Online bank transfers from Germany to U.S.

33 posts in this topic

Posted

Hi,

I'm interested in finding out whether people are aware of ways to transfer funds from a German bank to a US bank online, and vice versa, without having to deal with a bank representative or phone system?

I realize this is possible with a Citibank to Citibank account, but is anyone aware of other banks that offer this feature? If so, which banks are they, and what restrictions and costs are there, if any.

Thanks,

Dave

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Posted

all German banks offer online banking which allow you to make international bank transfers. Can't comment on US banks.

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Posted

That may be true, but my German Citibank account restricts online transfers to other Citibank accounts, which is less than ideal for me. Needless to say, I'm a demanding bank customer :o

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Posted

It appears that transfers to a U.S. bank can be made online via DeutscheBank up to 12,500 EUR. Never tried it personally though.

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Posted

I am not going to retype everything I wrote regarding doing bank transfers to the US because there are several posts out here on that topic (that I'm not going to search for myself).

Do a search on XETrade on TTown

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Posted

It appears that transfers to a U.S. bank can be made online via DeutscheBank up to 12,500 EUR. Never tried it personally though.

But they charge a shedload of fees, ask first how high they will be.

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Posted

We do it all the time with HypoVereinsBank. You have to set it up in person first and then simply punch in the figure you want to transfer online thereafter.

Are you sure that CitiBank won't allow a predefined transfer destination to be set up for online banking? Would it not be easier to simply get a Citi account in the states, or are you looking at transfering to various banks?

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Posted

i transfer every month from my postbank account to my wells fargo account in the u.s. i do an "BEN" transaction, and my u.s. account charges me $10 a pop, the postbank only €1,50.

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Posted

I chose Citibank here because I had heard they have a English-language website, and they have branches worldwide. Do these other banks such as Hypo..., Postbank, etc.. offer English-language websites too?

I'm in the process of opening up a Citibank account in the US, but I'd prefer to continue using my US account (at a different bank) for transfers from Germany.

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Posted

Deutsche banks online banking is also available in English.

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Posted

When I was in Munich, I just needed to make monthly transfers in small amounts (to pay bills). I found that for small monetary amounts, it's cheapest to just send money via Paypal. Their exchange rate is pretty shitty, but the difference between that and the interbank rate is much less than what you'd pay in transfer fees (sending and receiving) for small amounts. When sending larger amounts, on the order of thousands, it's much cheaper to do a direct bank transfer.

One funny thing happened when I went to transfer a couple thousand from my German bank account to my US one when I moved. My German bank (Hypovereinsbank) gave me three options for taking care of the fees. They said I could pay €25 (the full fees) on their end, €12 in Germany and half the fees in the US or just pay all the fees on the receiving end. I opted to just pay all the fees on the receiving end, because my US bank just charges $12. Glad I checked first.

For anyone who might need to know - Hypovereinsbank does NOT do transfers outside the EU online, only within the EU. Other transfers have to be done in the branch.

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Posted

I just checked Postbank and didn't see an option for a BEN transaction.

I wire money to Canada via xe.com or ex.com can't remember the currency exchange people, its cheaper than the bank 10 vs 25 and I have no fees on the other end. It can also done online, once you've made the transaction you transfer the requried amount to their German bank.

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Posted

I'm in the process of opening up a Citibank account in the US, but I'd prefer to continue using my US account (at a different bank) for transfers from Germany

If your Boston bank is Bank America, check out Deutsche Bank - they're alliance partners so might be worth investigating.

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Posted

I just checked Postbank and didn't see an option for a BEN transaction.

that's not what it's called. sorry for not being specific. at the end of the transaction (in my case, i did an international transfer with Bank Code or you can do SWIFT , it asks you to choose if the sender pays all fees, it gets split up, or the receiver pays all fees (BEN-Zahlung: Kosten trägt der Empfänger -- receiver pays all fees).

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Posted

this isn't really on topic, but wahoo! my bank at home let me transfer money from one account to another (granted w/in the same bank) all over the phone!

i didn't think they would! but they didn't even ask my name just the account numbers

(hmm... perhaps it's a sketchy bank b/c that sounds a bit suspicious...) :)

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Posted

It appears that transfers to a U.S. bank can be made online via DeutscheBank up to 12,500 EUR. Never tried it personally though.

I know this is an old post, but has anyone out there been successful at this? I have tried before but got a stranger error and was curious if people are using BIC, SWIFT, or just the regular acct. number and bank name to make the transfer.

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Posted

Check out xetrade. Works great, better rates than your bank will give you.

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Posted

Yup, I do it all the time using my US bank (Wells Fargo) account number and national bank code (SWIFT?). WF has all the proper formatting info for incoming international transfers on their website, so I just plugged it all into my DB online banking site once (leaving the IBAN and BIC fields empty), then saved it as a template to reuse each month.

You can also choose whether to pay fees on the sending or receiving side; I do receiving, which is a flat $11.

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Posted

I know this is an old post, but has anyone out there been successful at this? I have tried before but got a stranger error and was curious if people are using BIC, SWIFT, or just the regular acct. number and bank name to make the transfer.

I do it all the time to B of A. I just use the Bank routing number, Acct. number and bank address.

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Posted

Thanks, doughnut man! That is one great site for Canadians.

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Posted

Check out xetrade. Works great, better rates than your bank will give you.

XEtrade works good for me too. I haven't got direct comps on the rates from the bank, but the fees they have quoted me have been pretty hefty. That said, I rarely transfer more than EUR5K so the bank may not be interested in the trade for the spread alone. For EUR10K they may think differently... maybe.

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Posted

@Melia

I use DB and was told I had to do international transfers (Germany to US via Wells Fargo) only at my branch! I tried online, but couldn't find how to transfer out of the EU...could you provide more details? here or a PM would be fine too! thanks!!

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Posted

I use DB and was told I had to do international transfers (Germany to US via Wells Fargo) only at my branch! I tried online, but couldn't find how to transfer out of the EU...could you provide more details? here or a PM would be fine too! thanks!!

I just logged in to check. I thought maybe it wasn't available in the English version of DB banking, but it was there for transactions of up to 12,500€.

1. Log in

2. Click on 'your account'

3. Select 'overseas remittance' from the left

4. Select 'Foreign payment order'

5. Provide the necessary info/TAN

NOTE: I have never done such a transfer with DB. I have made intra-Europe EUR transfers and have made transfers to the US using XETrade/Custom House, but I have not used DB directly for transfers to the US. It should, however, work. It might, though, be expensive.

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