www.geldtransFAIR.de

About us

The Website

 

GeldtransFAIR.de is the official German remittances price comparison portal. This website allows you to independently compare remittance services to over 20 countries free of charge. The data are updated every two months, and are collected using clear criteria.  Please find information and explanations on the comparative tables here: "the data in detail".


The website is carried out by the project ‘Migration and Development’ at the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).

Methodology and selection of countries

Transparency and access to information are important requirements for any market – including the financial market. They not only help people decide whether or not to use a specific service, they also make the market more efficient. Unfortunately, transfer costs in the money transfer market are not very transparent. Information about the costs of the entire transaction, the exchange rate applied, any exchange rate margin, or even the speed of the transfer affects every potential transfer, but not every provider explains this information simply and clearly.


GeldtransFAIR.de provides consumers with this information. The website contributes to price transparency on the German money transfer market by collecting certain information centrally and presenting it online.


Currently, GeldtransFAIR.de offers an overview of the options of sending money from Germany to 24 countries.

The countries were selected among partner countries of German development cooperation mainly on the basis of the volume of remittances from Germany, the share of the target country population in Germany, and the share of remittances compared with the target country’s GDP, and were modelled in collaboration with the German Federal Ministry for Economic Cooperation and Development (BMZ) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

Data collection

The prices and other information shown on this website were collected by mystery shoppers. An independent outsider contracted by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH plays the role of a potential remitter and finds out what prices and fees a given transfer service provider charges. The list covers between 13 and 15 transfer service providers for each corridor, and includes important money transfer operators and major banks, savings banks and online banks.

The information is checked every two months. The individual collecting the data is not affiliated in any way with the transfer service providers shown here, so that the website is completely independent of the remittance market.