1). You can take money in and out of Germany with little hassle. This is particularly important if you decide to take cash to Germany to be changed into the correct currency once you arrive. However, do remember that you have to report to the proper authorities any imports or exports of more than €12,500. Additionally, you should be knowledgeable on the country’s currency, which is the Euro. Currently, 1 U.S. dollar equals .67919 Euro, and conversely, 1 Euro equals 1.47235 U.S. dollars. Be sure to check the exchange rate just before you move to make sure you have the most current numbers.

2). Banking hours in Germany are similar to those in the United States. The majority of banks are open from 9 am to 4 pm on weekdays, with some hours on Saturdays. Most allow you to get out cash from ATMs or make online transfers anytime. Thus, it will likely be pretty easy to adjust to German banking hours, which is helpful before you try to send money to Germany since you will know what to expect.

3). Debit and credit cards are used in Germany. In fact, the EuroCheque card is quite similar to the debit card in the United States, as you can use a PIN to withdraw cash. On the other hand, the Eurocard is a credit card that can be used both in Germany and overseas. Most American-issued cards also work with the German system, which means you can use a prepaid debit card so that you have money on you when you arrive. This convenience could preclude you from having to send money to Germany at all before your official move.

4). There are many ways of sending money to and from Germany accounts. A SWIFT transfer allows the money to be available in one business day, while bank drafts take a few days to clear. More traditional transfers between Germany and another country could take weeks, so consider the amount of time in which you need the money before choosing the method.

5). German banks tend to offer more services than in most other countries. You probably expect to be able to open a checking or savings account and pay bills online at any bank, but German banks might surprise you. They allow customers to invest, gain insurance, and even receive qualified advice on rental properties and real estate. Germany relies quite heavily on its banking system, which might be a refreshing surprise when you compare it with other countries. This means that when you open an account, sending money should be no problem. There are a few types of banks, ranging from public sector commercial banks (Private Geschäftsbanken), credit cooperatives (Kreditgenossenschaften), savings banks (Sparkassen), and the Postbank.

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Another way to transfer money to overseas locations is to use the wire transfer services provided by almost any bank. Check with your bank first, since they usually have a reduced rate for customers. In most cases, you and your relative or friend should have the same bank, though many banks in the United States have an agreement with different banks overseas to transfer money. You do need to know your recipient’s bank account number, and you will have to pay a fee of anywhere from $15 to $45.

The options previously described are usually best for one-time transactions due to the sizeable fees. They are quick methods used to transfer money to overseas countries, but they are not great for regular transfers. Whether you have agreed to help support family overseas or often need to assist a friend in financial need, you should have an inexpensive and easy plan for sending money. For many people, this plan comes in the form of a prepaid debit card.

With this method, you could purchase the card through the selected company and send it to your friend or relative. You could then reload it with money anytime you want, through the computer or by phone. For security purposes, you would simply create a log-in name and password online, and pay a small fee per transaction. It is usually a flat rate of about $5. Your recipient would also pay a fee per transaction, usually less than a dollar each. They could also make cash withdrawals for a fee of just a few dollars. Though this method is not free, it is considerably cheaper than paying hundreds of dollars per month just to transfer money to overseas relatives or friends. If you plan to do so regularly, a prepaid debit card is your best choice.

Whichever method you choose will automatically change the money to that country’s currency. Just remember to take into account the currency and exchange rate of the country you plan to send to. Some countries can really stretch the U.S. dollar so you do not have to send much for your recipient to be able to live well, while relatives in other countries will need much more just to get by.

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