10 Best Money Transfer Companies in Germany

Before you dive headfirst into the world of the 10 best money transfer companies in Germany, let’s take a moment to run through the report card you’ll be grading these companies on.

Sections

How to Choose the Best Money Transfer Company in Germany

You’ll need to pay special attention to the fee structure of each company that you’re looking at. After all, you’re searching for a service that’s transparent about their fees, without any of those sneaky hidden charges that attack from nowhere.

Next, it’s the exchange rate game. This is all about getting the best bang for your buck. A company offering a competitive exchange rate is definitely a keeper.

Additionally, you’ll want a company that’s got your back when you’re stuck. Nobody likes being left hanging, especially when money’s involved.

Then, we have the transfer speed. In the fast-paced world we’re living in, time is of the essence. So, a company that can move your money quick-smart without compromising on security is the real MVP.

Finally, there are all those tiny factors such as transfer limits, range of coverage, language support, mobile app, and customer reviews. They’re the real telltale signs of the truth behind a company’s reliability and effectiveness.

Overview of the Money Transfer Landscape in Germany

Let’s set the scene here. Germany, with its top-notch infrastructure, thriving economy, and cosmopolitan vibes, has become something of a melting pot for expats and global businesses. It’s no surprise, then, that the money transfer landscape in the country is as diverse as a Berlin Christmas market.

With a growing global economy and international relations, it’s become commonplace for folks to transfer money across borders like texts. Consequently, Germany has seen a pretty impressive boom in the number of money transfer companies setting up shop. We’re not just talking about big league players like Western Union and PayPal here, but also some fresh faces that are giving the old guard a run for their money.

Germany’s got tons of money transfer options to choose from. These range from traditional banks that have been in the money-moving game for centuries to digital-first startups that have transformed the industry with innovative tech. Yep, there’s definitely no one-size-fits-all solution here.

But, as the number of options grows, so does the confusion. Each company is distinguished by its own fee structure, exchange rates, transfer speeds, customer service quality, and a myriad of other features. They’re all unique, and your choice can either make your day or break it.

That’s where we come in, to break down the complex world of money transfers in Germany and give you a shortlist of the best in the biz. By the end of this, you’ll be navigating the money transfer landscape like a pro.

Comparison of the Top 10 Money Transfer Companies in Germany

Key Details

No.	Provider Name	Founded	Trustpilot rating	Countries Covered	Currencies Covered	Transfer Speed	Cash Pickup	Mobile App
1	Currencies Direct	1996	4.9	200	70	1-2 hours within Europe; 1-2 days for overseas transfers.	No	Yes
2	Remitly	2011	4.1	180	75	Within minutes (express delivery); 3-5 days (economy delivery).	Yes	Yes
3	CurrencyFair	2009	4.4	150	20	0-5 days	No	Yes
4	Revolut	2015	4.3	200	29	Instant for Revolut users; 1-2 days for the rest.	No	Yes
5	Wise	2011	4.3	170	50	0-2 days (within minutes for over 50% of transfers).	No	Yes
6	XE	1993	4.2	170	50	1-4 days	Yes	Yes
7	MoneyGram	1940	4.5	200	60	Within minutes (cash transfers); 1-3 days (bank and debit card transfers).	Yes	Yes
8	WorldRemit	2010	3.9	145	70	0-2 days (within minutes in 95% of cases).	Yes	Yes
9	Western Union	1851	3.9	200	130	Within minutes for cash or debit card transfers; 1-3 days for transfers between bank accounts.	Yes	Yes
10	VertoFX	2017	4.5	200	51	1-2 days	No	Only for Android

Fees, Rates, and Limits

No.	Provider Name	Transfer Fee	Exchange Rate Margin	Minimum Transfer Amount	Maximum Transfer Amount
1	Currencies Direct	No fee	0.4% to 1.4% added to the mid-market exchange rate.	£1	£25,000 through the mobile app; £300,000 by placing a special request.
2	Remitly	$0.00 – $50 depends on the selected countries, the transfer amount, and the payment method ($3.00 – $7.00 on average).	1% – 2.5% added to the mid-market rate on average (can range between 0.5% and 3.7%).	$1	Depends on the sending and receiving country, the transfer amount, and the transfer method (from $3,000 to £150,000).
3	CurrencyFair	£2.50 (UK); €3 (EU); Currency equivalent for other currencies.	0.45% added to the mid-market exchange rate	£7 (or currency equivalent)	10,000,000 (same in every available currency)
4	Revolut	No fee for transferring to other Revolut users; Card transfers: 0.7% (if you’re in Europe); 2.3% (outside Europe); Bank transfers: fees can range between 0.35% and 1%.	A 0.5% – 2% markup is added to the mid-market exchange rate on weekends. There is usually no markup added on weekdays.	£1	Depends on the selected plan, the sending country, and the recipient country.
5	Wise	Variable fee – 0.4% – 0.6% of total amount (on average); Fixed fee – £0.2 – £0.3 on average.	No markup is added to the mid-market exchange rate.	£1	$6,000,000 USD; $1.8 million AUD; $1.5 million CAD; €6,000,000 EUR; £5,000,000 GBP.
6	XE	£2.00 under £250 (UK) €2.00 under €250 (EU); No fee for other sums.	0.2% to 1.4% added to the mid-market exchange rate.	£1	£350,000 (UK and EU); $535,000 (US); CAD $535,000 (Canada); NZD $750,000 (New Zealand).
7	MoneyGram	Depends on the location, the sending amount, and the payment method. Can be as low as $0-$15 and as high as $100.	1% to 5% added to the mid-market rate.	$1	$10,000 per online transfer for most countries (with a $10,000 as a monthly cap); $25,000 for online transfers to 42 select countries from the US.
8	WorldRemit	$0.99 – $3.99 depending on the transfer amount and the selected countries and payment methods.	0.5% – 2.5% added to the mid-market exchange rate (1% – 1.6% on average).	$1	Depends on the selected countries and method of payment (ranges between $1,400 and $60,000).
9	Western Union	Based on the sender’s location, transfer amount, and payment method. Usually, there’s a fee that’s as low as $0-$15, but some can be as high as $100 if sending to an exotic location or paying by credit card.	1% – 5% added to the mid-market exchange rate.	$1	Depending on the sender’s country: $50,000 if identity verified; $3,000 if identity isn’t verified.
10	VertoFX	No fee	0.2%-0.6% added to the mid-market rate or the best available rate.	$1	No limit

