Top Secret Ways to Send Money to Germany From New Zealand

Ways to Send Money to Germany From New ZealandThere are a host of reasons to send money to Germany from New Zealand. You might need to send money to loved ones, for business, or a multitude of other reasons. Here at the Currency Shop, it’s important to us that you get the best possible value for money and given the amount of information out there, find the best way to transfer your money internationally can be overwhelming.

To help you out, we’ve put together a guide below of all the options we think are best in terms of convenience, ease, and value.

For a quick comparison table of exchange rates and fees, click here.

This guide will cover reasons why you might transfer money and the recommended methods, as well as your general options to transfer money to Germany:

  • Personal transfer – sending money to family or friends in Germany
  • Business transfer
  • Buying or selling a property in Germany
  • Studying Overseas
  • General costs of sending money to Germany
  • Your options to send money to Germany
  • Information you’ll need for the transfer
  • General information

While using the same currency, there are differences if you’re transferring to Italy. This article is all about transferring money to Italy if you need it. 

Personal transfer from New Zealand to Germany

You can set up a personal transfer from New Zealand to Germany through a number of methods:

  1. Use your bank: All New Zealand banks will support the Euro (EUR), however, while it is an option they will charge you a high international transfer fee, as well as an uncompetitive exchange rate.
  2. Use money transfer companies: These companies will offer you a better exchange rate and lower fees. Here are some providers that transfer money from New Zealand to Germany:

Our recommendation is OFX due to great value on transfers between NZD and EUR.

Business transfer from New Zealand to Germany

If your business is transferring money between New Zealand and Germany, there are two critical things you must consider when finding the best option:

  1. The exchange rate margin: This is the difference between the wholesale exchange rate ( and the rate you will get.
  2. Business products they offer such as forward exchange contracts, foreign currency accounts and limit orders.

You can use any of the money transfer companies listed above if you wish. Our choice for business transfers to Germany are HiFX– their exchange rates and zero fee structure will allow you to maximise your overseas receipts or payments. They also offer Foreign Currency Accounts which are helpful if you would like to hold the funds in a foreign currency and exchange them at a later time.

You can watch a short video on Foreign Currency Accounts here.

Buying or selling property in Germany

If you are looking to buy a property in Germany, or have sold your property in Germany and are needing to send the money back to New Zealand, we recommend that you look for a provider that has a strong presence in both countries. This will give you local support on either side, as well as the flexibility you may need leading up to the settlement.

Our choice would be TorFX for property settlement transfers, as you (the are assigned a local account manager that will be licensed in New Zealand and have a strong global support network to guide you when needed.

Studying overseas

As much as we would like them to, tuition fees aren’t getting any cheaper. Annual payments to universities or other education providers, along with all other expenses, can really add up abroad. As these payments can be large, you need to know the best method of payment before moving your funds.

  • For larger payments, you should be looking at the exchange rate you’re getting as this will largely affect the amount of money you will get in the foreign currency at the end.
  • For smaller payments, you should keep an eye on the transfer fees.

There are many methods of transferring funds abroad, but we would say HiFX as they are great for saving on those hefty costs when paying bills.

General costs for sending money to Germany

Time to put together the fees. Calculating the costs can be difficult, as nearly all fees, charges and exchange rates are dependent on how much are you sending, method of sending and method of receiving. The most common fees are as follows:

  1. A transfer fee
  2. Exchange rate margin: the difference you pay between the wholesale exchange rate on and the rate you actually get
  3. Bank fees: The fees that your bank will charge for sending the money to the correct account overseas.
  4. Receiving bank fees: The fees the receiving bank will charge you for converting into the correct currency.

Your options to send money to Germany

There are various methods of sending money to Germany:

Via your bank

Using your bank is an easy and quick way to transfer money and it can normally be completed in 3-5 business days depending on your bank. Generally, they will have uncompetitive exchange rates which make them unattractive if you’re sending large amounts of money abroad.

Check with your bank and research the fees and exchange rates based on the amount you plan to send over.


Paypal is a convenient and highly popular way of transferring money abroad. It’s by far the quickest with transfers being completed within minutes (dependent on the type of transfer). It is great for smaller amounts under $1000NZD. Although the exchange rate is equal to that of banks, the fees are slightly less. It’s particularly handy if you are paying from your own Paypal account directly into another.

A money transfer company

There are an overwhelming number of money transfer companies out there – some older but trustworthy, and other more tech-savvy companies newly emerging. In general, these companies are your best option when transferring larger amounts of money (anything between $1000 – $1,000,000NZD). Different companies will have various minimum and maximum amounts set, and the transfer itself will usually take around 1 business day longer than banks or Paypal.

You will need to create an account with the company before sending the money – you can do this online:

  • Register your details on the website – you will likely need I.D handy
  • Account needs to then be approved, and you’ll get your login details
  • Enter the bank details of where you are sending the money i.e. the ‘Beneficiary’ or ‘Recipient’
  • You will get a quote based on the fees and exchange rate for sending the money
  • If you are happy, confirm the details including the given rate.

Information you’ll need for the transfer

You’ll need the details of the bank account you are sending the money to i.e. the Beneficiary or Recipient details. These details will be:

  • Account name of your Recipient
  • Their address
  • Their SWIFT code

SWIFT codes

Swift codes for the biggest banks in Germany:

Deutsche Bank AG : DEUTDEFFXXX

Commerzbank AG : COBADEFFXXX



General Information

There are pros and cons to every method of payment you choose. Paypal and money transfer companies like Western Union are your fastest options, with transfers being completed within minutes. They will not offer a competitive exchange rate but are arguably a lot more convenient. Banks will take 1-2 business days and other money transfers companies will take roughly 2-3. Keep in mind these companies will be the most cost effective.

Check the details of your chosen method, as all will have their own restrictions, fees and charges. Banks and Paypal will not have a minimum amount, but most money transfer companies will so check before you send.

Case Study

Katharine has moved from Germany to New Zealand on a working holiday visa. She will be in New Zealand for at least a year and has decided to set up a bank account with ANZ.

Katharine wants to send home some money to her brother for his birthday and decides to do it through her bank. ANZ processed it fast, with minimum hassle and her brother receives the payment exactly on his birthday.

What Katharine didn’t realise is by transferring outward international payments, the exchange rate and the fees are all deducted from the amount being transferred and converted. This meant that when Katharine’s brother told her how much he received, she was upset to know he didn’t get the amount she wanted him to. Consequently, Katharine sent another transfer to make up the difference, costing her, even more, money in fees.

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