European monetary authorities are preparing to roll out the digital euro, which is scheduled to enter a pilot phase in mid-2027. Anyone wishing to use the central bank digital currency in the future will receive an additional account number alongside the familiar IBAN: the Digital Euro Account Number (DEAN), as reported by Chip.de.
Structure and Allocation of the New Account Identifier
While the IBAN identifies a checking account with a bank, the DEAN is designed to ensure error-free transaction processing within the digital euro system. According to the specifications, the identifier consists of 18 alphanumeric characters and always begins with the prefix “EU”. Unlike the IBAN, it does not include a country code. Instead, the DEAN directly indicates whether the account belongs to a private individual or a business. The remaining characters are divided into check digits and a serial number.
According to regulations, individuals may hold only a single DEAN. Business customers, on the other hand, will be permitted to use multiple numbers. The identifier is generated centrally via the Digital Euro Service Platform (DESP). Following an identification and registration process, the respective payment service provider requests the identifier from the platform and assigns it to the customer. Providers are obligated to disclose the DEAN transparently to users. If a physical payment card is issued for the digital euro, the number must be clearly printed on it.
Everyday Use: Aliases Instead of Long Number Strings
To make payments as seamless as cash, consumers will not need to manually enter the 18-character string for transfers. In practice, aliases will be used instead. For instance, a DEAN account can be linked to a mobile phone number to send funds directly to contacts. This method is already being tested in ongoing pilot projects.
Specific provisions have also been made for data privacy: at the central level, the infrastructure relies on anonymized unique identifiers. This is designed to prevent the European Central Bank or national central banks from linking transactions directly to the DEAN or the identity of account holders.
What Users Need to Do Now
Currently, consumers do not need to take any action. Technical systems are currently being prepared ahead of the digital euro’s scheduled pilot launch in mid-2027.
Quellen: Chip.de
