International Money Transfers

° TIPANET transfers, an initiative of cooperative banks, cost usually around EUR 7 flat and are in many cases the cheapest and fastest way to transfer larger sums internationally.

° SWIFT transactions are another good way for larger sum transfers internationally, from your own domestic account to your own foreign account. The fees are part-fix, part-commission, about EUR 4 fix, and about 0.175% of the amount, however, a minimum amount of about EUR 15 is to be expected. These fees vary by bank and are just an indication.

° PayPal is a convenient, but relatively expensive way to transfer larger sums internationally. The fees are usually about 3-5%.

° XE is by far the most convenient and economic way to transfer large sums internationally once one has established accounts. It is fast and convenient, especially for repetitive usage.

° More FOREX companies can be found here.