Review of the 10 Best Money Transfer Companies in Germany

1. Currencies Direct

currencies direct international money transfer review

	Pros	Cons
1.	Attractive exchange rates	Limited support for less common currencies
2.	No fees for transfers	Not particularly adequate for small money transfers
3.	A broad range of currencies, supporting over 70	No clear policy for transaction cancellation
4.	Worldwide service spanning over 200 countries	Limited methods for receiving funds
5.	Fast fund transfers	Instant custom quotes aren’t available
6.	Impressive rating on Trustpilot	Service unavailable in certain US territories
7.	A variety of payment options	Maximum transfer limit imposed in the mobile app
8.	Tailored solutions for diverse needs	Room for improvement in the web platform and mobile application
9.	Exceptional customer support
10.	Local presence with more than 25 branches globally
11.	Option to set exchange rate alerts
12.	A longstanding industry experience
13.	Comprehensive educational resources

Founded: 1996
Headquarters: London, UK
Trading Highs: Currencies Direct smashed a record in 2021, with a trading volume that soared to an astronomical £9.5 billion. And that’s across all the currencies they support;
Trustpilot Rating: In the rep department, Currencies Direct is sitting pretty with a shiny 4.9/5 Trustpilot rating. It’s a heavyweight champ sharing the top spot with TorFX and Send Payments;
Client Count: 25 years and counting, Currencies Direct has been on a roll, serving over 430,000 clients;
Global Reach: Currencies Direct is a real globetrotter, supporting fund transfers in over 200 countries and territories on all continents. So, wherever you are, chances are, they’ve got you covered. The company currently supports over 70 different currencies, and that list is ever-expanding;
Transfer Limits: When it comes to sending money, Currencies Direct lets you start as low as a single euro. On the other end of the spectrum, there’s a €25,000 cap if you’re using their mobile app. However, if you’re looking to transfer up to a cool €300,000, they have you covered. All you need is to ring one of their dealers and place a special request;
Fees and Rates: No one likes fees, right? Well, Currencies Direct has you in mind. Their transfer fees are exactly 0. They also take the cake with some of the most favorable markups on their exchange rates. Depending on your chosen countries and currencies, you’re looking at a range between 0.4% to 1.4% added to the mid-market exchange rate;
How to Send and Receive: The company enables its customers to fund their money transfers via a bank account, check, or credit or debit card. Just one heads up here – recipients can only get funds in their bank account. Currencies Direct doesn’t play the cash pick-up game;
Language Support: If you’re worried about language barriers, don’t be. Their web platform and customer support cater to a multitude of languages – German, English, Italian, French, Swedish, Spanish, Korean, Portuguese, Norwegian, and Chinese;
Regulatory Approval: Sleep easy knowing that Currencies Direct is authorized as an Electronic Money Institution (EMI) by multiple regulatory bodies, including:
- the Financial Conduct Authority (FCA) in the UK;
- the ACPR in France;
- the Bank of Spain in the EU;
- the FinCEN in the USA;
- the FSB in South Africa;
- the FINTRAC in Canada.
Mobile App: Currencies Direct’s mobile app, available on Google Play and the App Store, holds a steady 3.5/5 stars rating. You can check exchange rates, initiate transfers, add recipients, manage currencies through an online wallet, set up exchange rate alerts, track your transfers’ status. and much more;
The Trophy Cabinet: Here, we’re talking about a company that’s made the rounds in the awards circuit. Currencies Direct boasts a Level 1 Credit Rating by the Dun & Bradstreet Corporation and has been awarded the Best Rated Money Transfer by the Money Transfer Comparison from 2019 to 2021. Other notable recognitions include:
- Finalist in the National Business Awards in 2016);
- Multiple wins by the Money Age Magazine as a Best Money Transfer Provider from 2016 to 2021);
- Consumer Champion of the Year (Money Age Magazine, 2017).
Customers’ Opinion: Currencies Direct holds a high reputation among users, boasting a 4.9/5 Trustpilot rating. While they’ve faced minor criticisms regarding extra documentation and recipient bank fees (which, by the way, are often out of their control), most clients sing praises about their experience. Some users might dislike their assigned representative, but with hundreds of traders on deck, a switch is just a request away. Here’s a pro tip from the user base: avoid credit cards for transfers to dodge hefty fees from credit companies.

Read our full Currencies Direct review.

