Numerous Britons live and work in Europe, and of these it is estimated that almost 100,000 British citizens call Germany home, so the demand to transfer money to Germany – or vice versa – is still high.
Buying or selling property overseas, sending money home to loved ones or moving savings before repatriating to the UK are among the reasons people look for the best way to send money to Germany from the UK.
Whatever the reason, there are several ways to transfer funds, however, depending on the currency exchange service you choose, the cost, the level of guidance you receive and the availability of personalised tools that can help you can all vary widely.
This article explains how to send money to Germany in the most efficient and cost-effective way.
What is the best way to send money to Germany?
Using a high-street bank to transfer money to Germany from your UK account could leave you out of pocket. Bank and building societies can charge transfer fees of up to £30 for a single transaction and often offer less-than-competitive exchange rates.
The latter may mean you lose a significant part of any large sum you transfer, while high fees could adversely affect smaller, more regular payments, such as pension transfers.
Another option is a cash transfer service, which is often used when an overseas recipient does not have a bank account in that country. This can only be done in a branch and must be both deposited and collected in person in each country. It can be a good option if you need to send money to Germany in a hurry, but high charges and security may be issues.
A more cost-effective, efficient and secure method is to use a currency specialist. You will benefit from competitive exchange rates, no transfer fees and a range of tools designed to save you time and money. You also have access to personalised, expert guidance, plus the option to manage your own payments online or over the phone – whichever you choose.
How to send money to Germany
The Telegraph Media Group International Money Transfer Service, provided by currency market expert Moneycorp, aims to help you save money and simplify the process of transferring funds abroad. When sending money to or from Germany this service can potentially secure a more competitive GBP-EUR exchange rate compared with your high-street bank, and there are no transfer fees involved.
To enjoy fast, convenient, and cost-effective transfers for sending money to and from Germany, you can easily register for a free online account today. Once you’ve completed the signup process, sending money is straightforward:
- Create your online account.
- Click on the ‘Send a payment’ option.
- Enter the necessary details for your transfer, such as currency, recipient, and country
- Specify the amount you wish to send.
- Confirm your transfer
Alternatively, you can also arrange your transfer by contacting them over the phone.
What details do I need?
To send money to Germany from the UK, you will need to provide your personal details, as well as those of the recipient in Germany, whether that’s your own account, one for a business or someone else. This includes:
How to find a good exchange rate
Because specialist foreign exchange services work in bulk, they can help you find a great exchange rate and often offer zero transfer fees. Unlike banks and other non-specialist providers, these services also focus on designing tools to help you navigate the fluctuating currency markets and make the most of your money. For example, so that you don’t miss out you may be able to lock in a great rate for your future payments with a forward contract.*
You can access such a facility via the Telegraph Media Group International Money Transfer Service, provided by Moneycorp.
How much can I send online?
With an online Moneycorp account, you can transfer up to £100,000 in 33 different currencies, including euros. If you would like to send more than £100,000 or prefer to speak to someone about your transfer, then you can also contact Moneycorp via its telephone service.
With your account, you can also manage and track all payments, view live exchange rates and sign up for alerts on FX market movements.
How long does it take to send money to Germany?
When sending money overseas, time is vital. Using a specialist international payments provider, such as Moneycorp, means your payments will arrive quickly and securely, typically within one to two days, with some payments even arriving the same day.
Can I transfer money abroad without fees?
While many international money transfer methods do charge fees, Moneycorp offers zero transfer fees, as well as competitive pound-to-euro exchange rates, personalised guidance from a currency expert and a quick and secure service.
Send money to Germany today
Transferring via the Telegraph Media Group International Money Transfer Service gives you the tools and support to make the most of your money with every overseas payment. With competitive pound-to-euro exchange rates and zero transfer fees, it means you can be confident that you are making the most of your money.
Read more:
*Forward contracts may require a deposit.
Be aware of currency risk.
None of the information contained in this article constitutes, nor should be construed as financial advice. TTT Moneycorp Limited (company number 738837) is registered in England. Its registered office is at Floor 5, Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ. Moneycorp is a trading name of TTT Moneycorp Limited which is authorised and regulated by the Financial Conduct Authority for the provision of payment services (firm reference number 308919). Date of approval 14/06/2023
Information correct at date of publication.
