It is a good thing that Canada and Germany are popular with money remittance services, and since this is a fact, you will have no worries about sending money from Germany going to Canada.
If you are new to money transfer, you may need to find out more about the services that are available in Germany so you will have some idea of the ups and downs of sending money using a bank or a money transfer company.
Send Money to Canada from Germany
First Transfer Free!
- Wise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
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- Save up to 90% compared to banks. No hidden costs. Large selection of countries.
First Transfer Free!
- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
How long does it take to transfer money from Germany to Canada?
Usually, the longest that your recipient will have to wait is three days, and the shortest is within 24 hours.
Fees will vary, so the best option is to compare and read reviews online. Some companies will have a free transfer fee if it is your first time to send money using their company, and there will be fees for repeat customers. Other companies or banks will also have a corresponding fee, depending on the amount that you will send.
There are advantages and disadvantages when you use a bank over a money remittance company and vice versa. Some remittance company is even better when it comes to bank transfer cause they can give you better exchange rates and will charge you a bit lower as compared to using a bank to do the transfer of money.
Send money from Germany to Canada with the bank
Using the bank may be your first consideration with sending money to Canada. Yes, they may also offer competitive rates and charges for sending your money from Germany to Canada, but they may not give you the best exchange rate option.
Some banks can give you a fair exchange rate, but they may sometimes have hidden charges. This is what you should be aware of, so you are not surprised and caged when you need to pay at the end of the transaction.
Transfer money from Germany to the Canada with a money transfer provider
The only way you can save money using the money transfer provider is when you do the following;
- Compare and check your options. Find the best selections and do not just get the service of any money transfer provider promising you a free money transfer, see where they are profiting from such offers.
- If you can send a sizeable amount of money to your recipient, do so instead of sending a smaller amount regularly. You will save more by sending every month instead of a week or worse if it is on every few days basis.
- Is there a maximum limit that you can only send and will double the charges just to send the amount that you need to send in the first place?
- Find the best transfer company where they have a bigger limit, so you will save on the transfer fees with this option.
- How much do you have to shell out? Pay attention to the total cost. Do not just send money in a hurry, but make sure you are getting your money’s worth. See the total cost first if you are to use a certain money transfer company.
- How much is the exchange rate of the remittance company? The difference and your decision will depend on this as well? If one company has a better exchange rate, this will help you decide faster on which company to use for your money transfer transactions.
- If the money is not to be used for emergencies, then you may opt to pay for economy fees where the fees are lower, but the recipient will not receive the money in a few hours, but in a day or two.
Saving money while transferring money from Germany to Canada is possible as long as you know what to do and you are smartly sending money. Think of which platform you will be able to save money on, and thereby you can send more to Canada.
Is it by using the bank that can charge more with sending fees while giving you a lower exchange rate, or by using a money transfer company that has a competitive exchange rate and lower sending fees? It is your call and is up to your preference.