Sending money abroad or to your country is made simple with a plethora of online services competing against each other in speed, cost, and security. While there are many comparisons online, here we list the top 3 that most expats in Germany use.
Before going into detail about each of them, here is a comparison table showing the gist and rated based on experience of our community users and online research.
[wptb id=1957]Wise: Transfer Money Abroad
Wise is a global technology company that’s building the best way to move money around the world and it is one of the best to transfer money abroad
More than 5 million people and businesses have stopped using banks, PayPal, and traditional providers because Wise is cheaper, faster, and easier. Huge companies and banks use Wise technology too; an entirely new cross-border payment network that will one-day power money without borders for everyone, everywhere. Over five million people use TransferWise, which processes over £4bn in payments every month, saving customers over £1bn a year.
Wise charges a flat 0.5% fee, regardless of the amount. So you would pay around €10 fee for example if you wanted to transfer EUR 2,000 into whichever currency. Wise gives a live guaranteed price.
Pros:
- Live Guarantee price for 48hrs
- Instant (Money can be transferred in a few sec if less than €1000 or 24 -48 hrs)
- Excellent chat or email support
- Many options to pay: Sofort, Credit Card, Debit Card, Bank Transfer
- Have various options: Low-cost money transfer, Fast Transfer, Easy Transfer
- Option to open Bank account
- Debit card which can be used anywhere as per live exchange rate
Cons:
- In rare cases, money transfer is delayed in some countries
- Transferring with credit card is additional charges
Rewire
Rewire is a dedicated financial service and remittance provider from Israel that is designed specifically for working migrants. Rewire was launched in 2015 as an online money transfer and digital banking company designed for customers who wish to remit money home.
Rewire provides free bank account with IBAN and free master debit card which can be used for purchases and withdraw cash
On top of that rewire charges only €0.99 for any amount of international transfer.
Pros:
- Free IBAN account
- Free Master Debit Card
- Only €0.99 fees for international transfer, no matter how much you sent
- Instant international transfer or max in 1 day
- 24/7 customer support
- Better exchange rates than Wise or any other money transfer exchange
Cons:
There are no really cons, but you can’t buy the crypto on crypto exchanges with rewire debit card
Currency Fair:
CurrencyFair is an online peer-to-peer currency exchange marketplace. CurrencyFair is headquartered in Ireland also with employees in the UK, Australia, Greece, Hong Kong, Poland, and Singapore. The company has offices in Newcastle, NSW, Australia, Singapore, and Hong Kong.
It has a unique approach to international money transfers. Instead of exchanging your currency with a bank or a money transfer company, you actually exchange with other CurrencyFair customers to transfer money abroad
Once you transfer in money to your account, we will exchange it at rates up to 8x cheaper than the banks and transfer out to your recipient without delay.
You can securely send money to over 150 countries. Fully licensed and regulated, with a 10-year track record of best-in-class service for quick, low-cost money transfers.
Get 10 free transfers with us. Click signup button below
Transfer fees: Little as 0.1%, to 0.6%, plus a fixed €3 transfer fee.
Skrill:
Skrill is a digital wallet provider enabling a range of online payment and money transfer services. Established in 2001, Skrill is now owned by the Paysafe Group, a large payments group that provides payment services online, in person, and via other channels. Skrill started as an eCommerce payment gateway
You can transfer money abroad through Skrill Money Transfer and fund the payment via credit card, debit card, SOFORT, or bank transfer, depending on where you’re located and the currency you’re using.
You can transfer the money internationally with 0 fees. Sign up now and get €15 credit when you make your first international transfer of €150 euros or more.
Transfer Fees : Free
Pros:
- The international transfer is free
- Can use as a digital wallet
- Skrill card can be used as a debit card and use for payments
- Good email support
- Can use a credit card to transfer money internationally without fees
Cons:
- No Live Guarantee price
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Please let me know if you are using any other best options to transfer money abroad and we would like to add it.