Transfer fees are a flat fee charged every time you make an international transfer. The transfer fee is the more visible cost however, the exchange rate is the more important cost. Whenever you transfer money from Germany to the UK there are two charges to watch out for: There are pros and cons to each, which you can see below.Ĭosts compared: Banks vs. Banks may be better for small payments as you can utilise your existing bank account. Money transfer companies are generally better for larger transfers due to lower costs. The best way to transfer money from Germany to the UK is a trade-off between cost and convenience. You can use a bank or a money transfer company. When you want to send money overseas, it can seem like you have endless options. The best way to transfer money from Germany to the UK However, my experience is that the big banks can be slower at processing transactions – which can cause delays. In theory, it means transfers should take the same time no matter who you use. It is normally around 4 pm each day – otherwise, it will count as the next working day.īanks and money transfer companies use the same SWIFT payment system to transfer your money. There are daily cut-off times for international transfers that are set by the banks. The time taken will vary because of weekends, public holidays, daily cut-off times, and the efficiency of your UK bank at clearing funds from abroad. To transfer money from Germany to the UK typically takes 1-3 working days for your money to arrive.
Usually, the whole thing is quick and painless. Once your Euros have been received, your bank or money transfer company will convert them into Pounds and send them to the UK bank account you have requested.
Step 4 – Your Euros are converted into Pounds This is done using a normal domestic bank transfer (do online or in a branch). Your email confirmation will include the bank details of where to send your money. If you are happy to go ahead, the exchange rate is locked in, and you will be emailed a confirmation with all the details of your transaction.īefore any money is converted, you need to send in your Euros to pay for your money transfer. The Euro (EUR) to Pound Sterling (GBP) rate changes every few seconds.Ī bank or money transfer specialist will provide you with their latest rates. This is generally a fast, painless process. Most people can be verified using their passport number and address.
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How to transfer money from Germany to the UK Step 1 – Identity checkįor new customers, an ID check is required by financial regulations. I’ve put together this page to explain everything you need to know in plain English. The key is to do it safely and avoid paying high fees and charges. Transferring money from Germany to the UK is quite easy once you understand how it works.