Transfer Money to Germany From Australia

1. Gather Recipient Details: Collect all necessary banking information from your recipient, including their full name as it appears on their account and the correct bank account details. Ensuring these are accurate will help your transfer arrive smoothly and on time.
2. Set Up Your OFX Account: Create a free online OFX account to begin your money transfer online, or log in if you already have one. Once logged in, you can get a live quote for your transfer and see exactly how much your recipient will receive.
3. Enter Transfer Details: Fill in your own details along with your recipient’s information, including the amount you wish to send and the currency conversion. OFX will show the transfer fees and exchange rate upfront, so you know the total cost before confirming.
4. Send Your Money: Once everything is verified, send your funds to OFX. They will then securely transfer the money to your recipient in Canada, typically within 1–2 business days, depending on the recipient’s bank.

1. Log In to Your Account: Access your OFX account by logging in. If you don't have an account, you can create one for free.
2. Select 'Send Money': Navigate to the 'Send Money' section on the dashboard to begin a new transfer.
3. Choose Currencies: Select the currency you're sending from (e.g., USD, GBP) and the currency you're converting to (EUR).
4. Enter Amount: Input the amount you wish to send. OFX will display the exchange rate and the recipient's amount after conversion.

Recipient's Details:

1. Recipient's Name: Ensure the recipient's name matches the name on their bank account to avoid delays.
2. IBAN and BIC/SWIFT Code: For transfers to Germany, you'll need the recipient's Bank Identifier Code (BIC/SWIFT) and the IBAN (International Bank Account Number). Which is the standardised account number used across Europe.
3. Additional Information: In some cases, you may be asked for the recipient's bank name and address.

Understanding the Fees and Exchange Rates

Transparent Fee Structure:

1. Transparent Fee Structure: OFX offers competitive rates with no hidden fees. The exact fee structure may vary based on the currencies involved and the amount being transferred.
2. Real Exchange Rates: OFX provides real-time exchange rates, ensuring you get the best value for your money.

1. Bank Transfer: Fund your transfer by transferring money from your bank account to OFX. This is often the most cost-effective option.
2. Other Payment Methods: Depending on your location and the currency, other payment methods may be available.

Review Transfer Details:

1. Review Transfer Details: Before confirming the transfer, review the summary of your transaction, including the amount sent, fees, exchange rate, and the recipient's amount.
2. Confirm and Pay: Complete the payment using your chosen method.

1. Real-Time Tracking: OFX provides real-time tracking of your transfer.
2. Notifications: Receive email notifications at each stage of the transfer process, from initiation to completion.
3. Tracking Link: Use the unique tracking link provided to monitor the progress of your transfer.

1. Direct Bank Deposit: The recipient in Germany will receive the full amount directly into their bank account.
2. No Recipient Fees: OFX does not charge additional fees on receipt, ensuring the recipient gets the full amount sent.
3. Bank Processing: The money is deposited directly into the recipient's bank account, typically within 1-2 business days.