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Best Ways to Send Money to Germany

Compare all the services available to find the fastest and cheapest options to send money to the Germany with the best exchange rates.

Use our in-depth analysis to select a provider to send money to the Germany. Read our expert reviews to get all the details on fees, rates, and opinions from other users like you.

Jonathan Merry
Author 
Jonathan Merry
8 minutes
February 5th, 2024
Disclosure
Best Overall
9.2
Wise

We analysed 20+ money transfer providers and Wise is our recommendation if you need to send money to Germany.

Fastest Option
8.6
XE

XE tends to be the service that offer the fastest transfer times to Germany for many origin countries and send amounts.

Cheapest Option
8
Regency FX

Users who searched with our comparison tool found RegencyFX often had the lowest rates and fees for sending to Germany.

How much does it cost to send money to Germany?

Sending money to Germany can be more affordable than you might think. However, understanding the fees can be confusing. This confusion arises because money transfer providers make money in different ways. They can charge transfer fees, mark up the exchange rate, or do both simultaneously.

Let's imagine you want to send $1,000 from the United States to Germany.

After analyzing the 20+ providers in our database, we have found that your best option would be to use XE. They only apply a 0.90% markup on the USD-EUR mid-market rate, and the quality of their service more than justify this fee.

Instarem is also a valid and cheap alternative to send money to Germany. Like XE, charge only a small markup on the mid-market rate between the origin and destination currency. The total cost to send money to Germany depends on the payment option you choose - with the cheapest being credit and debit cards. Choose these, and the Instarem exchange rate will be only 0.18% higher than the mid-market rate

Things get a bit different with Wise, which have scored as the fastest way to send money to Germany. With Wise, you always get the mid-market rate so you don't lose on the exchange rate. You do, however, pay a transfer fee - which in this case ranges between $9.03 (bank transfers) and $53.00 (credit card).

Mid-market rate versus markup

Mid-market rate versus markup

The mid-market rate is the average between the buying and selling prices of two currencies. It fluctuates over time. The markup is the additional amount charged by the provider above this rate.

At MoneyTransfers.com, we make it easy to compare rates by providing the updated exchange rate markup for each money transfer provider. Additionally, you can review fees, transfer times, and read customer reviews.

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Best services to send money to Germany

When choosing a method to send money to Germany, you'll want to consider factors like convenience, cost, and transfer times.

  • XE aims to provide a solid combination of low costs, good exchange rates, and fast transfers between to and from Germany.

  • Instarem is a cheap option to consider if you need to send money to Germany as their fees are consistently the lowest in the industry.

  • Wise provides the quickest transfer times and a convenient multi-currency account that can help you in a variety of other ways besides transferring money to Germany.

Use our data to find the best options for you and discover the money transfer providers that offer the exact service you need.

The suggestions below are created by combining data from thousands of real-life searches that were conducted on MoneyTransfers by individuals who, like you, wanted to send money internationally toGermany.

XE
XE

XE emerges as the leading choice for individuals and businesses looking to transfer funds to Germany in 2024. This is according to data collected by our comparison engine and our extensive testing.

XE has a sterling reputation in the industry. It offers a blend of cost-effectiveness and speed that sets it apart from the competition. For individuals who want to send money to friends or family in Germany, XE offers an attractive solution. Their competitive exchange rates and fee structure make it easier for users to maximize the value of their transfers.

In addition, XE's user-friendly platform simplifies the process. It provides a simple experience for those looking to move money across borders swiftly and efficiently.

Businesses, too, find XE to be a reliable partner for international financial transactions. XE's services cater to the diverse needs of businesses operating globally. They provide payments to suppliers and manage foreign investments.

Wise
Wise

Wise consistently outperforms competitors in speed when sending money to Germany over the past six months. If your priority is fast transfers, Wise is an excellent choice, often delivering within hours.

Wise may not be the most cost-effective option for sending money to Germany via credit card. However, their fee structure remains transparent and straightforward.

They use the mid-market rate and only apply transfer fees, meaning you always know how much your transfer to Germany is going to cost.

Additionally, Wise has gained immense popularity for its multi-currency account. Arguably, it is the most widely used account of its kind worldwide. This feature is valuable for people who often do transactions with different currencies.

Instarem
Instarem

Instarem is the cheapest option for sending money to Germany. We found this after analyzing data from our comparison engine over the past six months.

Instarem is an invaluable resource for individuals looking for cost-effective solutions. Its competitive rates and minimal costs make it a highly attractive choice. Its ability to cater to those who prioritize affordability in their money transfer service is particularly noteworthy. Even if it means a slightly longer transaction time compared to alternatives like Wise and XE.

Need more options? Compare ALL rates

Get more for your money: compare and choose from over 20 money transfer providers and find the top options to send money to - best rates guaranteed!

What is the cheapest way to send money to Germany?

Money transfer services are the cheapest way to send money to Germany.

Whether you need to send money to your loved ones in Germany, pay for tuition fees, or send large amounts of money to invest in a property, money transfer services help you avoid bank charges and processes.

The exact cost of sending money to EUR can be influenced by factors like:

  • The country of origin

  • The amount you need to send

  • The payment method you select

  • The current exchange rates

Our comparison engine helps you find the best deal for your transfer by comparing the exact costs of all the most reliable money transfer services on the market in 2024.