2. Remitly

remitly international money transfer review

	Pros	Cons
1.	Extensive global coverage	Exchange rates can sometimes be substantial
2.	No minimum transfer limit when sending	Doesn’t provide dedicated account managers
3.	Excellent customer service	Not great for large money transfers
4.	Deals with a heap of currencies	No option for instant custom quotes
5.	Worldwide locations for cash pickup
6.	Decent Trustpilot rating
7.	Instantaneous money transfers
8.	Fixed transfer fees
9.	Top-tier mobile app
10.	Plenty of ways to fund your transfer
11.	A knowledge base that’s a treasure trove of info

Founded: 2011
Headquarters: Seattle, WA, USA
Trading Highs: Making waves with an annual trading volume of over $20.4 billion and an impressive revenue of $458.6 million in 2021, Remitly has been making the right moves in all the right places;
Trustpilot Rating: Their efforts have earned a Trustpilot rating of 4.1 out of 5 stars from nearly 40,000 reviewers, which is pretty much the norm for international money transfer services;
Client Count: With over 3 million active customers, Remitly has woven a global network;
Global Reach: The platform enables residents from 28 countries, including Germany, to send money to over 180 countries around the world. Moreover, they support transactions in over 75 official currencies, including several exotic ones that others often overlook;
Transfer Limits: At Remitly, the world is your oyster. Customers can transfer amounts as low as €1 or as high as €150,000, depending on several factors like the countries and currencies involved in the transfer. So, whether you’re sending small change or a small fortune, Remitly has got you covered;
Fees and Rates: Remitly likes to keep things transparent. Their fees are always upfront and clear, ranging between €0.00 and €50.00, with an average of about €3.00 – €7.00. They do add a profit margin of around 1% – 2.5% on the mid-market exchange rate, but hey, we’re all in the business of making some dough;
How to Send and Receive: Users can fund their transfers via various methods such as bank account, credit/debit card, Klarna (Germany and Austria), Passbook (USA), iDEAL (the Netherlands), and SEPA (France). Recipients, on the other hand, can get their money through bank accounts, cash pick-up, mobile wallet, or even home delivery. It’s all about flexibility with Remitly;
Language Support: Their website supports 15 languages and their high-rated mobile app offers a seamless experience for users. The supported languages are German, English, French, Romanian, Dutch, Turkish, Italian, Polish, Chinese, Portuguese, Korean, Thai, Spanish, Filipino, and Vietnamese;
Regulatory Approval: This money transfer provider is regulated by major authorities in the EU, USA, UK, Canada, and Australia. This provides an extra layer of trust, ensuring that your money is in safe hands;
Mobile App: Everyone with a smartphone can experience the amazing Remitly mobile app (rated 4.8 / 5 on Android and 4.9 / 5 on iOS). These high ratings say everything about the convenience and usability of the app;
The Trophy Cabinet: To top it all off, Remitly has racked up quite a few accolades in its relatively short lifespan, including the title of “Startup of the Year” in 2016 and a spot in the “FinTech 50” in 2019;
Customers’ Opinion: Remitly is highly praised online for its quick transfers, competitive fees, and user-friendly platform. The service garners high ratings on platforms like Trustpilot, with users particularly impressed by its speedy delivery, cost-effectiveness compared to traditional banks, and the clarity of its pricing information. However, a few hiccups have been reported in the form of customer service concerns and occasional technical glitches, albeit these issues appear to be infrequent.

Read our full Remitly review.

3. CurrencyFair

currencyfair international money transfer review

	Pros	Cons
1.	Quick international transfers	Absence of cash pickup service
2.	Instant personalized quotes	Lack of personal account managers for individual users
3.	Fixed fee for money transfers	Poor user rating for the Android mobile app
4.	Wide-reaching service coverage	Narrow range of supported currencies
5.	Competitive exchange rates	Limited options for transfer funding
6.	Adequate for both large and small money transfers
7.	Excellent customer service
8.	Alerts for exchange rate changes
9.	Impressive Trustpilot score
10.	Awards for superb performance in the financial sector

Founded: 2009
Headquarters: Dublin, Ireland
Trading Highs: In terms of annual trading volume, this money transfer provider is slaying with a whopping $300 million changing hands yearly;
Trustpilot Rating: Pop on over to Trustpilot, and you’ll find them donning an impressive 4.4/5 star rating. Just like their digital platform, their reputation is solid and robust;
Client Count: The reputation that CurrencyFair enjoys isn’t a fluke. Around 150,000 business and personal clients vouched for them yearly;
Global Reach: CurrencyFair’s footprint covers over 150 countries, making them one of the most widely available global money transfer providers. Currency-wise, they’re more selective, offering a choice of around 20. Sure, it might seem limited, but this narrower focus lets them deliver stellar service, keeping them ahead of the game;
Transfer Limits: They’ve also got one of the lowest bars for entry when it comes to transfer limits, set at a mere €10. So whether you’re a small business hustling hard or just wanting to send some love across the globe, you’re in good hands. On the flip side, they’ve got a chillaxed cap for high rollers, letting them ship up to 10,000,000 in any supported currency;
Fees and Rates: Every transaction handled through CurrencyFair has a low, fixed transfer fee – a straight-up €3.00. No hidden costs, no mind-boggling calculations, and no tasteless surprises. They also throw in a transparent exchange rate markup, typically around 0.45% on the real market exchange rate;
How to Send and Receive: All of that magic is possible via linked bank accounts, whether you’re sending or receiving funds. No gimmicks, no fuss, just good old-fashioned bank transfers. And for those constantly on the go, they’ve got a robust mobile app, giving you 24/7 control over your money matters, no matter where you are.
Language Support: CurrencyFair speaks your language, whether it’s German, English, or French;
Regulatory Approval: Rest easy knowing CurrencyFair is under the watchful eyes of financial regulators in multiple regions:
- The Central Bank of Ireland in Germany and the European Union;
- The Financial Crimes Enforcement Network (FinCEN) in the US;
- The Financial Conduct Authority (FCA) in the United Kingdom;
- The Customs and Excise Department in Hong Kong;
- The Monetary Authority Singapore (MAS) in Singapore;
- The Australian Securities and Investments Commission (ASIC) in Australia.
Mobile App: CurrencyFair isn’t just confined to your desktop; they’ve branched out to the mobile world, providing an app that’s as dynamic as their services. The app’s ratings reflect a tale of two platforms: a slightly bumpy ride with a 2.6/5 star rating on Google Play, contrasted with a smoother sailing on the App Store, where it enjoys a robust 4.4/5 stars;
The Trophy Cabinet: They’ve got a swag bag of awards to back it all up, and they’ve done it all in a short time. Some of the notable ones include:
- Top 100 Startups to watch in 2018 (Silicon Republic);
- Top 20 Fintech Companies in Ireland in 2017 (Irish Tech News);
- Best in Fintech in 2019 (Spiders Award),
Customers’ Opinion: In the universe of money transfers, CurrencyFair is an undisputed fan favorite. Customers are all thumbs-up for its cost-effective transfers, competitive exchange rates, and intuitive platform that makes sending money a breeze. They also value CurrencyFair’s commitment to security, with high-tech measures like encryption and real-time tracking getting serious love. However, no one’s perfect, and a few users have noted hiccups with customer support response times and account verification.

