You want to transfer money between Germany and the UK, the US, Australia, New Zealand, Canada or other countries? Then there are different ways of doing so. The most conventional method to send money abroad is by bank transfer. I am sure you are aware of that. Bank transfers may use the fairest currency exchange rate. However, they often charge enormous fees. Especially if you transfer money between banks that use different currencies.
That's why we have created a list of alternative solutions of how you can transfer your money abroad cheaply, fast, securely and effectively.
Do you want to transfer money from abroad to your German bank account? Or from your German bank account to your bank account at home? Then you may want to choose Transferwise. Transferwise allows you to transfer money between your own bank accounts in Germany and abroad extremely cheaply and quickly. For example, to send money between accounts in the UK and Germany, it usually takes 1 working day.
To transfer money with WesternUnion you need to create an online account with them. It is the fastest money transfer option worldwide - the money arrives after a few minutes. As soon as you have registered online, you can send money abroad. You can see the estimated fees for the transfer in your online account.
A. Send Money to a Western Union branch
You have the option of sending money via a credit card. The recipient can receive the money at one of the 500,000 branches of Western Union worldwide. Western Union accepted partners and branches can be found in almost every country. Even in very remote areas. Just google 'your location and Western Union' to find the closest branch.
B. Send money to a foreign bank account
You can also send money directly to the bank account of your recipient. There are no fees for the recipient.
PayPal.me - your link to transferring money to your friends and family.
PayPal.me is for private transactions. It is for free. It allows family, friends and colleagues to make quick money transfers. It is not like the normal PayPal. The normal PayPal is for commercial transactions. It costs money.
How much does it cost?
It is for free when sender and recipient have the same currency and are both located within Europe. For example, PayPal.me is for free if you send money from Germany to France, or from Spain to Germany.
The service costs money, if the sender uses a credit card to send the money. Then it costs 1,9% + 0,35 EUR per transfer. You also pay a small fee, if you send money to a country outside of Europe, or to a country with a different currency, such as from Germany to the UK.
How does it work?
1. Set up a normal Paypal account.
2. Click on the link below to set up your PayPal.me account.