USD to EUR Live Exchange Rate

Mid-market Rate
1
= 0.917125 EUR
Mid-market rate at: 13:08 UTC
USD/EUR Median: 0.916868 Low: 0.912950 High: 0.918920

Sending money to another country requires an understanding of exchange rates. An exchange rate can be compared to a constantly changing price tag that indicates the value of your currency in relation to another country's currency, in this case the Germany's EUR.

A favorable exchange rate means that you will receive more foreign currency for each unit of your own currency, making your transfer more effective.

Use the tool on this page to get the latest exchange rate for your currency to EUR. It's pre-set to USD but, you are dealing with different currencies, you can easily adjust the settings and get the values you need. This helps you know exactly how much money will arrive in Germany when you send it.

Expert Tip: Watch the Exchange Rate

Did you know you can save money by keeping an eye on exchange rates? If you're not in a hurry to send money to Germany, watching how the rates change can be smart. When the USD to Euro rate is good, your money will get you more in Germany. This means you can send more money without spending extra!

Want an easy way to keep track? Sign up for our automated notifications. We'll let you know the best time to send money. With these alerts, you won't miss out on a great rate. It's like having a money-saving expert in your pocket!

SIGN UP HERE

How long does it take to send money to Germany?

Quick and efficient - that's what you need when sending money to Germany. Money transfer services offer a great solution to those times when speed is of the essence, as their transfer times tend to be much shorter compared to banks.

Take, for instance, an urgent need to transfer $1,000 from the USA to Germany. Services like Wise excel in this regard, offering near-instantaneous transfers. Even other providers like XE and Instarem, while not as fast, ensure your money arrives swiftly.

Bear in mind that speed, like costs, can be influenced by:

  • The amount you're transferring. Smaller sums often move through the system quicker, while larger amounts may face delays due to necessary security verifications.

  • The time you start the transfer. To maximize speed when you send the money via bank transfer, initiate the operation before your bank's cut-off time. Miss this, and your transfer gets postponed to the next business day.

How to send and receive money in Germany

Sending money to Germany, is easy, especially when you gather the necessary documentation, and meet all legal requirements. To help you avoid unnecessary complications and delays, we have compiled a simple step-by-step process.

Use our comparison engine to find the best deals.
Pick the provide the offers what you need.
Register a free account and confirm your identity. Usually, you will need a photo ID and a proof of address.
Choose the destination country of your money transfer, the amount to send, and your preferred payment method.
Confirm your recipient's details. You may be asked to confirm your relationship to the recipient and the purpose of your transfer.
Check the recipient's details to make sure they're correct.
Submit the transfer and wait for the money to reach its final destination.
Important information

Tax Laws. In Germany, you’re subject to tax on income, either from employment (including salaries, bonuses, and pensions), self employment, and investment income. Gift tax is payable on amounts over €400,000 at a rate of 11%.

Transfer Limits. There are no legal restrictions on the amount of money you can send to Germany, but amounts over €12,500 must be reported to the Bundesbank (the central bank of the Federal Republic of Germany).

Reporting Requirements. Any transfer amount over €12,500 must be reported to the German central bank.

What do you need to complete an international transfer to Germany?

When you open an account with a money transfer service, you will be asked to provide your personal information. Before the transfer is executed, you will also need to share the necessary details of your recipient.

Your contact details

You will need to share your contact details with the provider of your choice, so make sure to double check your email and address are correct.

Photo ID

Money transfer services will need you to share a photo ID to confirm your identity. Have it ready and make sure it's valid.

Proof of address (optional)

Some providers may ask you to share a phone bill or a bank statement to prove your address.

Germany money transfer guides

Analysis and methodology

At MoneyTransfers.com, we're not just another comparison site; we're your ally in beating the high costs and complexities of international money transfers. Our platform is designed to turn the tables on overpriced banks and providers, ensuring you get the best deal every time.

What sets us apart

  • Unmatched Transparency: We believe in honesty and clarity. With us, what you see is what you get - no hidden agendas, no preferential treatment for providers.

  • Comprehensive Provider Network: We go the extra mile to include an extensive range of providers in our comparisons. From industry giants to innovative newcomers, we partner with a diverse array of trusted providers, ensuring you have access to the best options available.

  • Tailored Solutions: We understand that every customer's needs are unique. That's why we offer personalized recommendations based on your specific requirements, ensuring you find the perfect match to send money to the Germany.

The results displayed on this page are based on data we collected via our comparison engine during the past six months and show you a simple way to get the best fees, fastest transfer times, or most helpful customer support.

What are the cheapest options for sending money to Germany?
Are there any services that offer both low fees and fast transfer times to Germany?
How do the exchange rates for the Euro (EUR) compare among different providers?
What are the fees associated with sending money to Germany?
How long does it take to send money to Germany?
Is it safe to send money to Germany online?
Can I send money to Germany using mobile apps, and how efficient are they?
What information do I need to send money to Germany?
Can I send money to Germany from any country?
Are there limits to how much money I can send to Germany?
How can I track my money transfer to Germany?
What should I do if my money transfer to Germany goes wrong?
Can I send money to Germany via MoneyTransfers.com?
Do I pay taxes on money transfers to Germany?
What are the biggest banks in Germany?

Contributors

Jonathan Merry
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com