MORE TRANSPARENCY ON THE MONEY TRANSFER MARKET

Your price comparison portal for international money transfers - free of charge and independent

Transparency and access to information are major requirements for selecting a financial service provider, especially with regard to total transaction costs. For one thing, there are the costs of currency conversion (so-called exchange rate fees) and for another, the fees the money transfer operator charges for the transfer itself. Added to this are possible fees charged by the bank in the recipient country.

Not every provider supplies this information in a simple and easily understandable way. Geldtransfair.dedoes: by compiling important information (including overall transaction costs and transfer speed) and making it available online, it helps improve price transparency on the German remittances market and provides you with a simple and fast way to gain an overview of the cheapest providers for your money transfer.

With geldtransfair.deyou can currently compare transfer options from Germany to 27 countries.

The portal is run by the Migration for Development Programme of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ). 

Selection of countries

We cannot include and list all countries. The present country list was selected in consultation with the Federal Ministry for Economic Cooperation and Development (BMZ) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, to the following main criteria:

Data collection method

We compile the fees and other information presented on geldtransfair.deto clear criteria and update them at least every two months. You can find more information on our criteria here: [Insert link]

When collecting data, we apply the so-called ‘mystery shopping’ method: We engage an independent person to play the role of a prospective money transfer customer and find out all the relevant data from a provider. For each remittances corridor, the list comprises 13-15 financial service providers, including the main remittances service providers known as money transfer operators (MTOs) and the larger traditional, savings and direct banks.

The person collecting the data has no connection to the financial service providers featured on our site, so that geldtransfair.deis fully independent of the services offered by the money transfer operator and, hence, improves money transfer market transparency.