How do I send money to USA from Germany?

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Sending money from Germany (EUR) to the USA (USD) offers a range of options, each with its own benefits and drawbacks depending on your priorities for cost, speed, and convenience. Generally, you'll be looking at either traditional bank transfers or using a specialized money transfer service.

Traditional Bank Transfers (SWIFT)

For a traditional bank transfer, you can initiate an international wire from your German bank (e.g., Deutsche Bank, Commerzbank, or Sparkasse). While SEPA is the standard for Eurozone transactions, transfers to the US must go through the SWIFT network. You'll need the recipient's full name, address, their US bank's SWIFT/BIC code, and their account number. Important: You must also provide the recipient bank's 9-digit ACH Routing Number (also called the "ABA Number") to ensure the funds reach the correct domestic account.

The funds move through a correspondent banking chain, which means an intermediary bank often deducts an "intermediary fee" (usually between $15 and $35) before the money reaches the destination. Bank transfers are reliable for very large amounts (over €50,000), but they are generally the most expensive option. Banks typically add a 3% to 5% markup to the interbank exchange rate, in addition to a flat "Auslandsüberweisung" fee which, according to current fee schedules for major German banks, ranges from €15 to €60 depending on the speed and amount. Expect the process to take 2–5 business days.

Specialized Digital Transfer Services

Using specialized services typically saves you 70–90% compared to traditional bank fees by avoiding the SWIFT network markups.

Wise (formerly TransferWise): Remains the industry gold standard for transparency. As of mid-2024, Wise uses the mid-market exchange rate (google rate) and charges a variable fee starting at approximately 0.45% for EUR to USD. For a €1,000 transfer, you can expect a fee of around €5.34. Transfers are increasingly "instant" (under 20 seconds), though some still take up to 24 hours depending on the funding method (SOFORT vs. Bank Transfer).

Revolut: Excellent for those who already use the app. Revolut allows currency exchange at the interbank rate during market hours. Note that Standard plan users have a monthly fee-free exchange limit (currently €1,000); above this, a 1% fee applies. There is also a 1% surcharge on exchange transactions performed on weekends when markets are closed.

Remitly and WorldRemit: These are highly competitive for smaller, one-off transfers. They frequently offer "New Customer" promotional rates that are slightly better than the mid-market rate for the first $500–$1,000. Once the promotion expires, their margins are generally higher than Wise’s.

High-Value Transfers

For large transfers (e.g., buying property or moving savings over €25,000), companies like OFX, Currencies Direct, or Xe are often the best fit.

These providers offer "Forward Contracts," allows you to lock in an exchange rate for a future date—a vital tool for hedging against EUR/USD volatility. For amounts over €50,000, these brokers can often provide a dedicated account manager and can negotiate a lower "spread" (the difference between the buy and sell price) than automated apps. According to Monito’s 2024 comparisons, OFX becomes significantly more cost-effective as the transfer volume increases.

Regulatory and Reporting Requirements

Compliance is mandatory and strictly monitored for transfers between Germany and the US.

1. KYC (Know Your Customer): For any significant amount, you must provide a scan of your ID (Passport or Personalausweis) and proof of address (Meldebescheinigung).

2. AWV Reporting (Germany): Under the Außenwirtschaftsverordnung (AWV), German residents sending more than €12,500 abroad must report the transfer to the Deutsche Bundesbank for statistical purposes. Failure to do so can result in fines up to €30,000. You can report this via the Bundesbank hotline (0800 1234 111) or the AMS portal.

3. US Reporting: If you are a US tax resident (Green Card holder or citizen) and the transfer is part of a gift exceeding $18,000 (for the 2024 tax year), you may need to file IRS Form 709. Additionally, if the transfer remains in a foreign bank account, remember FBAR reporting requirements for balances over $10,000.

Summary Recommendation

For best overall value and speed: Use Wise. It remains the most transparent for amounts under €20,000.

For large personal transfers (>€25,000): Contact OFX or Xe to obtain a custom quote; their personalized service helps with the bank documentation required for large sums.

Avoid: Using a traditional German bank for amounts under €10,000, as the combination of flat fees and exchange rate markups can easily cost you €50–€100 more than digital alternatives.

Always check a real-time comparison tool like Monito or CurrencyShop at the exact moment of transfer, as rates and fees are updated in real-time.