Sending money from Germany to the United States is very common among the large German immigrant population and businesses alike. With so many money transfer options to choose from – banks, exchange services, fintech apps, and more – picking the optimal choice to wire your euros to American bank accounts can get confusing fast.
In this guide, we’ll compare the fees, exchange rates, and speed of the top money transfer services for sending funds from Germany to the USA so you can determine the most affordable provider for your needs. Whether you need to make recurring payments or schedule future transfers to your American bank account, you’ll learn how to avoid excessive fees and still complete swift cross-border money transfers.
Companies reviewed will range from traditional providers like Western Union and MoneyGram to online-focused services like TransferWise, WorldRemit, and Azimo. You’ll get tips for choosing between cash pickups, bank deposits, and transfers directly to the recipient account. By determining if new fintech apps or old wire transfer institutions better serve your needs, saving money by sending EUR to USD will be easy. Let’s begin!
What Are the Best Companies for Transferring Money from Germany to the USA?
For those seeking to transfer money from Germany to the USA, a variety of reputable companies offer efficient and reliable services. Revolut stands out for its modern approach, offering seamless transfers from Germany in EUR to the USA in USD, alongside its versatile app-based platform. Instarem is another great choice, known for its competitive exchange rates and user-friendly interface, facilitating transfers from Germany in EUR to USD.
MoneyGram, with its global presence, offers the reliability and convenience of both online and offline services, allowing transfers in EUR from Germany to be received in USD in the USA. CurrencyFair provides an appealing option for those dealing with multiple currencies, supporting transfers from Germany in EUR, USD, and GBP, all converted to USD in the USA.
Xoom, a PayPal service, offers transfers from Germany in various currencies including USD, CAD, EUR, and GBP to the USA in USD, known for its rapid transaction times and easy-to-use online platform. TransferGo is another efficient service for transferring money from Germany in EUR to the USA in USD, often praised for its speed and low fees.
Western Union, a long-established player in the money transfer field, facilitates transfers from Germany in EUR to USD in the USA, offering widespread accessibility and quick transfer options. Remitly is focused on providing fast and cost-effective transfers from Germany in EUR to the USA in USD, ideal for those looking for a balance between speed and cost.
WorldRemit is recognized for its straightforward digital process, enabling transfers from Germany in EUR to the USA in USD with ease and convenience. OFX caters to larger transfers, offering competitive rates and personalized service for transfers from Germany in EUR, USD, and GBP to the USA in USD. TorFX, known for its tailored services, also supports transfers from Germany in EUR to the USA in USD, suitable for those requiring a more customized approach.
Lastly, XE, with its strong reputation for currency exchange, provides reliable and efficient transfers from Germany in EUR, USD, and GBP to the USA in USD. Each of these providers, with their unique features and benefits, makes them top choices for anyone looking to transfer money from Germany to the USA.
What Is the Fastest Way to Receive Money from Germany to the USA?
When determining the fastest way to transfer money from Germany to the USA, several providers offer notably swift services. Revolut, known for its modern, app-based platform, often facilitates rapid transfers, making it a strong contender for speed. Instarem also stands out for its quick processing times, especially appreciated by those who value efficiency alongside competitive rates. MoneyGram, with its extensive global network, offers the advantage of speed, particularly with its option for near-instant cash pickups.
CurrencyFair, while offering competitive rates and multiple currency options, might not be the fastest for small, urgent transfers but is efficient for larger transactions. Xoom, a PayPal service, is renowned for its fast transfer times, often completing transactions within minutes, a feature highly valued in time-sensitive situations.
TransferGo is another efficient service, known for its swift and straightforward transfer process. Western Union, a long-established name in the money transfer industry, excels in providing rapid transactions, with options for almost immediate transfers through its vast network of locations and online services.
Remitly is designed for quick, cost-effective transfers, balancing speed with affordability. WorldRemit, focusing on digital transfers, ensures speedy and hassle-free transactions. OFX, catering to larger transfers, offers fast services, although the speed might vary depending on the amount and specific transaction details.
TorFX specializes in personalized transfer services, and while they provide tailored solutions, they may not always be the fastest option for small amounts. Lastly, XE is recognized for efficient and reliable transfers, though its speed can vary based on the transaction complexity.
