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Payments for services are generally exempted from the obligation to register.


Statements that serve statistical purposes and are not forwarded to tax offices must be made.


If the destination account for the transfer is outside the European Economic Area it is worth.

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Cooperative banks, savings banks and online banks receive high fees, depending on the terms and conditions and the amount of money transferred to the USA, Australia, South Africa or China. On the other hand, online providers and their customers can benefit from other processes and calculations.


For classic institutions, you have to know: Firstly, the transaction itself is calculated (SWIFT fee). The fee may be charged by one or both banks. In addition, customers have to pay a premium on the exchange rate. It contains fees for conversion as well as the purchase and sale of foreign currency.

How banks calculate their fees

For example, Berliner Volksbank charges a resolution fee of ten euros for foreign transfers up to 2,500 euros and 1.5 percent of the amount for larger sums. In addition, there will be a brokerage fee of at least five euros for the currency conversion as well as any expenses.

The DKB bills private customers for online banking 12.50 euros for transfers up to 12.500 euros in foreign currency outside the SEPA area and from 12.500 euros one percent of the amount; however, this fee is limited to 150 euros.

For foreign currencies, have courses and fees in mind

Keep your business

Significantly cheaper is a money transfer with one of the young tech companies that often send capital from London to customers around the world. Worldremit calculated for about 12,500 euros, which should go to an account in the US 3.99 euro fee and delivers 13,310.37 dollars.

Even with direct competitors

As a rule, the sender pays TransferPro a fee of 0.5 percent, the receiver nothing. In addition, the company usually handles transfer orders quickly within one hour at the mean of the current bid and ask price of the foreign currency. Banks can not afford that.



Is based on the use of modern Internet technology and the principle that enough people participate. Then there are sufficient transfer orders in the country of the sender and the recipient, which can be offset against each other.