Read our full CurrencyFair review.

4. Revolut

Revolut International Money Transfer Review

	Pros	Cons
1.	Attractive foreign exchange rates	Limited scope of in-app currency support
2.	Zero transfer fees for smaller transfers	A relative newcomer in the financial industry
3.	Broad coverage of services globally	Inefficient for large-scale money transfers
4.	Fast money transfers	No cash pickup options
5.	Exceptional customer support	Complex fee structure
6.	Option to trade in cryptocurrencies
7.	An abundance of contemporary banking features
8.	Wide range of supported currencies for travelers
9.	Comprehensive suite of business-oriented features
10.	User-friendly debit card services
11.	Virtual cards for secure online transactions

Founded: Founded: 2015
Headquarters: London, UK
Trading Highs: Last year alone, Revolut’s annual trading volume skyrocketed to a jaw-dropping $140 billion, a testament to their monumental growth from a fresh-faced upstart to a titan in the industry;
Trustpilot Rating: In the realm of customer feedback, Trustpilot is the ultimate platform, where Revolut commands a solid 4.3 out of 5-star rating. This is a testament to the general satisfaction of their users and epitomizes their commitment to delivering a hassle-free and straightforward banking experience;
Client Count: Revolut’s fan base is burgeoning. Over 30 million personal users and a solid half a million businesses have hopped on the Revolut rocket, enjoying the thrills of modern banking;
Global Reach: Revolut isn’t just about taking banking to new heights; they’re about taking it to new places. Their service is available in over 200 countries and regions, transforming traditional banking from a locality-bound chore to a global fiesta. At the heart of their machinery is their dynamic approach to currency. With 29 different in-app currencies for exchange and withdrawals in 140 global currencies, you’ve got the world at your fingertips;
Transfer Limits: With Revolut, there’s no minimum transfer limit, so you can send anything from a coffee’s worth to a small fortune. Their maximum transfer limit is adaptable, considering factors like your selected plan, sending country, and recipient country;
Fees and Rates: When it comes to fees, Revolut is pretty upfront. For card transfers, they charge a fee of 0.7% within Europe and 2.3% outside Europe. For bank transfers, fees dance between 0.35% and 1%, all depending on the countries, currencies, and transfer amount. The provider offers a transparent approach to exchange rate markups, too. No markup is added on weekdays if you’re sending less than €1,000. Go over that, and a 0.5% markup applies. During the weekend, the markup swings between 0.5% and 2% on that week’s last mid-market exchange rate;
How to Send and Receive: Sending and receiving money with Revolut is a breeze. Send money through your bank account, debit, or credit card and receive directly into your bank account or debit card. All this flexibility is available through Revolut’s online platform or their savvy mobile app;
Language Support: Revolut’s services are available in a variety of languages. Whether you’re an Anglophile, a Francophile, or a Sinophile, they’ve got you covered. German is also among the score of languages they support;
Regulatory Approval: Revolut enjoys authorization by reputable regulatory institutions such as the Bank of Lithuania, the UK’s FCA, the Monetary Authority of Singapore, and the Kanto Local Finance Bureau in Japan;
Mobile App: Revolut’s mobile app is quite the crowd-pleaser, earning a solid 4.7 out of 5 on iOS and 4.5 out of 5 on Android. It’s a stylish, intuitive command center that gives you control over your finances;
The Trophy Cabinet: Revolut’s award gallery is practically bursting at the seams with accolades from the fintech world. From being a top startup to the best fintech employer, they’ve got a stellar resume that only further cements their position as a force to be reckoned with in the financial universe;
Customers’ Opinion: Revolut has garnered mainly positive customer feedback. Customers praise its user-friendly app, comprehensive features, competitive exchange rates, and quick transfers. Despite occasional app glitches and some dissatisfaction with customer service response times, the general consensus remains positive, with users valuing Revolut’s ongoing innovation and diverse services in the competitive fintech arena.

Read our full Revolut review.

