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HypoVereinsbank (UniCredit Bank AG) International Transfers

HypoVereinsbank was founded in 1998 and the headquarters are in Munich, Germany. The bank is part of UniCredit and has an expanding portfolio of clients in Europe. It’s the 4th biggest bank in Germany based on the number of employees, which is 12,194.

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About HypoVereinsbank (UniCredit Bank AG)

The bank focuses on wealth management, commercial banking, and corporate & investment banking. They offer international expertise across 13 core markets and are constantly expanding their European network. Continue reading this review to learn about the pros and cons of HypoVereinsbank, and if it’s a good option for international money transfers.

HypoVereinsbank exchange rates and fees

It’s important to evaluate the exchange rates and fees when choosing a bank. The costs can add up so selecting a bank with competitive rates will save you money in the long run. Read on to learn about the exchange rate and fees you can expect to find when sending money online with HypoVereinsbank.

Exchange rates

The exchange rates provided by HypoVereinsbank are competitive in the industry: the rates change daily based on market fluctuations. You will need to enter the amount you want to exchange to see what rate is offered. However, in most cases you will not spend as much money on exchange rate mark-ups compared to other banks. Click here to view up-to-date HypoVereinsbank exchange rates.

Transfer fees

The transfer fees depend on where you are transferring to and from. For example, when you include currency conversions there might be an additional fee. Therefore, you’ll need to determine the fees for each type of transaction separately. 

HypoVereinsbank does not charge a fee for incoming wire transfers. For outgoing wire transfers there is a 8 EUR fee for transactions up to 12,500 EUR, 12 EUR fee for transactions 12,501 EUR to 25,000 EUR, and 0.1% EUR (max 50 EUR per transaction) for transactions above 25,000 EUR.

Additional costs

HypoVereinsbank offers free ATM withdrawals at their locations but there are additional costs to consider. These include account management and the annual credit card fee. Business customers also pay fees based on the services they require. You can contact customer service to figure out the fees based on your specific requirements.

How do HypoVereinsbank Bank transfer fees compare to using a money transfer provider?

HypoVereinsbank bank transfer fees are not very expensive but they are beaten by most money transfer providers. Therefore, if you want to save money on bank transfer fees using a 3rd party service is the way to go. That’s especially true if you complete many transactions per year and the costs are adding up.

HypoVereinsbank pros and cons

Still on the fence about HypoVereinsbank: is it the right choice for you? Let’s take a look at a few of the pros and cons, providing a complete overview of the bank so you can make the right choice for your banking needs.

Pros
Mobile banking offers a simple and intuitive user interface Many features included such as ability to check balance and complete payments.
Overdraft facility quickly available with minimal barriers
Only a few simple steps to open an account
Choose from 4 current account types based on your needs
Ability to fully manage your account online
Over 300 branches across Germany, but mainly in the big cities.
Cons
The overdraft rate is expensive at 10.89%
The motive EC card comes at an extra cost
Credit card includes an annual fee
The money transfer service is slow at 5-7 business days

Can I open an HypoVereinsbank Bank account in any country?

Only German residents can open a German bank account. However, EU nationals are also eligible when visiting. International customers will need to obtain a German work permit and visit Germany in-person to open an account.

Does HypoVereinsbank Bank have an app?

Yes. The HVB Mobile Banking app allows you to execute mobile transfers and support personal financial planning. The app has a great user-interface and offers customers a secure login mechanism that requires a pin number. You can complete bank transfers or check transactions while on the move. 

The app works on Android and Apple smartphones. Also, there is an English version of the app for non-German speaking customers.

Are there transfer limits?

There is a transfer limit of 2,000 EUR per month for self-service savings accounts. However, you can request transfers of higher amounts when needed by contacting customer support.

How long do transfers take with HypoVereinsbank Bank?

The average bank transfer at HypoVereinsbank will take 5-7 days, which is a lot slower than the majority of international money transfers. However, you can pay a premium to reduce the transfer time.

What customer support options are available?

The customer support options at HypoVereinsbank are excellent. The available options include:

  • Live chat: you can start a live chat with a customer service agent. When we tested the feature the agent responded within just a few minutes. You can ask questions and upload files when trying to get a solution
  • Phone: The number to call is +49 89 558 772 100 and they are available Monday-Friday, 8am to 8pm. You will need to navigate the electronic response system, but getting through to customer service is fast. They do a great job of being polite and answering questions fully
  • FAQ: before contacting customer service you may want to visit the FAQ area to find answers to commonly asked questions. It’s a fast way to learn more about how to use HypoVereinsbank.

Can I use a HypoVereinsbank debit card when travelling abroad?

It is possible to use the HypoVereinsbank debit card worldwide. You may need to contact the bank when traveling to ensure that automatic restrictions are not activated for security reasons. Across Europe you will find many ATM’s where cash withdrawal is free. However, it depends on the specific ATM you are using. 

How to open an account and transfer money with HypoVereinsbank Bank on the website

Opening an account at HypoVereinsbank is a simple process that can be completed online or at a bank branch. There are 4 steps to completing the registration process online:

Step 1: To start, click on the “free account for new customer” in the footer. Then click on the blue button and follow the instructions. You’ll need to specify if you are opening a solo or join account. Also, you must decide if you’ll need a credit card. There are different options to select from based on your needs

Step 2: Provide the required information in the fields. It helps if you would organize information before starting the process to save time. You will need your personal info, address and passport

Step 3: Now the information you provided will be verified. Incorrect information will need to be entered again. You may have to contact customer service if there are problems

Step 4: the information is submitted and you will need to wait for confirmation, which can take up to a few days

Transferring money

You can transfer money at HypoVereinsbank using online banking from a desktop or mobile app. The process is simple and takes no longer than a few minutes or a couple of easy steps. You need to enter the IBAN and recipient’s name for domestic transactions. International transfers may require additional information such as the SWIFT code and bank address. 

You will need to use the modern security procedure of appTAN when sending payment from your smartphone. This is a secure mechanism for entering your pin so you only have access to your account.

Customer service details for users of HypoVereinsbank Bank

Customer service: +49 800 50 40 506

You can use the contact form to send a message. Responses might be via phone or email. For live chat you will need to log in.

Can I use Bank HypoVereinsbank for international bank transfers?

You can receive and send money using an international wire transfer. Most banks will have a direct arrangement for swift transfer using correspondent banks.

When receiving money you will need to use the HypoVereinsbank swift code, which is HYVEDEMMXXX and your branch address.

Additional information

Before opening an account at HypoVereinsbank you might want more details to decide if it’s the right choice for you.

  • The minimum age to open an account is 18 years or you must have the signature of a parent or legal guardian. 
  • Registration is free up to the age of 26.
  • It was awarded as a top employer 6 times by the independent Top Employers Institute. 
  • Offers a wide variety of products, which include savings & pensions, investments, loans, real estate and FCB banking.

Summary

HypoVereinsbank is one of the top German banks that offer customers various services and excellent security standards. Customers can complete daily banking activities from the desktop or mobile platforms. Also, with 300 branches around Germany, you will easily find a local branch. 

The fees and exchange rates are competitive, but you can save money on international money transfers when using a 3rd party service. 2 examples of such services include Wise and Xe. The transaction process takes just a few simple steps allowing you to move money around the world conveniently.

April Summers

April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.