Feeds Topics Living Abroad How to Transfer Money from Germany to Other Countries

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    Deborah Etim
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    One of the frequently asked questions people who have just moved abroad ask is how they transfer can money to people who are not in the same region as them. Transferring money within Europe is quite easy because almost all the countries in Europe use the same currency, Euro. For transfer within the Eurozone, you can easily do so with your German bank account. If you are in Germany and you are wondering how to transfer money to people outside the Eurozone, this post would simplify things for you.

    Financial services are springing up all over the place. But, especially when sending money internationally, it’s critical to choose a reputable service. Here are 5 Financial institutions you can trust that allow you to transfer money from Germany to other countries, with ease.

    Western Union: Its branches can be found all over the world. Really. Everywhere. In major cities such as Berlin, London, Paris, Moscow, and Munich, to tiny towns and rural locations throughout the world. Western Union Money Transfer is a reliable and trustworthy way to send money from Germany to any part of the world. It is also the fastest way to transfer money and you can get issues resolved because of great customer service all around the world. Note that it is expensive to transfer money using this means because it charges o to 10% commission of the total sum you want to transfer.

    PayPal: This is an online bank you can use to transfer. You can easily create an account using their site or their app which is available for download. Note that both you and your beneficiary will need a PayPal account to complete this transaction. You can use PayPal for business or for a private transfer.
    There is a charge for this service but, because the transfer is quick, it’s an excellent choice if you are short on time.

    Wise: This online financial organization was formerly known as TransferWise. Wise accepts over 750 different currencies from all around the world, including the GBP, USD, EUR, AUD, and CAD.
    You know exactly where your money is at all times. Each stage of the transfer will be communicated to you via email. You may also follow your transfer from anywhere using its mobile app or site. Their transfer fee is mid, it is not as expensive as most financial institutions.

    MoneyGram: Just like Western Union, this is a great way to transfer money because MoneyGram is available in every part of the world. You can visit banks that use this medium, or you can use USSD codes via your mobile phone, so far as you have registered with the service,

    Banks: This is not the best option because of their high transfer rate, but we included it because it is one of the options you can use to transfer money from Germany to other countries. It is safer to use this if the transfer is going to be done within the Eurozone, as earlier mentioned, but when it comes to other currencies, the charges may be outrageous.

    Note that none of these services are totally free. Their charges depend on a number of factors like the amount you are sending, the speed at which you want it to be delivered, and the exchange rate of the currencies involved. Choose a service that suits your needs and stick with it.

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