5. Wise

wise international money transfer review

	Pros	Cons
1.	Ideal for small transactions	Lack of dedicated currency dealers
2.	Comprehensive global service reach	Cash pickups aren’t an option
3.	Diverse payment methods encompassing bank accounts, debit and credit cards, PayPal, and more	Inadequate for large monetary transfers
4.	Fast money transfers, with half of all transactions completed in minutes and the rest within 0-2 days	Less-frequented countries and currencies might incur high transfer fees
5.	Impressive currency support (over 50 currencies)	No support for lesser-known currencies
6.	Outstanding web platform and mobile app experience	Challenges with customer service
7.	No markups on exchange rates
8.	Widespread local presence with branches in more than 28 countries
9.	Highly rated on Trustpilot
10.	Custom quotes are available without signup
11.	In-depth knowledge repository

Founded: 2011
Headquarters: London, UK
Trading Highs: Leading the game with an annual trading volume of £76.4 billion in 2022, Wise is on a winning streak with revenue just shy of £450 million for the same year;
Trustpilot Rating: Scoring a solid 4.5 out of 5 on Trustpilot, Wise ranks competitively among its competition;
Client Count: Wise’s team of 4,500 employees caters to an impressive client base exceeding 16 million in 2022 and expanding further each year;
Global Reach: Wise’s worldwide services reach more than 170 countries, supporting over 50 global currencies;
Transfer Limits: They don’t skimp on transfer size either. Whether you want to send as little as €1 or aim for the skies with transfer limits reaching up to €6,000,000 or equivalent in other major currencies, Wise has got you covered;
Fees and Rates: With Wise, transparency is the key. They charge a fixed fee, which ranges from €0.2 to €2, as well as a variable fee that typically falls between 0.4% and 0.6%. And when it comes to exchange rate markups? Well, there simply aren’t any – Wise matches the mid-market rates, ensuring customers get the best deal possible;
How to Send and Receive: Wise’s seamless service allows customers to send money using a bank account, credit/debit cards, or Apple/Google Pay, among other options. The recipient receives the money directly into their Wise account, from which they can withdraw it to a bank account, an ATM, or convert and send to other Wise users;
Language Support: Speaking your language? Probably! Wise offers its services in 15 languages including German, English, Polish, Spanish, Romanian, French, Turkish, Portuguese, Russian, Italian, Japanese, Indonesian, Ukrainian, Hungarian, and Chinese;
Regulatory Approval: Wise earned the trust and authorization from top institutions worldwide, like the National Bank of Belgium, the UK Financial Conduct Authority, and the Financial Crimes Enforcement Network in the USA, to name a few;
Mobile App: The Wise mobile app, available on Android and iOS, boasts high ratings on both platforms (4.7 / 5), offering users a secure and easy way to manage their transfers, overview exchange rates, set up payment methods, and hold money in multiple currencies, among other features;
The Trophy Cabinet: Over the years, Wise has been showered with accolades for their trailblazing efforts in the fintech industry, including winning the title of the Best European Startup, appearing multiple times in the FinTech50 list, and ranking among the top 20 best places to work in the UK according to Glassdoor;
Customers’ Opinion: Wise maintains a high 4.5/5 rating on Trustpilot, amassed from hundreds of thousands of reviews, making it the most reviewed company in the foreign currency payments sector. While 91% of these reviews laud the company’s smooth transfer experience, there’s growing concern over document requirements, delayed transfers, and customer service, with a notable increase in negative reviews linked to deactivated accounts and inaccessible funds.

Read our full Wise review.

6. XE

	Pros	Cons
1.	Attractive exchange rates	Absence of dedicated account managers for all users
2.	Broad currency selection	Small transfer fees are imposed on certain small money transfers
3.	Local presence in many locations worldwide	Sparse coverage of less-common currencies
4.	A variety of payment methods	No solid cancellation policy in place
5.	Stellar customer service	Average Trustpilot rating
6.	Extensive global reach
7.	Loads of experience under the belt
8.	Top-notch website and mobile app
9.	Offers instant custom quotes
10.	Swift money transfers with 50% transfers processed within minutes
11.	Provides cash pickup service
12.	Handy exchange rate alerts feature

Founded: 1993
Headquarters: Newmarket, ‎Ontario‎, ‎Canada
Trading Highs: XE reported an impressive annual trading volume of £115 billion in both small and large transactions, according to their latest report;
Trustpilot Rating: The company holds a solid 4.3 out of 5-star Trustpilot rating as of August 2023, placing it among the top-rated international money transfer companies;
Client Count: XE has served millions of customers over the years and now handles money transfers for approximately 150,000 clients annually, boasting over 280 million online visitors;
Global Reach: This company provides services in over 170 countries worldwide, with only about 20 exceptions, making it a reliable option for global money transfers. They also offer a multi-currency digital wallet that supports over 50 different currencies, depending on the customer’s country of residence;
Transfer Limits: XE imposes no minimum transfer limit, allowing customers to send as little as €1. Maximum transfer limits vary by location, ranging from €350,000 for UK and EU residents to NZD $750,000 for those in New Zealand.
Fees and Rates: XE charges transfer fees for small money transfers in Europe, but transfers exceeding £250 in the UK (or €250 in the EU) and all transfers outside Europe are free of charge. Additionally, their exchange rate markups vary based on factors like location, currency, and payment method, with an average range of 0.2% to 1.4% above mid-market rates;
How to Send and Receive: XE supports various payment methods, including bank account, direct debit, credit/debit card, PayID, BillPay, Interac, and BPAY. Funds can be received in an XE online account and withdrawn to a linked bank account or collected in cash at one of XE’s 500,000 global locations;
Language Support: XE supports multiple languages, including German, English, Arabic, Spanish, Swedish, French, Italian, Portuguese, Chinese, and Japanese;
Regulatory Approval: XE is regulated by various financial authorities, including FinCEN in the US, OSFI and FINTRAC in Canada, FCA in the UK, and ASIC in Australia;
Mobile App: The platform’s mobile app, rated 3.5/5 stars on Android and 4.3/5 stars on iOS, offers a range of services, including international and domestic transfers, transfer tracking, exchange rate alerts, managing multiple currencies in an online wallet, live currency rate monitoring, and more;
The Trophy Cabinet: XE hasn’t received the recognition it deserves from the finance community which isn’t the case with most of its competition. However, they did receive the a prestigious award from Canstar in 2021 – the International Money Transfers Outstanding Value Award;
Customers’ Opinion: This recognized money transfer provider receives predominantly positive reviews for its competitive rates, low fees, and reliable services, despite occasional complaints about higher rates, non-responsive staff, and platform issues. With over 50,000 recommendations for their user-friendly interface, affordable exchange rates, and exceptional customer service, the relatively few mixed reviews citing transfer delays don’t significantly impact their overall positive standing.