In summary, for the quickest money transfers from Germany to the USA, services like Xoom, Western Union, and Revolut are typically the fastest, offering almost instant transfer capabilities, which are crucial for those needing to send money urgently.
What Is the Cheapest Way to Send Money from Germany to the USA?
In the realm of cost-effective money transfers from Germany to the USA, Remitly emerges as the standout option for its affordability. Renowned for its low fees and competitive exchange rates, Remitly offers an optimal blend of economy and efficiency, making it the preferred choice for those prioritizing cost savings.
While other providers like Revolut, Instarem, and XE offer user-friendly platforms and various benefits, they don’t consistently match Remitly’s low-cost approach, especially for smaller transactions. MoneyGram and Western Union, despite their global presence, often come with higher fees, making them less ideal for budget-conscious users. CurrencyFair and Xoom are commendable for their multiple currency options, but their cost-effectiveness can fluctuate based on transaction size and currency pairs.
TransferGo, OFX, and TorFX, known for their tailored financial solutions, provide competitive rates for larger transfers. However, for every day, smaller-scale transfers, Remitly’s straightforward and economical approach proves to be more advantageous. Similarly, WorldRemit caters to a broad audience but doesn’t consistently offer the same level of savings as Remitly for transfers from Germany to the USA.
Therefore, when the primary goal is minimizing expenses in international money transfers, Remitly stands out. Its combination of low fees, competitive rates, and dependable service makes it the top choice for individuals seeking a balance between affordability and reliable money transfer services.
Should You Transfer Money from Germany Using Your Bank?
When contemplating whether to transfer money from Germany using your bank, it’s essential to consider the potential drawbacks associated with this traditional method. One significant disadvantage is the high transaction fees that banks often impose for international transfers. These fees can add up quickly and significantly reduce the total amount that the recipient ultimately receives. Additionally, banks may offer less competitive exchange rates, incorporating a markup on the standard rate, which can result in recipients getting less money on the receiving end.
Another drawback is the potential for slower transfer speeds due to the involvement of multiple intermediary banks in the process, leading to delays and uncertainty for both the sender and the recipient. Given these drawbacks, individuals and businesses seeking cost-effectiveness, competitive exchange rates, and faster transaction speeds may find it more advantageous to explore alternative options like specialized money transfer services or online platforms.
In summary, while banks offer security and familiarity, the drawbacks associated with high fees, less favorable exchange rates, and slower transfer speeds can make them less attractive for international money transfers from Germany. Exploring alternative avenues such as specialized money transfer services can often provide a more cost-effective and efficient way to send money abroad while maximizing the value of your financial transactions.
How to Send Money from Germany to the USA? Step-by-Step Guide
To send money from Germany to the USA, follow these simplified steps:
- Choose a Transfer Service: Select a reliable money transfer provider and compare rates and fees.
- Create an Account: Sign up on the provider’s website or app.
- Verify Your Identity: Complete any necessary identity verification steps.
- Initiate the Transfer: Log in and select the USA as the destination.
- Enter Transfer Details: Specify the amount in Euros (EUR) and provide the recipient’s details.
- Review the Transaction: Double-check details, including fees and exchange rates.
- Choose Payment Method: Select your preferred payment method.
- Confirm and Complete: Finalize the transaction following the service’s instructions.
- Track the Transfer: Monitor progress using available tracking features.
These steps will help you send money efficiently from Germany to the USA.
How Can You Find the Best Transfer Rate from Germany?
At RemitStack, we specialize in assisting individuals and businesses seeking the best transfer rates when sending money from Germany. Our platform is meticulously designed to compare a wide range of money transfer providers, leveraging our in-depth industry knowledge and expertise. We prioritize critical factors such as exchange rates, service fees, transfer speeds, and provider reliability, enabling our users to pinpoint the most cost-effective and efficient options tailored to their unique needs. Whether for personal or business purposes, our service guarantees that users secure the most advantageous deals when transferring money. With RemitStack as your trusted partner, you can confidently navigate the intricate world of cross-border money transfers, assured that you are accessing the best rates and services available, ensuring maximum value when sending funds from Germany.