KFW was founded in 1948 and has its headquarters in Frankfurt, Germany. It is a development and investment bank and the 3rd biggest in Germany. The bank covers 90% of the borrowing needs of capital markets in Germany and the total assets are 472.3 billion Euros as of 2017.
KfW is owned by the Federal Republic of Germany (80 per cent) and the States of Germany (20 per cent).It is led by an Executive Board, which reports to a 36-member Board of Supervisory Directors. The Chair and Deputy Chair of the Board of Supervisory Directors are the German Federal Ministers of Finance and of Economic Affairs. The roles are switched on an annual basis.
KFW Bankgruppe does not offer currency conversion services, but you can find the lowest rates via Moneytransfer.com. Using a 3rd party service to complete money transfers ensures you have the best exchange rate available online.
It’s not possible to send money with a KFW Bankgruppe, but you can when using money transfer services such as Moneytransfer.com. They are ideal if you want to send money regularly and avoid the transfer fees building up over time.
There are minimal additional costs when using 3rd party services. The idea is to keep the costs low so that you’re able to get a good deal. You won’t have to pay for signing up to a new account or downloading their mobile app.
Banks similar to KFW Bankgruppe charge up to $40 per transaction depending on where you are sending the money. However, with a 3rd party service you don’t have to worry about high fees. In most cases they are small and don’t scale as you increase the amount of money sent.
Receiving money using a regular German bank account is comparable to a third-party service. You will not get charged for receiving money but it might take longer for the money transfer to complete.
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You don’t have an option to open a regular private bank account at KFW Bankgruppe. However, you have many options to send money to Germany using other services, which you can find at Moneytransfers.com.
Transferring money at KFW Bankgruppe is not possible but easy with a money transfer service. In most cases you need the email of the recipient’s account and the amount you wish to send – it’s that simple.
The CEO is Dr. Gunther Braunig
The number of employees is 6,705
Offers branches in 11 countries worldwide including Moscow, London, New York and Singapore
Received awards for international deals from organizations such as PFI Project Finance International, IJGlobal and GTF Global Transport Finance
KFW Bankgruppe customers are unable to send or receive money to a traditional private bank account. However, they offer a range of other services such as foreign investments, small and medium enterprises, housing finance and more.
Customers of KFW Bankgruppe can send money using money transfer alternatives such as Western Union and Payoneer. They are trusted methods of sending money quickly with minimal fees.