Browse Questions

Sending money from Germany to the USA offers a range of options, each with its own benefits and drawbacks depending on your priorities for cost, speed, and convenience. Generally, you'll be looking at either traditional bank transfers or using a specialized money transfer service. For a traditional bank transfer, you can initiate a SEPA Credit Transfer from your German bank account. While SEPA is designed for Eurozone transactions, many German banks can facilitate international transfers outside of SEPA to the US. You'll need the recipient's full name, address, their US bank's SWIFT/BIC code, and their account number. Often, you'll also need the routing number for their specific bank. The funds will typically go through a correspondent banking chain, which means an intermediary bank might be involved, potentially adding fees and slowing down the process. Bank transfers are generally reliable and good for larger amounts, but they can be slower, often taking 2-5 business days, and the exchange rates might not be as competitive as specialized services, with banks usually adding a significant markup to the interbank rate. Some banks may even charge a flat fee in addition to the exchange rate margin. When it comes to specialized money transfer services, you have a lot more flexibility and often better rates. Services like Wise (formerly TransferWise) are a popular choice because they aim to offer the mid-market exchange rate, charging a transparent upfront fee instead of a hidden markup. They facilitate transfers by using local bank accounts in both Germany and the US, which can make the process faster and cheaper than a traditional international wire. You can typically fund a Wise transfer using a bank transfer from your German account, or via debit/credit card, and the recipient usually receives the money directly into their US bank account. Delivery times can be very quick, sometimes even within minutes for certain routes, but typically within 1-2 business days. Other platforms like Remitly, WorldRemit, and Xoom (a PayPal service) also allow transfers from Germany to the USA. These services often provide various payout options beyond bank deposits, such as cash pickup, though cash pickup is less common and usually not necessary for transfers to the US. For the USA, bank deposit is almost always the preferred method. These platforms compete on exchange rates and fees, and it’s always a good idea to compare them for your specific transfer amount. They are particularly strong for smaller to medium-sized transfers and often have user-friendly mobile apps. For very large transfers, companies like OFX or Xe might be a better fit. They specialize in larger sums and can offer more personalized service and potentially better rates for high-value transactions. They often allow you to lock in an exchange rate, which can be beneficial if you're concerned about currency fluctuations. The compliance aspect is always there, no matter which method you choose. For any significant amount, you'll likely go through a Know Your Customer (KYC) verification process, which involves providing identification documents. Transfers over certain thresholds, like $10,000, trigger additional reporting requirements, and all transactions are screened against sanctions lists. If your transfer is delayed, it's often due to these compliance checks or a bank holiday in either Germany or the USA. Ultimately, for most people sending money from Germany to the USA, a digital money transfer service like Wise is a solid choice due to their competitive rates, transparent fees, and speed for bank-to-bank transfers. However, if you're sending a very large sum, comparing OFX or Xe might yield better results. Always double-check the current exchange rates and fees directly on the provider's website before making a transfer, as they can change frequently.