Factors that impact your transfer to Germany
Germany has been an economic powerhouse for the past decade. It has the highest GDP in the Eurozone and is one of the most stable economies in the world. Led by outspoken leader, Angela Merkel, the country has an influential voice on both European and international affairs. These factors combine to make Germany’s economy and currency, incredibly valuable.
However, several details impact the standing of its currency at any given moment. When you transfer money to Germany, keep this in mind:
When you transfer money to Germany, you’re transferring money to greater Europe
In order to become a member of the Eurozone, a country must meet certain economic requirements. Once a country is approved in the “group,” that country is affected by the varying fiscal policy decisions taken by other member states. So while you’re moving money to Germany, Italy's fiscal policies may be playing a role in the exchange rate.
To understand where the Euro will be in the future, it’s important to consider the overall European economy. You can talk through your currency transfer to Germany with your account manager.
Increased political instability in the Eurozone can impact your money transfer to Germany
The fact that Germany is so closely tied to other Eurozone states in terms of currency means that the currency could be in for a period of volatility. While there is always some level of discord within Europe, the past year has shown an increase in unrest.
Italy is trapped under a mountain of debt, in what some are now calling a slow motion crisis. French sentiment is trending populist, with Marie Le Pen narrowly losing the Presidency. Mariano Rajoy returned to the helm of Spain after the country spent nearly a year leaderless, only to find it more fractured than when he left. And the entirety of Europe is dealing with an immigration crisis, the enormity of which cannot be understated.
Factors outside the Eurozone also impact your money transfer to Germany
The turmoil isn’t limited to just Euro member states. The rise of populism in the developed world is impacting the relationship of various currencies. For instance, Brexit might seem to not impact the relationship between the USD and the Euro, but since the United Kingdom is such a close trading partner with both nations, it could have sweeping effects. Already we are seeing the dollar gain on the Euro in response to Brexit conversations, and many expect that trend to continue.
When transferring money to Germany, speak to your account manager about your options. There are strategies that combat volatility that could be right for you.
What we offer when you transfer money to Germany
Spot contracts for transferring money to Germany
So called because they’re done ‘on the spot’, this allows you to secure a rate and transfer money to Germany straight away. This is the ideal option if you’re a busy person and just need to get things moving as soon as possible!
Forward contracts for transferring money to Germany
Like to plan ahead? Then forward contracts could be for you. They allow you to lock in an exchange rate now and make your payment later. In fact, you can secure a rate up to three years in advance. If you are transferring money to Germany in the future, let us know, we can help!
Recurring payments to Germany
Recurring payments allow you to transfer money to Germany at regular intervals you determine. Once the recurring payment is set up, we'll convert your funds quickly, reliably, and securely. You can choose if you want your money converted at the rate on the day you transfer money to Germany. Either way, take solace in the fact that a monthly transfer of money to Germany doesn’t have to be a monthly paperwork (or bank line!) affair.
Send money to Germany
Great exchange rates are here!
WorldFirst can not only save you money on your transfer to Germany, but we’ll also save you time with our straightforward process. We’ll remove the stress by giving you your own personal contact that’s available to speak with you about your transfers, rates, and concerns. If you need to transfer money to Germany, we’re here for you within 3 rings!
Whether it’s for work or play, we’ll save you time and money when you transfer money to Germany.
So come on, join our club. You’ll like it here!
More about WorldFirst
WorldFirst is an award-winning, constantly evolving international fintech business that specializes in the payments space, specifically currency exchange, international wire transfer, and foreign exchange. We are here to help our clients with sending money abroad, launching an international business, moving abroad to work and much more!
WorldFirst’s outstanding customer service makes it a leader in the foreign exchange market. We are available to help manage cross border payments 24/7 – just give us a call and we can help with live forex rates, international payments, or money transfers anywhere in the world.