Transferring Money To Germany? Here's What You Should Know.

Before moving to Germany, you should really try to learn more about the German currency and how to send money there so that you have cash when you arrive. You can send money through various different ways. However, knowing where to start when it comes to banking and money is very helpful. Consider some of the following:

Before opting for a specific way to transfer the money, take a quick look at some economic facts. In 2002 the German currency changed to Euro’s but before that it used to be the Deutsche mark.

Taking your money in and out of Germany is easy. Many people choose to carry the other country’s currency into Germany to be converted to euros when on arrival. However, remember to alert the customs authority of imports and exports exceeding €12,500.

German Banks and Systems

Germany’s banking hours are similar to those of the United States and United Kingdom. Most of the banks open at 9 am and close at 4 pm on weekdays. They are open for a few hours on Saturday and Sunday. Pretty much all of them allow customers to make online transfers and use ATM services any time they wish. Therefore, you’re not going to encounter any challenges adjusting to German’s banking hours and rules. It is essential to fully familiarize yourself with these facts before you transfer money to Germany.

As mentioned earlier, there are some ways you can employ when sending money from your UK account to a German account. If you use SWIFT transfers, the funds will be available within a business day. As for regular bank transfers, they might take a few days to clear. Therefore, the method you choose will be guided by the urgency within which you require the money.

Usually, German banks offer more services than those provided in most countries. In a typical bank, probably the only thing you are allowed to do is to open a savings or a checking account. Surprisingly, German banking services offer clients a chance to invest, gain insurance and even access qualified advice on real estate investment.

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