What are the main ways to send money abroad from Germany, and how do they compare on cost and speed?

The best option depends mainly on where the recipient is, which currency they need, and whether they need cash or can receive a bank transfer. Compare the total amount they’ll receive, not just the advertised fee—providers may also make money through the exchange rate.

SEPA is often the simplest and cheapest choice when the recipient can accept euros into a SEPA account. Standard euro SEPA transfers are generally limited to one banking business day, while instant transfers are processed within seconds; instant availability and any conditions depend on the banks involved. (bundesbank.de)

For transfers outside that use case, compare the exact same amount, destination, currency, payment method, and payout method on a few providers’ calculators. A low visible fee can be offset by a less favorable exchange rate. Wise says it charges an upfront fee and uses the mid-market rate; Western Union says fees and rates vary by transaction, and its exchange rate can include a margin. (wise.com)

Rule of thumb: SEPA for euro bank-to-bank payments in the SEPA area; an online service for many non-euro transfers; cash-transfer services when cash pickup matters more than minimizing cost; and a bank SWIFT transfer when your bank’s all-in quote is competitive or the recipient requires it. Check the recipient’s exact payout details and the final amount they’ll receive before confirming. (remitly.com)

Your German bank is usually the most expensive option, and specialist services are usually cheaper and faster. Exact costs depend on the currency pair and amount, so check a live quote before sending.

1. Traditional bank transfer (SWIFT/wire)
Banks charge a flat fee plus a hidden exchange-rate margin. One guide notes that hidden exchange rate markups of 2 to 5 % eat into every transfer, stacked on top of visible SWIFT fees. For a €1,000 transfer, one comparison puts a German bank at 10 to 40 € flat and 2 to 5 business days. A Sparkasse SWIFT transfer example came to €25–€35 total. Cost: high. Speed: slow.

2. Specialist online transfer services (Wise, Revolut, and similar)
These typically use the mid-market rate and charge a visible fee. Wise's total on a €1,000 EUR-to-USD transfer is roughly €5–8, and Wise transfers arriving in under 20 seconds is common for major currencies. Revolut's standard transfers €5–€13 total, though one guide says it can be free within a monthly limit and charges about 0.5% above it. Wise is more expensive for some currencies: for example, EUR to NGN (Nigeria) carries a 1–1.5% fee and can take 1–2 days. Cost: low. Speed: minutes to about a day.

3. Remittance services (Remitly, and others)
Remitly is aimed at personal payments, especially to South Asia, Southeast Asia and Africa. Its speed depends on the option you choose: minutes (Express), days (Economy). Its cost is often higher than Wise's; one guide estimates €10–€24 total on a standard transfer. Cost: medium. Speed: minutes to days.

4. Cash-pickup services (Western Union, MoneyGram)
These are useful when the recipient needs cash, but they tend to be the priciest per euro. One comparison lists 2 to 4 % for Western Union and 1 to 3 % for MoneyGram, with speed in minutes (cash).

5. Currency brokers (Currencies Direct, Key Currency, and similar)
Brokers often charge no transfer fee and instead build their margin into the rate. A broker comparison lists no transfer fees for some providers and delivery times of Minutes - 24 hours. These suit larger amounts, and they often offer a dedicated account manager. Check the markup on each quote, because it varies.

6. PayPal
PayPal is generally a poor choice for bank-to-bank transfers. One comparison gives a 3–4% markup and a €0.99–€3.99 fee, and it delivers instantly only to another PayPal account.

Rough comparison

Other points to know

• For euro payments within the EU/EEA, a standard SEPA transfer from your bank is often cheap, but it only covers euros sent to euro accounts in the SEPA area.
• Reporting rules: sources disagree on the threshold. One guide says AWV threshold: 50,000 € (since 2025), while another refers to a €12,500 Bundesbank reporting rule. Check the current Bundesbank rule if you are moving large sums.
• Some of these comparison sites earn affiliate commissions, and at least one example is a few years old, so verify current fees before choosing.

To send money abroad from Germany, you generally have three main options: specialized online money transfer services, traditional bank transfers, and cash remittance services.

The best choice depends on the destination, the amount you are sending, and how quickly you need the money to arrive.

1. Comparison of Methods

Key Factors to Understand

The "Hidden" Cost: Exchange Rate Markup

The most important factor in the cost of your transfer is often not the transaction fee, but the exchange rate markup.

• Traditional Banks: Many banks advertise low fees but apply a "hidden" markup of 2–5% on the exchange rate. This means you lose a significant portion of your money before it even reaches the recipient.
• Online Services: Fintech companies typically use the "mid-market" rate (the real rate you see on Google) and charge a transparent, upfront fee. This is almost always cheaper for standard remittances.

Transfer Networks

• SEPA (Single Euro Payments Area): If you are sending Euros to another country within the SEPA zone (most of Europe), this is typically the fastest and cheapest method, often free or very low-cost through your regular bank.
• SWIFT: For transfers outside the SEPA zone or in non-Euro currencies (like USD, GBP, or AUD), banks use the SWIFT network. This involves intermediary banks, which can lead to higher fees and slower processing times.

Summary of Recommendations

• For the Cheapest & Most Transparent Option: Use specialized online platforms like Wise, Remitly, or WorldRemit. They are specifically designed for international transfers and are usually 90% cheaper than traditional bank transfers.
• For European Transfers (in EUR): Stick with your standard bank account using a SEPA transfer. It is usually the most efficient way to move money within Europe.
• For Cash Needs: If the recipient does not have a bank account or needs funds immediately, cash pickup services like Western Union or MoneyGram are the most practical, though they can be expensive due to service fees.
• For Large Transfers: If you are moving a very large sum of money, it is worth comparing the "total delivered amount" (how much the recipient actually gets) across multiple platforms. Some brokers may offer better rates for high-value transactions.

A Final Tip

Before you confirm a transfer, always check the "recipient receives" amount on the provider's website or app. This allows you to compare the total cost—including both the fees and the exchange rate—so you can see exactly how much money will arrive at the destination.

The best option depends mainly on the destination and whether the recipient needs euros, another currency, or cash. Compare the total amount the recipient gets, not just the advertised transfer fee: exchange-rate markups and intermediary or receiving-bank charges can add to the cost.

Quick rule of thumb: For euros going to a SEPA account, start with a SEPA transfer. For other currencies, compare your bank with a couple of transfer services using the same amount and destination, and compare the recipient’s final payout. For urgent cash pickup, a cash-transfer provider may be faster, but check the total cost first.

Exact prices and delivery estimates are route-specific and can change; verify them at checkout. Sources: Wise’s transfer-time information ⁴ and Western Union’s service information ³⁶.