Sending money abroad safely

Before sending money to family abroad, compare how much they will actually receive and check who will handle the transfer. A “zero fee” advert does not tell you the exchange rate, other charges or whether the delivery route is safe.

Choose the route and check the provider

1. Establish the destination, currency, recipient’s exact legal name and whether delivery is to a bank account, wallet or cash-pickup location. Ask the recipient to confirm bank details through a known independent channel, especially if a message says the account changed.
2. Find out which company you are entering into an agreement with when you use the app, shop or agent. Check the authorisation and permitted service in the BaFin register and, where relevant, the named EEA home regulator’s official register. Match the company’s identity and contact details; a similar name or copied licence does not verify an advert. If an agent collects cash, identify the authorised principal. Avoid informal cash handovers with no verifiable regulated provider.
3. Check whether a euro SEPA transfer is suitable. The bank-account guide explains covered euro/IBAN issues. A transfer in another currency or outside the relevant European rules does not automatically receive every SEPA timing or cost protection.

Compare the complete quote before authorising

Compare offers for the same amount, destination and delivery method at the same time. Save a screenshot or document showing:

• The total debit in euros, all sender fees, exchange rate and any conversion margin.
• The amount and currency expected at the destination, and whether intermediary/recipient charges can still reduce it. Ask who bears these charges and which part is only an estimate.
• The promised delivery date, cut-off time, recipient identification or pickup requirements, and what happens if the recipient cannot collect.
• The cancellation, error-reporting and complaint contacts, and the legal company responsible.

Article 248 section 4 lists provider, cost, exchange-rate, execution and remedy information for the payment framework it governs. Obtain the terms for your actual transaction; a family member’s experience in another country or last month’s quote is not a promise for yours. Never share passwords or confirmation codes with someone claiming they need them to receive the money. Stop and check any name/IBAN mismatch warning instead of automatically overriding it. The euro-area recipient check is not a worldwide verification system.

Check restrictions and reporting

Ask the provider whether the exact destination, beneficiary and purpose can lawfully be served and what identification or source-of-funds evidence is required. Check the Bundesbank’s financial-sanctions information for relevant restrictions; do not split or reroute a payment to evade them.

Under the Bundesbank’s current guidance, the German-resident reporting threshold for covered incoming or outgoing payments with non-residents is more than 50,000 euros, or the currency equivalent, since 1 January 2025. Residence matters, not nationality; own-account transfers are excluded. Other exceptions depend on the transaction. A bank’s automated AWV notice does not prove that your payment is reportable. Check the Bundesbank’s actual case and reporting route before a large transfer. Statistical reporting is separate from any gift-tax or other tax question.

If the money is delayed, wrong or fraudulent

Keep the receipt, transaction reference, account details, quote and correspondence. Ask the provider through its official channel to trace a missing payment and explain its status. Report wrong recipient data or suspected fraud immediately and request a stop/recall if possible. Under section 675p, an order generally cannot simply be revoked after the payer’s provider receives it, subject to the statutory exceptions; recovery is not guaranteed. For an execution error, ask which remedy applies to the actual transaction and complain in writing if unresolved. Use scams and payment recovery for the urgent fraud steps.