Send Money to Germany

Sending money to Germany with Rutland FX is simple. Both businesses and individuals can sign up for a free account, provided they meet the criteria on our application guidelines page. Once your account is set up, you can make currency conversions and money transfers directly on our platform or by contacting your account executive.

To send money to Germany with Rutland FX, you have two options: SEPA or SWIFT.

For SEPA, you will need:

• IBAN: The recipient’s International Bank Account Number.
• Recipient’s Name and Address

For SWIFT, you will need:

• IBAN: The recipient’s International Bank Account Number.
• SWIFT/BIC Code: Identifies the recipient’s bank internationally.
• Recipient’s Name and Address

You can easily validate and save these account details on the platform for future use.

The fastest way to send money to France is via SWIFT GPI. This method is highly efficient, with 40% of payments arriving in less than 5 minutes and most payments arriving within 24 hours. In some cases, you can even make an instant international payment to France in EUR. SWIFT GPI also provides easy tracking of your payments through the SWIFT network, ensuring transparency for your international bank transfers. You can monitor your payment directly on our platform.

To make a payment via SWIFT GPI with Rutland FX, simply select ‘Priority Payment.’ If SWIFT GPI is available for your transaction, it will be enabled automatically, allowing you to make a quick international money transfer at no additional fee.

Rutland FX offers UK-based EUR multi-currency accounts in your name or your business’s name, designed to simplify managing your EUR transactions. Whether you’re a business handling German transactions or an individual with financial interests in Germany, our accounts provide a convenient solution. You can hold and manage EUR balances, simplifying cash management and reconciliation. Receiving funds from Germany into your Rutland FX account is easy, and you can convert them back to GBP as needed. For outbound payments, you can hold EUR in your account until you’re ready to send it out.

FAQs: Sending Money to Germany

What is an IBAN and SWIFT/BIC Code for Payments in EUR?

When sending money to Germany via SEPA or SWIFT, the IBAN and SWIFT/BIC Code are required. These codes help identify the recipient’s bank and specific branch in Germany, ensuring the money is directed correctly.

• IBAN: The recipient’s International Bank Account Number. For example, an IBAN could be “DE89 3704 0044 0532 0130 00”.
• SWIFT/BIC Code: Identifies the recipient’s bank internationally. For example, a SWIFT/BIC Code could be “DEUTDEFF”.
• Recipient’s Name and Address

What is the Difference Between SWIFT and SEPA Euro Transfers?

The SWIFT network is the primary method Rutland FX uses for facilitating international payments because it offers speed, traceability, and recallability. With SWIFT, we can track payments along their journey, monitor their delivery status, and there are no limits on the amount you can transfer.

SEPA (Single Euro Payments Area) transfers are used for payments to or within the Eurozone. SEPA transfers typically take 1-3 days to complete and are designed for ease of transactions within Europe. Unlike SWIFT, SEPA transfers may not offer the same level of traceability and recallability.

How Are My Funds Protected?

As an Electronic Money Institution (EMI), Currency Cloud is obligated to maintain adequate capital reserves and ensure the proper safeguarding of customer funds. All funds received in relation to electronic money will be safeguarded in tier-one credit institutions such as Barclays Bank PLC. This ensures that in the unlikely event of our insolvency, administrators would reimburse your funds from the safeguarded funds.

Can I Receive Funds from Germany?

Yes, Rutland FX can provide you with a UK-based EUR account that supports SWIFT transfers. This is particularly useful if you are selling a property or assets in Germany and need to repatriate funds at a better exchange rate. However, we can only onboard you as a customer if you are a citizen or have a residence in, or if your business is registered in, one of the supported countries.

Can I Send Money to Germany Using Other Currencies Besides EUR?

Yes, you can. For example, it is common for businesses and individuals in Germany to hold multi-currency accounts. You can send USD to Germany if the recipient holds a USD account in Germany that supports SWIFT payments.

Are There Any Limits on the Amount of Money I Can Transfer to Germany?

There are currently no transfer limits on SWIFT payments to Germany with Rutland FX. This means you can settle large invoices or move substantial amounts of money with ease using Rutland FX.

How Do I Track the Status of My Transfer to Germany?

Our EUR transfers are sent using SWIFT GPI by default, meaning they will be trackable, traceable, and recallable. You can track your payment directly on the platform or by contacting your account executive. You will be able to see the full journey of the transfer along the SWIFT network, detailing how long it took to arrive and any deductions taken by correspondent banks, if any.

How Do I Cancel or Amend a Transfer to Germany After It Has Been Initiated?

You should always double-check bank details and ensure you want to dispatch a payment before sending funds internationally to avoid delays. However, on some occasions, you may want to cancel a payment. If a payment has been instructed on your account but has not yet been dispatched, you can cancel it on the platform or by contacting support.

If the payment has already been dispatched and the funds have gone to a trusted recipient, the fastest way to get the funds back would be to ask the recipient to send it back to your EUR account with Rutland FX. If not, we can action a recall on the funds; however, this is not guaranteed and may require consent from the recipient if the funds have credited their account.

How Can I Contact Rutland FX Support?

Rutland FX offers live support via telephone and email. Email support is available 24 hours a day, ensuring you can get assistance at any time. Telephone support is available during UK business hours, from 8:30 AM to 5:30 PM.