Sending money ?
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There are many ways to send money to Germany:

Cash – You can send cash from another country, by using one of many different money transfer organisations, and your family can pick up cash in Germany from an agent or branch.

Card-to-card – You can send your money by using a bank card and the person you’re sending to can collect the money in cash at an ATM or the money can be spent in stores where the card is accepted.

An International Money Order (IMO) – Your bank will give you an international guaranteed cheque and your family can then cash the cheque at their bank or pay it into their bank account.

Bank to Bank Transfer – If you have a bank account you can transfer money from this to a bank account in another country. The method used is often called a SWIFT transfer – this is the name of a transfer system. New bank to bank transfer systems are also steadily launching, such as Ripple’s real-time gross settlement (RTGS) system which can enable real time international cross-border payments between banks.

Online – Many money transfer companies now let you transmit through the internet (online). You need to set up a special account and then the company will send the money to your friend’s bank account or make it available for the money to be collected as cash.

Mobile – sending money through mobile phone, and smartphone is an area that is developing all the time due to new technology and increased smartphone ownership and usage. For example, it is possible to send money for collection from many countries into the Philippines Globe GCash, or Smart Padala International mobile wallets. When received this money can be collected as cash at many cash pick-up centers, or it can be received directly into a mobile wallet and be used for paying bills, loading mobile airtime, online shopping or for withdrawals at ATMs.

There are several components to the true total cost when sending money to Germany.

• Transfer fees: This is the most visible cost and can differ significantly among different companies. This fee usually represents the charge the sender pays and can vary depending on the amount sent.
• Receive costs: Receivers may sometimes be charged additional costs when receiving money. Funds sent for cash collection at a Money Transfer Operator (MTO) or MTO agent will not normally incur additional charges. Money received in a bank account can sometimes be subject to additional foreign exchange or other bank charges that the sender has no knowledge of before sending. These costs will be taken off of the final receive amount. Further receive costs can include charges when cashing out at a mobile money agent.
• Exchange Rate Fee: Normally, when calculating the exchange rate an organisation adds a “margin” – often called a “currency conversion fee”. This results in them making additional money from your transaction and is normal practice in the money transfer and banking industry. This is often a hidden charge, so you are advised to compare the rates offered by different providers