Transferring money from Germany abroad: where it’s cheaper

How to transfer money from Germany to another country

There are many ways, and they vary greatly in price—just not where people usually look. Most of the money is lost not on the commission but on the exchange rate: The bank or service builds its mark-up into the exchange rate itself, so it does not appear as a separate line item on the receipt. A fee of €0.99 with a mark-up of 4 % on the exchange rate makes this an expensive transfer, not a cheap one.

Let’s go through it step by step: what has changed within the EU, where to look for the real cost of transfers outside of it, and what is currently happening with the routes that have been hit by sanctions.

Within the EU, transfers should cost the same as domestic ones

Transfers in euros to any EU country cost you according to the rules exactly the same as a domestic transfer within Germany. For most banks this is zero. Only the recipient’s IBAN is needed — Sweden, Poland, Italy, Spain and the other Union countries are no different here from a neighbouring German bank.

Two changes that went live recently:

Instant transfer with no markup. Banks have been obliged to accept Echtzeitüberweisungen (instant transfers) since January 2025 and to send them since 9 October 2025, and they are not permitted to charge more for this than for a standard transfer. The money arrives in seconds, including at night and at weekends.
Checking the recipient’s name. From 9 October 2025, before sending, the bank will check the name you have entered against the IBAN holder. If they do not match, it will show a warning. You can still send it, but you will then be responsible for any mistake.

If the currency is not the euro (zlotys, korunas, forints), that is already a conversion — and the rule about the exchange rate from the beginning of the article applies.

Outside the EU: compare the amount that actually arrives

The only fair way to compare the services is to plug the exact same amount into each and see how much the recipient will receive. Not the commission, not the exchange rate, but the final amount in the recipient’s currency. The difference between the best and worst option on a transfer of €1,000 easily reaches several tens of euros.

Bank transfer

The most obvious way and usually the most expensive. One-off fees can be significant, the money takes 3–5 working days to arrive, and the bank sets its own exchange rate. Doing it in a branch, through a member of staff, is more expensive than via an app or online banking. Check the fee with your own bank – they vary significantly between different providers.

PayPal

Convenient if the recipient also has PayPal: money arrives instantly between accounts. There is also a transfer to a bank account or card. The weak spot is currency conversion: the markup on the exchange rate is noticeable, so for regular transfers abroad PayPal is rarely cost-effective.

TransferGo*

A specialised money transfer service focused on Eastern Europe. There is a free slow tariff and a paid urgent one.

Wise* (formerly TransferWise)

The service changed its name in 2021, and old links lead to wise.com. It shows the exchange rate without a hidden markup and charges a fee as a separate line item — which is precisely why it is convenient to use as a benchmark for comparison. It features a multi-currency account with details in several countries.

Upon registration via this link* a bonus is given — the first transfer is commission-free.

Paysend*

Card-to-card transfers, fixed fee. Convenient when the recipient does not have a bank account, only a card.

The order of services in the list means nothing: tariffs for all of them change several times a year, and the “most cost-effective” one depends on the amount, currency, and country. Therefore, we do not provide specific figures here—they will become outdated faster than you can read them.

Look at the exchange rate, not the commission A service with zero commission and a mark-up of 4 % on the exchange rate will take around forty euros from a transfer of 1,000 € — and you won’t see that anywhere. A service with a €5 commission and a fair exchange rate will take five. Compare them based on just one figure: how much the recipient receives.

Russia and Belarus

The previous version of this page recommended money transfer services to Russia as of February 2021. Since then, everything has changed: some Russian banks have been disconnected from SWIFT, a full ban on transactions applies to certain banks, and most services from this list have closed the route.

Transfers are not entirely prohibited, but are severely limited and depend on the specific recipient bank. The rules change, so any instructions from the internet need to be checked for the date. We do not provide support for such transfers and do not recommend specific workarounds.

What to check before transferring money

How much will the recipient receive — the only figure that matters.
Duration. “Instantly” and “up to five working days” with the same service often only differ in the tariff price.
Limits. For the first transfer and for the month, they are usually lower than they seem.
Verification. For a large sum you will be asked for documents and proof of the origin of funds — this is a standard procedure, but it takes time.
The recipient’s name must match the name held by their bank, letter for letter.

What else to read

Girokonto (current account) in Germany — how to choose an account and what’s new in the rules for transfers.
Cash withdrawal — where they don’t charge a commission.
Credit cards — and why you need a card for use abroad.

Any questions? Write to us.

Service terms and sanction rules change — this page was checked in August 2026. This material is for informational purposes only and is not a recommendation for any specific service.

Money transfers to other countries