Sending money to and from Germany: SEPA and international transfers

Who needs it

Anyone who moves money across borders: paying a deposit before arrival, transferring savings, paying tuition, or supporting family abroad. The rules and costs depend mostly on which currency the money is in.

SEPA (Single Euro Payments Area) covers the 27 EU countries, Iceland, Liechtenstein, Norway, Switzerland, the United Kingdom, Monaco, San Marino, Andorra and Vatican City.

When

Plan larger transfers a few days ahead. Standard international transfers can take several working days, and your bank may ask questions about large amounts under anti-money-laundering rules.

What you need

• The recipient's name exactly as on the account.
• Their IBAN (and for many non-SEPA countries a BIC/SWIFT code or local account number and bank code).
• The purpose of the payment. Some countries require it.
• For large amounts: proof of where the money comes from, if your bank asks.

How to do it

Euro transfers inside SEPA

1. Use your online banking or app and choose Überweisung (transfer).
2. Enter the name and IBAN. Since October 2025 banks check whether the name matches the IBAN (Verification of Payee) and warn you if it does not.
3. Choose a normal transfer (usually next working day) or an Echtzeitüberweisung (instant transfer).

Under EU law, your bank must charge the same for a euro transfer to another EU country as for a domestic one. Instant euro transfers must reach the recipient within about 10 seconds and must not cost more than a standard transfer.

Transfers in other currencies

1. Check what the recipient will actually receive, in their currency.
2. Compare three things across providers:
   • the fixed fee;
   • the exchange rate used, compared with the mid-market or ECB reference rate;
   • any fees charged by intermediary or receiving banks.
3. Check the charge option for SWIFT transfers: OUR (you pay all fees), SHA (fees are shared) or BEN (the recipient pays). With SHA and BEN, the recipient gets less than you sent.
4. Check the delivery time and whether the recipient can collect cash or needs a bank account.

Exchange-rate markups: the hidden cost

A transfer advertised as "free" can still be expensive. Many providers use an exchange rate that is worse than the mid-market rate and keep the difference. On large amounts this markup can cost more than any fixed fee.

For currency conversions within the EU, providers must show the conversion charge as a percentage markup over the latest ECB reference rate before you pay. For transfers to countries outside the EU, compare yourself: take the amount that arrives and divide it by the amount you pay.

What happens afterwards

Keep the confirmation. If a transfer is stuck, your bank can trace it with the reference number.

Common problems

How long does a transfer from Germany take?

A standard SEPA transfer usually arrives by the next working day. SEPA instant transfers take seconds. International transfers outside SEPA can take several working days, depending on the route.

Why did the recipient get less money than I sent?

Usually an intermediary or receiving bank deducted a fee (SHA or BEN charge option), or the exchange rate was worse than expected. Ask your bank for the charge breakdown.

I sent money to the wrong IBAN. Can I get it back?

Contact your bank immediately. Your bank must make reasonable efforts to recover the money, but it cannot force the recipient to return it. The name check since October 2025 helps prevent this.

My bank froze a large incoming transfer. Why?

Banks must check unusual transactions under anti-money-laundering law. Provide the documents they ask for, such as a sale contract or proof of savings.

Costs

Euro transfers within SEPA are often free or included in your account fee. For other currencies, costs combine fixed fees, exchange-rate markups and bank charges. Always compare the final amount received.