your account, pay a “fee,” or unlock a “prize.” PayPal will never request such a transfer via email.
• Someone on a sales platform (such as a classifieds section) asks you to transfer the purchase amount to this account instead of sending it directly to their PayPal address. This is usually an attempt to circumvent PayPal’s Buyer Protection.
• You will be notified of the intended use of the funds by email or other insecure means. The golden rule: Only transfer money to this IBAN if you’re logged into the official PayPal website or app and obtained the information there, not by clicking a link in an email.

Conclusion: A legitimate IBAN that requires the right context

Therefore, the IBAN LU89 7510 0013 5104 200E is nothing to worry about: it’s the official PayPal bank account number for recharging in our region. However, its correct and secure use is intrinsically linked to its unique purpose, which should only be received from your personal PayPal account after logging in. If this principle is followed, a bank transfer is a safe way to top up your PayPal balance. Any other payment request containing this IBAN should be treated with extreme caution.