Read our full XE review.

7. MoneyGram

moneygram international money transfer review

	Pros	Cons
1.	A top-rated mobile application	Less ideal for handling large financial transfers
2.	Availability of cash pickup	A possibility of substantial transfer fees
3.	Beneficial loyalty rewards program	Limited maximum transfer amounts
4.	Diverse options for receiving funds	Lack of hedging options for businesses
5.	A vast range of payment methods	Above-average exchange rate markups
6.	Robust currency portfolio including 58 different currencies
7.	Outstanding customer support
8.	Impressive rating on Trustpilot
9.	Extensive global presence, covering over 200 countries and territories
10.	Extensive industry experience
11.	Swift money transfer services

Founded: 1940
Headquarters: Dallas, Texas, US
Trading Highs: Let’s take a second to appreciate that while exact transaction figures are under wraps, MoneyGram’s whopping revenue of $1.3 billion in 2022 hints at a massive trading volume;
Trustpilot Rating: Sporting a solid 4.5 stars on Trustpilot, it’s safe to say their game is strong;
Client Count: Check this out! In the last five years, MoneyGram has wooed over 150 million folks into trusting them with their greens;
Global Reach: Boasting a staggering 380,000 locations across 200+ countries, they’re pretty much everywhere you look. Here’s the kicker about their currency support: they handle around 60 currencies – and yes, that includes those rare ones others shy away from;
Transfer Limits: With MoneyGram. There’s zero minimum limit on your transfer amount. A maximum of €10,000 for most countries online and a sweet $25,000 for a select 42 countries if you’re sending from the U.S;
Fees and Rates: Variable fees based on various factors but if you’re stateside with a checking account, expect to bag some savings. Fees can be as friendly as $0-$15, but shoot up to $100 in unique situations. MoneyGram’s exchange rates range from 1% to 5% over the mid-market rate – a bit pricier but, hey, it beats what most banks would fleece you for;
How to Send and Receive: Whether you’re into bank transfers, plastic money (Hello, MasterCard, Visa, and Discover), or the good ol’ cash – MoneyGram’s got you For recipients, the company offers the option of bank accounts, debit cards, mobile wallets, or good old-fashioned cash pickup – they’re flexible. Some places even get doorstep delivery;
Language Support: If English ain’t your jam, they’ve got a myriad of languages to pick from. From German to Arabic, they’re ready to assist you in the language you speak;
Regulatory Approval: With a watchdog list including the Financial Conduct Authority in the UK, the National Bank of Belgium in the EU, and FINTRAC in Canada (just to name a few), your bucks are in safe hands with MoneyGram;
Mobile App: Sitting pretty on both iOS (4.9/5) and Android (4.7/5) platforms, their app ensures you’re just a thumb-press away from global transactions.;
The Trophy Cabinet: MoneyGram’s shelf is stacked! With honors like the PYMNTS Innovator Awards and a place on The Dallas Morning News’s Top 100 Places to Work, they’re not just in the game –; they’re acing it;
Customers’ Opinion: Wondering about real-life feedback on MoneyGram? Trustpilot reveals a strong 4.5 out of 5-star rating for the company. Users frequently highlight MoneyGram’s speed, efficiency, and user-friendliness. While its customer service is generally praised, some customers do point out higher fees and occasional tech issues. Yet, the overall sentiment is that MoneyGram provides a reliable and convenient money transfer experience, even if it’s not the cheapest option available.

Read our full MoneyGram review.

8. WorldRemit

worldremit international money transfer review

	Pros	Cons
1.	Wide local presence with offices in 15 nations	Not ideal for transferring large sums of money
2.	Excellent policy for transfer cancellations	Lacks business solutions like forward contracts and limit orders
3.	An abundance of payment methods	Numerous criticisms pertaining to customer service
4.	Competitive foreign exchange rates	No personal account managers are available
5.	Instant, personalized cost estimates
6.	Comprehensive global service availability
7.	Strong coverage of over 70 unique currencies
8.	Cash pickup services are available
9.	Comprehensive and informative knowledge base
10.	Small transaction fees
11.	Mobile digital wallet features
12.	Swift funds transfers

