Transferring money by bank transfer from abroad

15 posts in this topic

Posted

Hi from Berlin!

 

Long time lurker, finally registered.

 

I need to transfer some money here by bank transfer as I have run out of cash and my Laiki credit card is useless now due to the bank crisis in Cyprus. I can do the wire transfer via online banking, the problem is I don't have a german bank account. Opening a german bank account is not an option for me as I will be staying here only for another month or so.

 

Any idea how can this be done? Is there a bank or some other service that can be used for this? Basically, wiring the money to an account and then collecting it in cash. Western Union was my first idea but from what I understand it's not applicable for my case.

 

Thanks.

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Posted

Bank to bank transfers are the cheapest and attract the least charges, certainly cheaper than any over-the-counter operations like Western Union. Do you know anyone with a bank account that you trust and can receive the money for you then pay it out to you in cash? There's no risk to them, and no issues assuming the transfer is less than 12500€ (if more then they only need to complete a statistical registration)

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Posted

Unfortunately, I don't know anyone here whom I can ask about this. That would have been the easiest way of course. The sum is below 12500€, about 5000€. Fees are not a problem.

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Posted

 

Hi from Berlin!

 

Long time lurker, finally registered.

 

I need to transfer some money here by bank transfer as I have run out of cash and my Laiki credit card is useless now due to the bank crisis in Cyprus. I can do the wire transfer via online banking, the problem is I don't have a german bank account. Opening a german bank account is not an option for me as I will be staying here only for another month or so.

 

Any idea how can this be done? Is there a bank or some other service that can be used for this? Basically, wiring the money to an account and then collecting it in cash. Western Union was my first idea but from what I understand it's not applicable for my case.

 

Thanks.

 

Please visit a local post office. They provide a service that covers what you want. Why would Western Union not be applicable? According to your description, they do exactly what you want, unless you don't want your account be known, which from my POV would sound fishy.

 

BTW, WU is a German post partner for this kind of service outside of Germany.

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Posted

I haven't used Western Union in years but as far as I understand I can only send money by paying in cash or via credit card. It seems you can also pay from a Giro bank account in Germany but I don't have one. I have a bank account abroad from which I can send a wire via online banking to another bank account. No problem with my bank account being known, btw.

 

What is the post office service for this called?

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Posted

It was called "Postanweisung", but they changed the name. Anyway they will still know, what a Postanweisung is.

The post office can tell you the details how this works and whether you can do that from an account abroad.

It's how worried parents can send stranded offspring some money.

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Posted

From experience you can open a bank account in Germany with an overseas address quite easy. All you need is a passport and some money.

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Posted

From what I have read in other threads it seems opening a non-resident bank account is not so straightforward. Plus there will probably be a minimum amount I need to keep deposited and monthly fees. I will be leaving Germany in a month and won't be needing the account.

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Posted

DKB would probably be a good option for you. Their DKB-Cash account is among those with the best conditions on the market (see comparison).

 

Among the highlights:

 

  • The account is 100% free, with no conditions or strings attached.
  • With their Visa card you can withdraw cash from any bank's ATM, in or outside of Germany, without paying any ATM fees (see here).
  • They also take clients from abroad (see Legitimation from outside Germany) but it's obviously easier to open an account while you're still in Germany, since you can then go through the regular PostIdent process at the Post Office.

 

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Posted

So opening a bank account is the only way?

 

It seems the Postanweisung service is no longer being offered by Deutsche Post (since a few years).

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Posted

There may be other ways, too, but opening a bank account is certainly a very straightforward way to do this.

 

With a free online bank account such as the one I suggested (there are others, too, see comparison here), you'll have solved the problem of how to receive or transfer Euros once and for all.

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Posted

Ok so I tried to open a DKB-Cash account yesterday and was denied. They asked me what I need the account for and a few other details. I was told the package comes with a Visa card which I don't qualify for. Also, I do not speak German, which definitely did not help.

 

Any other ideas?

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Posted

ING Diba and Comdirect also offer free banking without minimum deposits etc. and they (AFAIK) only issue Visa Debit cards with these accounts, so the required credit rating might be lower than DKB with their Visa Credit card.
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Posted

Walk in to your local Stadtsparkasse with your Anmeldebestätigung and passport.

Open the account on the spot (they are not allowed to refuse any customers).

 

It will cost less in monthly fees for the few months you are still staying here than a Western Union transfer.

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Posted

Yeah, maybe just open the sparkasse account and get your money transferred. You can then open a free online account with one of the ones above and keep that in case you ever return to Germany or just need a "safer" place for your money in future (given the problems in Cyprus). You can then close the sparkasse account at your leisure (but don't forget to do so, or you'll be paying fees for years!)

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