Revolut
- Great rates and low fees to 150+ countries
- User-friendly app and easy sign-up process
- Get the real exchange rate during market hours
OFX
- No transfer fees above $10,000
- 25+ years’ experience in FX markets
- Send money to over 170 countries
TorFX
- No transfer fees
- Dedicated account manager assigned to you
- Fix your exchange rate up to two years in advance
Looking for a way to send money to family, friends or a business in Germany (or even to your own bank account overseas)? According to MoneySmart, you should avoid Australian banks and go with a money transfer specialist to get better EUR exchange rates and lower fees on international transfers.
Based on the providers we've compared, TorFX is among the cheapest, with competitive exchange rates and fees starting from $0. Need a really fast transfer? Xe Money Transfers can get money to your recipient in Germany within minutes.
Best ways to send money to Germany from Australia
The best way to send money to Germany depends on your payment method, how you want your money to be received and how fast you need it to arrive.- Online money transfer provider. When buying Australian dollars or euros money transfer specialists typically offer better rates and cheaper fees than a local bank.
- Bank transfer. Bank transfers are an easy way to send money to Germany but they charge extra for the convenience and are often slower than other methods. AU banks generally add a 3% to 6% markup onto exchange rates.
- Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you've sent when they collect it from their agent location in Germany.
- Mobile wallet. Essentially an electronic wallet service, mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
- Home delivery. If your recipient may struggle to get to a cash pickup location, you may be able to opt for door-to-door cash delivery.
Compare the best money transfer companies to send money to Germany
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Cheapest way to send money to Germany
As reported by the ACCC, bank transfers are typically the cheapest way to get your money to Germany. TorFX and Xe Money Transfers have some of the lowest bank transfer fees of the brands we've compared.
Remember, it's more important to look at the overall cost of your transfer to Germany and this has a couple of elements:- Transfer fees. While still cheaper than your Australian bank, money transfer services charge either a fixed or percentage-based fee for making your transfer.
- Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market AUD/EUR exchange rate.
Certain providers may give the mid-market rate but add fees on top and others will have low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many euros your recipient will end up with.
Fastest way to send money to Germany
Actual transfer times from Australia to Germany can depend on several factors including transfer amount, payment method and currency.
Here are some of the fastest average transfer speeds to Germany:- Revolut — within minutes
- Xe Money Transfers — within minutes
- Wise — within minutes
Safest way to send money to Germany
The safest way to get your money to Germany is using a provider registered with Australia's industry regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC). All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both Australia and Germany.
A great way to dive deeper is by reading our reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
Large money transfers to Germany
If you need to make a sizable money transfer to Germany, consider using a provider such as TorFX or OFX to secure a better EUR exchange rate and benefit from its expertise handling larger transactions.
Using a large transfer specialist can have the following advantages:- Tax guidance. Large transfers to Germany may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on the Australian Taxation Office's latest advice.
- Foreign exchange tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the EUR exchange rate you want.
- Account manager. Some money transfer providers assign a personal account manager who can offer advice and help facilitate transfers.
- Phone service. If you want to talk your transfer through with someone, providers such as TorFX and TorFX can provide support over the phone.
How to send money to Germany from Australia
To send money to Germany, you'll need the necessary documentation, your recipient's details and a way to pay.
- Compare your options.
Use our table to find a money transfer provider that sends funds to Germany. One may be better for cash pickups while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site". - Create an account.
You'll need to give your name, address, contact details, proof of ID and method of payment. - Provide your recipient's details.
Enter your recipient's name and contact information. If you're sending straight to their German bank account, you'll need the account number, SWIFT or IBAN number, plus their bank branch's address. - Enter your transfer amount.
Check you're happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total euros your recipient gets. - Complete your transfer.
Send your money transfer to Germany. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it too.
Example: Maximilian transfers money to Germany
Maximilian is working in Australia as a software engineer and he stays in regular contact with his elderly parents back home in Germany. His parents need some funds to help pay off a mortgage, so Maximilian plans to send them $2,000 from Australia.
He decides to compare a bank and a money transfer specialist to see which one can save the most money on his transaction.
| Bank | Money transfer company | |
|---|---|---|
| Exchange rate | 1 AUD = 0.55 EUR | 1 AUD = 0.56 EUR |
| Transfer fee | $10 | $2.50 |
| Transfer method | Bank account deposit | Bank account deposit |
| Processing time | 2 - 5 working days | Next day |
| Amount received | 1,093.56 EUR | 1,112.21 EUR |
The money transfer company enables Maximilian to send an extra €18.65, which is transferred straight to his parents' Deutsche Bank account.
How to choose a money transfer company for Germany
When selecting a provider to transfer money to Germany, here are the main factors to consider:
- Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. However, not every money transfer provider offers the mid-market rate so compare the EUR you're offered to the mid-market rate to calculate the margin.
- Transfer fees. Are you being charged a flat fee or a percentage of the transfer amount? A provider offering to transfer your money to Germany for a flat or low fee might work out better if you're sending a large amount.
- Transfer type. Does your recipient have a German bank account or is cash pickup a better option? Each transfer type will have different fees. For example, instant cash pickups tend to be more expensive than bank transfers.
- Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as SingX offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value.
- Transfer limits. Find out how much you can send with each service. For example, Remitly has a transfer limit of $2,999 while OrbitRemit allows transfers up to Varies by destination.
- Discounts. Providers may offer you a free transfer simply for signing up. Others may give a discount for transferring more than a specific amount of euros.
Is this a good time to send money to Germany?
Compared to a month ago, the Australian dollar is weaker against the euro. Currently, $5,000 is worth €2,798.00, whereas a month ago, $5,000 was equivalent to €2,996.50. That's a decrease of 6.62% over the past month.
Similarly, compared to a year ago, the Australian dollar is again weaker against the euro. A year ago, $5,000 was equivalent to €2,909.00. That's a decrease of 3.82% over 12 months.
What's more important, however, is the strength of the Australian dollar against the euro and where it goes from here – which is harder to call. Based on those two data points, your Australian dollars might not go as far as they would have, so shopping around for the best deal on your transfer is key.
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Purchasing a property in France. we are in the proceeds of opening a Neo-Bank acct. Will require to send a large sum of money and we are considering the money transfer companies. ‘world first’ looks like our favoured company based on the completed transfer. Should we be considering another compay or anything else? Regards Tamara
Hi Tamara,
Thanks for your message. While we provide information about money transfer providers for Germany, kindly note that we are not in the position to recommend one product and deem it be best since choosing a service provider depends on a customer’s requirements. To help you choose the best one for you, let the information above guide you on that by going to part of the page that says “Compare providers who can help you send money to Germany.”
When sending money – it’s important to check the exchange rate beforehand to maximise the funds to be exchanged. You can refer to our guide about finding the best exchange rates. Also, read through the transfer process of the provider such as transfer fees, transfer options, and transfer speed to set expectations for the receiver. Take note of any reference or tracking numbers should any transaction delays come up during the transit. Hope this helps and feel free to reach back out for further assistance.
With care,
Nikki