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Top 3 Money Transfer Providers for Germany to USA

Provider Amount Received Fee Exchange Rate Speed
TorFX TorFX USD $10,829.66 No Fee 1.083 1-3 days more...
OFX (UK) OFX (UK) USD $10,697.63 No Fee 1.0698 1-4 days more...
Moneycorp Moneycorp USD $10,720.49 No Fee 1.072 1-3 days more...
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GERMANY
Being a member of the single currency Eurozone, Germany does not impose any currency controls and has completely deregulated all individual and business transactions between residents and non-residents Read More
USA
The dollar, the world’s most traded currency, is held on a free-float exchange rate and is fully convertible to foreign currencies Read More
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Top 9 Money Transfer Providers

Latest prices for transferring money from Germany to USA
Exchange Rates as of 1 April 2020, 17:06

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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FXcompared
Score
Amount Received
USD $10,829.66
EUR €207.77
saved vs. banks

OFX (UK)

Est. 1998

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

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FXcompared
Score
Amount Received
USD $10,697.63
EUR €86.83
saved vs. banks

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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FXcompared
Score
Amount Received
USD $10,720.49
EUR €107.77
saved vs. banks

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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FXcompared
Score
Amount Received
USD $10,862.42
EUR €237.77
saved vs. banks

Global Reach (formerly FC Exchange)

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

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Amount Received
USD $10,818.75
EUR €197.77
saved vs. banks

Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Amount Received
USD $10,817.66
EUR €196.77
saved vs. banks

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
USD $10,829.66
EUR €207.77
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More InfoLess Info
Amount Received
USD $10,807.83
EUR €187.77
saved vs. banks

RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
More InfoLess Info
FXcompared
Score
Amount Received
USD $10,818.75
EUR €197.77
saved vs. banks

How to Transfer Money from Germany to USA

What is in this guide

Germany to USA Guide

Summary

As a member of the EU, Germany enjoys a strategic and collaborative partnership with the US on a variety of issues, including trade and investment agreements, global policy alliances, and global safety initiatives. Currently, there are no restrictions for German citizens who want to transfer money from Germany to the US.

Visas, work permits and residency

German citizens who wish to live or work in the US must apply for the appropriate visa or be granted permanent resident status. There are a variety of visitor and work visas. The type and duration of the work visa that will be required depends on the applicant’s profession and current employment status. For more information on visa requirements, please refer to the US Embassy website.

For most foreigners who plan to visit the US for a period of up to 90 days, a visitor or business visa is still required. However, American authorities have waived this rule for citizens of Germany, as well as several other countries in Europe. For short stays, German passport holders need only register online through the Electronic System for Travel Authorization (ESTA). For stays of more than 90 days, an immigrant or non-immigrant visa is required.

Buying property in the US

There are few restrictions for German citizens who wish to own or rent property in the US. Before making a purchase, however, foreign nationals will need to obtain an Individual Taxpayer Identification Number (ITIN), which is required for all property transactions in the US. German citizens must provide their ITIN upon close of the transaction in order for it to clear. To obtain an ITIN, the buyer must apply with the national tax authority, the Internal Revenue Service (IRS). This process may take five weeks or longer, so it is advisable to take this step early in the process. Once the ITIN is issued, the buyer can then easily transfer from Germany to the US for their property purchase. Working with a licensed real estate attorney or real estate agent is advisable, as they can guide German citizens on regional and federal real estate laws, which differ state by state.

Taxation

In 1989, Germany and the US entered into a tax treaty for the avoidance of double taxation of citizens living and working in either country. For German citizens living and earning money in the US, a tax return must still be filed with the German government, but citizens may be eligible to receive tax credits based on what they pay in the US. If taxes are owed to the US government, there are no restrictions to transfer money from Germany to the US to make these payments.

Studying in the US

US educational institutions require a student visa before non-residents can study within the US. However, before a German citizen can apply for a student visa, they must first apply for and be accepted to a US-based accredited school or programme. Once the institution has issued its acceptance, it will supply the necessary documents to the student so that they can apply for the student visa.

Currently, there are two student visas offered by the US government to foreign citizens wishing to study in the US. The F-1 visa, the most common type of student visa, is for academic studies at an approved school or accredited American university. Non-academic or vocational studies require the M-1 visa.

Voting

Like all other non-US citizens, German citizens are not permitted to vote in American federal elections. Historically, voting for federal office has been restricted to citizens of the US. Although states may allow non-citizens to vote, this is rare and limited to local elections in only a few places today.

Healthcare

American healthcare is a pay-as-you-go system, with most American citizens owning some form of health insurance. It is advisable for German citizens who are planning to visit America to purchase travel insurance or a short-term health insurance policy before entering the US.

Importing from Germany to the US

As part of the EU, Germany is one of the leading partners in contributing to one of the largest economic relationships in the world. The US government recognised in 2017 that US-Germany trade accounts for 30% of the total trade between the EU and the US. Goods and services exchanged between the US and Germany amounted to roughly €112bn in 2017. The EU and the US collaborate on a number of trade, investment and global safety initiatives throughout the world. Recently, they entered into discussions for a new trade and investment agreement, the Transatlantic Trade and Investment Partnership (TTIP).

Germany is the US’s single-largest trade partner within the EU. In 2017, Germany imported goods and services worth €46 bn, which equates to roughly $50bn depending on exchange rates, from the US, followed closely by the UK, the Netherlands and France. Considered together, EU countries are the second-largest market for US exports, which drives constant, high-volume money transfers to the US.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from Germany to USA. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.