Founded: 2010
Headquarters: London, UK
Trading Highs: Making waves in the money transfer biz, WorldRemit pulls in a cool 1.5 million transactions every month, which translates to a whopping $10 billion annually. And if we’re talking dollar bills, they made a smooth $399.4 million in 2021;
Trustpilot Rating: Rocking Trustpilot with nearly 70,000 reviews, WorldRemit proudly holds its head high with a 3.9 out of 5-star rating. Not the highest in the game, but hey, it’s solid;
Client Count: 5.7 million folks worldwide trust WorldRemit with their green, and that number is only heading north;
Global Reach: Want choices? Send money from over 50 countries and spread the love to more than 145 countries globally. WorldRemit shines especially for Africa-bound transactions, supporting a wild 70 different currencies.
Transfer Limits: Whether you’re sending a buck or a grand, WorldRemit’s got your back with transfers as low as €1. Depending on where you’re sending from and how you’re doing it, you could push out anything between €1,000 to €50,000 in a single move;
Fees and Rates: Keeping it real, their transfer fees are both low and fixed, ranging from a neat $0.99 to $3.99, depending on a few variables. After some digging, we found WorldRemit’s exchange rate markup sits between 0.5% – 2.5% above the mid-market rate. On an average day, you’re looking at about 1% to 1.6%;
How to Send and Receive: They’re not playing when it comes to payment methods. From Apple Pay to POLi, Interac to Klarna/SOFORT, they’ve got the works. And for the recipient? Choices galore with bank accounts, mobile wallets, cash pickups, and even home deliveries in certain areas;
Language Support: No hablas inglés? WorldRemit has multilingual vibes with German, English, Danish, French, Dutch, and Spanish;
Regulatory Approval: With global standards on lock, WorldRemit is stamped with approval by big names like the FCA in the UK, FinCEN in the US, the National Bank of Belgium, FINTRAC in Canada, AUSTRAC in Australia, FSPR in New Zealand, and Japan’s FSA;
Mobile App: Sleek, user-friendly, and highly rated. WorldRemit’s app rocks a 4.7 on Google Play and a 4.8 on the App Store;
The Trophy Cabinet: New kid on the block? Maybe. But WorldRemit’s trophy shelf is groaning under weight. Some standout mentions include Best Practice in Remittances by UN’s IFAD, multiple nods from Deloitte and Sunday Times, and shining spots in Investopedia’s “Best for International Transfers” for 2021 and 2023;
Customers’ Opinion: Online reviews highlight WorldRemit’s positive reputation, with users praising its affordability, transparency, and user-friendly platform. The company’s low fees, competitive exchange rates, and variety of payment options are often well-regarded. While customer service is generally appreciated, some mention slow response times. Despite occasional feedback on refunds and transfer delays, most customers express satisfaction with WorldRemit’s services.

Read our full WorldRemit review.

9. Western Union

	Pros	Cons
1.	Excellent mobile application	High markups on exchange rates
2.	Robust currency handling	Elevated transaction fees
3.	Diverse payment methods	Absence of hedging options for businesses
4.	Fee and rate prediction tool	Not optimal for substantial money transfers
5.	An abundant industry experience
6.	Availability of cash pickup locations
7.	High rating on Trustpilot
8.	Beneficial rewards scheme
9.	Exceptional convenience
10.	Comprehensive information repository
11.	Worldwide service reach
12.	Rapid fund transfers

Founded: 1851
Headquarters: Denver, CO, United States
Trading Highs: Western Union reigned supreme in 2017 with a trading volume of over $300 billion. This represents an astonishing 32 transactions every second, allowing them to capture a 20% share of the global market;
Trustpilot Rating: With a commendable 3.9 out of 5 stars on Trustpilot, their service quality is evident;
Client Count: Western Union has a colossal customer base, serving 150 million individuals annually, which eclipses the population of Russia;
Global Reach: Except for Iran and North Korea, Western Union’s vast network spans globally with 550,000 agent locations. Handling around 130 global currencies, they cater to an extensive range of monetary needs;
Transfer Limits: WestenUnion prioritizes small transfers, having no minimum limit. You can send up to €50,000, but anything above €3,000 requires identity verification;
Fees and Rates: Depending on various factors, transfer fees usually range between $0-$15 to as much as $100. Western Union’s markups can range from 1% to 5% above the mid-market rate;
How to Send and Receive: You can send funds using bank accounts, cards, or cash at agent locations. For receiving, options include bank accounts, mobile wallets, or cash pickups;
Language Support: Catering to a global audience, they support numerous languages, including German, English, Finnish, Italian, Norwegian, Polish, Turkish, Russian, Ukrainian, Dutch, Spanish, Danish, Chinese, Swedish, Portuguese, French, and Japanese;
Regulatory Approval: Western Union operates under the authorization of regulatory bodies like the FCA, AUSTRAC, and FINTRAC. In the US, they’re approved in 49 states and the District of Columbia;
Mobile App: Their acclaimed mobile apps for both iOS (4.8/5) and Android (4.6/5) make global transfers seamless;
The Trophy Cabinet: Western Union is no stranger to accolades, having won multiple awards, including the Consumer Payments Innovation Award in 2021, The Payments Innovation of the Year award in 2016), and The Regional Partner award in 2019 among many others;
Customers’ Opinion: Western Union boasts a notable 3.9 out of 5 stars on Trustpilot, with customers frequently lauding its user-friendly interface, quick transfer times, and vast global reach. However, some users express concerns about higher fees and exchange rate markups, and the customer service experience can be inconsistent, with occasional long wait times and communication challenges.

Read our full Western Union review.

10. VertoFX

vertofx international money transfer review

	Pros	Cons
1.	Competitive foreign exchange rates	Not ideal for individual money transfers
2.	Zero transfer fees	No iOS-compatible mobile application
3.	Digital wallet supporting multiple currencies	Relatively inexperienced in the international money transfer market
4.	Robust currency offerings with 51 global currencies	Extensive verification documentation needed
5.	Worldwide service reach spanning over 200 nations	Lack of real-time custom quotes
6.	Diverse payment methods
7.	Peer-to-peer currency trading marketplace
8.	Exceptional customer support
9.	A plethora of business FX options
10.	Flexibility with no set lower or upper transfer limits
11.	Fast money transfer services
12.	Excellent Trustpilot score
13.	Comprehensive informational resources

