What is the Cost of Cheapest Way to Send Money to Germany?

When it comes to sending money to Germany, most of the ex-pats are in want to get the highest cash amount on the receiving end in a completely timely manner.

You cannot ignore the major fact that you have to pay the small fee and settle the lower exchange rates. But this does not mean that you should be settling yourself for the old international money transfer service.

Keeping this fact in mind, here we have a guide for you to discuss the best and cheapest ways for sending money to Germany. We have compiled different services for you based on how much money you want to send.

Let’s dive into the discussion below!


Important Factors to Consider When Sending Money to Germany

Before you make an international money transfer into Germany, right here are there main things which you need to consider which are:

  • fixed fee
  • percentage fee
  • combination fee

Let’s look at each one of them closely.

1. Fixed Fees

A fixed fee is known to be the major type of money transfer which you will come through when you start sending the money to Germany. Hence, it does not change with the actual amount of money which you transfer into the country.

Whether you have been sending USD1 000 or USD10 000, you will be charged with the equal fee. This fee hence varies between the banks as well as online cash exchange providers.

Bank of America, for example, will cost you around USD45 under no limitations of the money which you are sending to Germany. This makes the bank institution as one of the most inexpensive picks for transfers over a few thousand dollars.

2. Percentage Fees

However, a percentage fee is known to be another major type of transfer which comes in your way as opposed to the fixed fees. This proportion fee will change with the suitable amount which you are sending to Germany.
Wise, for example, costs percentage fees of 0.48% on a USD1 000 transfer. This means that you’ll pay roughly USD4.80 in Wise share prices.

3. Combination Fees

This is the third fee type which comes in your way when you are transferring money to the Germany is the scenario of the combination fee. It is the mixture of a fixed fee and a proportion fee.

PayPal makes use of this structured state to charge for worldwide cash transfers. Keep in mind that fee types don’t usually predict whether or not a service will be more cost-effective or greater high-priced than the next.

Exchange rates somehow play a major role when you are getting the money into the German bank.

Exchange Rates

It’s a fact that banks and online cash transfer companies will provide you with mid-market prices (except for Wise).
Aside from transfer fees and exchange fees, you additionally have to think about switch speeds, which we will cover next.

Xendpay, on average, takes about 2-3% of the mid-market alternate charge discovered on XE. Aside from transfer fees and exchange fees, you additionally have to think about switch speeds, which we will cover next.

Transfer Speeds

You might not be in the rush to get the money which you have sent to Germany. However, it’s suitable to recognize how traditional long transfers will take if you have to schedule month-to-month repayments or want dwelling expenses.
When you are using any service like the Western Union, you can avail the cash in just few minutes. But keep yourself ready for the extra fee.


Which Best Money Transfer Options are Available to Send Money to Germany?

Now let’s highlight a few major money transfer options to consider when sending money to Germany:

1. Wise

Wise is one of the few amazing and best online money transfer companies with current mid-market exchange prices, making them famous with ex-pats in Germany.

You’ll pay a proportion of fees when using this service, and in contrast to different companies, its quotes are competitive.

For example, for the USD1 000 transfer to Germany, you have to pay the cost of USD4.80 alongside with USD2.59 bank charge for the ACH transfer. This is the most inexpensive choice on its website.

However, that same USD1 000 transfers would cost greater if you choose wire transfer. Debit card, or debit card as an option of payment or the wire transfer will cost:

  • wire transfer— USD5.64 fee
  • debit card — USD11.56 fee
  • credit card — USD37.44 fee

Moreover, Wise is known to be pretty quick, where they promise you with the one-day shipping in case if you are making transfer on the days of Mondays through the Thursdays.

2. Xendpay

Xendpay is an amazing option for first-time transfers, as they provide a “pay what you want” structure for the first USD2, 275 you send to Germany.

Remember that after you meet your preliminary USD2, 275 limits, Xendpay will begin, including extra expenses relying on your transfer method. Here they are:

  • credit card — 2.4 % fee
  • debit card — 2.2% fee

3. PayPal

You can additionally transfer money to a bank account in Germany by using PayPal’s service, Xoom.

Xoom is barely higher than Western Union, too. For a USD1 000 transfer into Germany, they’d take about 2-4% in alternate cost alongside a debit or credit card fee of USD30.49.

The best thing about this service has been its speed of transfer. You will be able to grab the cash in Germany within 3 hours. It is quite easy to use and is attached with your PayPal account service.

Comparison Table of Best Method to Send Money to Germany

As it is visible in the table below, Xendpay is known to be the best choice for sending USD1 000 to Germany. Let’s discuss more of it:

Method Speed USD1,000 USD10,000
Wise 1 to 3 days EUR832.80 EUR8,328.50
Xendpay 1 to 3 days EUR838.00 EUR8,185.81
Bank Transfers 1 to 2 days EUR800 EUR8,341.52
Western Union 1 to 5 days EUR817.90 EUR8,179
PayPal 1 day EUR823 EUR8,230
ATM Instant NA NA
Cryptocurrency NA NA NA

By keeping all those general numbers in mind, let’s get into the discussion of a few options which are best for the expats from certain countries.

How to send money to Germany: Country-Specific Recommendation

If you are sending money to Germany from the U.S., the U.K., or Canada below are the best options to consider first-hand:

United States

Xendpay is your best option to consider if sending a few thousand bucks to Germany from the U.S. But once you get closer to the marks of USD10, 000, you can use the financial institution transfer, which can be through the Bank of America.
Use the Wise in case the bank has been charging some extra for the USD10, 000 transfers.

United Kingdom

When sending money from the U.K. to Germany, Xendpay is an excellent choice, in particular considering the fact that they provide a “pay what you want” platform for global transfers up to GBP2, 000. Once you end up with your limit, you can swap to Wise if they provide higher amount on the receiving end.

For large transfers, you can also choose to use a bank such as Barclay’s or HSBC UK. Barclay’s costs a constant rate from GBP19 to GBP44 for all transfers, while HSBC UK costs up to GBP30.


If you have to send money from Canada to Germany, use Xendpay for the excellent rates, as they simply seek out Wise when it comes to complete amount received.

For transfers nearing CAD10, 000 or more, Scotiabank is your go-to method, as they are normally on the top of the listing for expats, worldwide travelers, and college students abroad.

And it’s easier to see why that’s the case. Scotiabank just cost around CAD19 for worldwide cash transfers into Germany.