SOFORT Banking works on the basis of online banking. The best advantage of using SOFORT is you don’t have to register an account or open a virtual account which is known as a wallet. It is a direct transfer of funds instantly. All you need to do is enter your bank’s sort code with your usual online banking login details and your confirmation code to authorize the transfer.
The information is then delivered to your bank in encrypted form. The online merchant then receives confirmation that the transfer order is in real time and the funds immediately arrive. This basically means no waiting time before the funds are sent.