Founded: 2017
Headquarters: London, UK
Trading Highs: Each year, over $4 billion flows effortlessly through VertoFX’s digital doors, thanks to their powerhouse of over 100 dedicated employees. From software architects to customer care professionals, they maintain the VertoFX machinery in a squeaky clean condition;
Trustpilot Rating: And the proof’s in the pudding – with a Trustpilot rating of 4.5 out of 5 stars, VertoFX is obviously not just about the talk. This team’s doing things right, with thousands of adoring customers giving them a digital thumbs up.
Client Count: Speaking of fans, VertoFX can boast over 3,000 corporate clients who have picked them for their international money transfer needs.
Global Reach: These customers hail from over 200 countries, each choosing VertoFX for a safe, smooth, and speedy financial journey. Whether they’re sitting in Germany, South Korea, or anywhere in between, VertoFX is there to ensure their money makes the trip safely. With this provider, they’re given the keys to 51 global currencies, many of which are exotic treasures circulating in prominent African countries. From a dollar to a denar, VertoFX has got you covered;
Transfer Limits: Money moves can start as low as €1 or go sky-high, thanks to VertoFX’s zero limit on maximum transfers. Now, that’s super convenient for large-scale businesses moving big bucks.
Fees and Rates: To sweeten the deal, VertoFx’s money transfers roll out without any fees. The cherry on top? The company offers a minimal exchange rate markup of about 0.2%-0.6% on the mid-market exchange rate. That’s definitely more bang for your buck compared to traditional banks and most similar services;
How to Send and Receive: VertoFX keeps it flexible, allowing you to send money via bank account, mobile wallet, credit card, or debit card. On the flip side, receiving money is a breeze with direct transfers into your bank account or mobile wallet.
Language Support: VertoFX may speak only one language – English – but in the world of global finances, English is the universal language we all speak;
Regulatory Approval: The company is regulated by some highly authoritative bodies, like the DNB in Germany and the rest of the EU, the FCA in the UK, the FSCA in South Africa, and the Central Bank of Kenya. So, rest easy, your money’s in safe hands;
Mobile App: With VertoFX, you can manage your transfers through their digital platform or try their handy app – well, if you’re an Android user that is. iOS users, hang tight – your app is still in the making.
The Trophy Cabinet: Despite being a young player in the money transfer industry, VertoFX’s excellent service has been decorated with the Best Cross-Border Payments Infrastructure award in 2022 by the Payment Awards. But let’s be real, their biggest reward is their customers’ satisfaction and loyalty – and that’s an accolade that truly counts.
Customers’ Opinion: Street talks and online reviews sing praises of VertoFX’s customer service, quick transfer speed, and user-friendly platform. But they don’t shy away from noting some hitches – the absence of an iOS app, occasional transfer delays, and a somewhat lengthy verification process. However, VertoFX’s sterling 4.5 Trustpilot rating indicates these are minor glitches in an otherwise smooth financial journey.

Read our full VertoFX review.

Conclusion

Let’s tie this all together! We’ve embarked on a virtual journey, popping in and out of the offices of the 10 best money transfer companies in Germany. We’ve sifted through their features, scrutinized their exchange rates, and poked around in their app interfaces. And what’s the take-home message here?

The German financial landscape is brimming with innovative, customer-focused options that are truly redefining how we move our hard-earned euros from Point A to Point B. These companies aren’t just facilitating transactions – they’re reinventing the wheel and ushering in a new era of financial freedom and convenience.

It’s also not about picking the “best” one but about finding the right fit for your specific needs. For instance, if you’re looking for speedy transactions, give Wise a try! Do you want an app that feels like it was custom-designed just for you? Then Revolut’s your best buddy. Maybe you’re more into earning rewards while you transfer? Western Union’s loyalty program is calling your name.

It’s good to know that these companies aren’t just convenient but also as secure as Fort Knox. They’ve got your back, ensuring your money reaches its destination safe and sound. Now, that’s priceless.

In the end, the best money transfer company for you is the one that gets your cash where it needs to go, on your terms and your timeline. So, make note of your criteria, take these providers for a spin, and see who comes out on top in the realm of your personal finance.

F.A.Q.

Are these money transfer companies only useful for large transactions?

Absolutely not! Whether you’re sending a hefty sum to a business partner or just splitting a dinner bill with a friend, these companies cater to transactions of all sizes. It’s all about the convenience and flexibility they offer.

How did you determine the 10 best money transfer companies in Germany?

We didn’t just go with the biggest names or the flashiest apps. We looked at a range of factors, from user reviews to transaction speeds, exchange rates, security measures, and even the user-friendliness of their platforms. It’s a holistic view of what makes a money transfer company stand out.

Can I use these companies if I’m not based in Germany?

Most of these companies have a global footprint, so you’re good to go, even if you’re not in Germany. But always check their service areas and rates for your specific location to make sure it’s the right fit for your needs.

What about cryptocurrencies? Do any of these companies handle them?

As of now, the focus of most of these companies is on traditional currencies except for Revolut which supports crypto trading. But given the rapid changes in the finance landscape, we wouldn’t be surprised to see crypto make its way into mainstream money transfer soon. So, watch this space!

What’s the fastest way to transfer money?

Speed can depend on several factors, including the transfer method, the destination, and even the time of day. However, companies like Wise, XE, and Revolut are known for their speedy transactions. Note that fast speed might come with a higher cost, so consider your needs and balance them with the associated fees.

Why didn’t traditional banks make the list?

While traditional banks offer a plethora of services, when it comes to money transfers specifically, these highlighted companies often edge out in terms of speed, fees, and user experience. That’s not to knock the banks – they’re just playing a different ball game!

Are there hidden fees I should be aware of?

While many of these companies pride themselves on transparency, it’s always wise to deep-dive into their terms and conditions or FAQs. A little homework never hurt anyone!

How often do these rankings change?

The financial landscape is ever-evolving. While this list captures the current top players, it’s always good to keep an eye out for fresh entrants or game-changers. We recommend revisiting such rankings annually for the most up-to-date insights.

Can I use multiple services at the same time?

Absolutely! There’s no rule against having accounts with multiple transfer services. In fact, it can be smart to compare rates in real-time and get the best bang for your buck.

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