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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Regency FX makes the transfer of money to Germany painless. How?
Well, at Regency FX we help you achieve the most from your international money transfers from Germany and, therefore, from the currency you are converting.
As an independent currency specialist we have lower overheads than the banks which enables us to pass on the savings to you making the cost of your transfer of money from Germany to UK more acceptable for our clients.
International money transfers from Germany has never be more cost effective. We can discuss and agree on the right time to exchange your money rather than using a bank or online-only system and having to accept the rate they give you on the day.
All money transfers from the Germany to UK are conducted through safeguarded client accounts.
There are four simple steps when transferring money from Germany to the UK: identity check, get an exchange rate, make your payment, and finally your money is sent out.
1. Identity check
Before you can send money from Germany to the UK, you need to be identified. There is a legal obligation to verify customers sending money internationally due to global anti-money laundering regulations.
This check only applies to new customers. Once your account is set up, you can skip this step if you are sending money to the UK regularly.
For British expats in Germany, it is usually straightforward. If you still have a UK address, the process is even quicker.
2. Lock in an exchange rate
Once you are set up, a bank or money transfer company will quote you their current exchange rate.
When moving money to the UK, you are selling Euros (EUR) and buying Pounds Sterling (GBP). The exchange rate fluctuates throughout the day. It’s up to you whether you proceed at the quoted rate.
If you decide to go ahead, the bank or money transfer company will lock in your rate, and you will receive an email confirming the transaction details.
3. Pay for your money transfer
Banks usually require your Euros upfront before agreeing on an exchange rate.
A money transfer company, however, may allow you to lock in a rate before sending your Euros. This is advantageous if you see a favourable rate and want to secure it before it changes.
The confirmation transaction will provide the bank details for sending your Euros to a safeguarded Euro-denominated client account.
4. Your Euros are converted into Pounds
Once your Euros are with your bank or money transfer company, they will be converted into Pounds Sterling at the agreed rate and sent to the UK bank account you specify.
There are two main options for transferring money from Germany to the UK: using a bank or a money transfer specialist.
Banks may seem convenient since your money is already in your account, but they often have high fees and daily limits. Banks also provide limited support for international transfers, as it is not their primary focus. Banks typically specialise in small payments.
Money transfer specialists, on the other hand, have lower costs and specialise in larger or regular transfers.
There are two main costs involved, these are:
Most people are aware of the transfer fees but not so many people are aware of the exchange rate costs!
Transfer Fees are a standard fee charged per transfer.
Generally, the main banks will charge these fees.
A lot of money transfer companies will not charge this fee.
The Deutsche Bank in Germany charge €11.55 or 0.15% of the total amount of money.
The Commertzbank charge €12, €25 or €75 dependent on the amount of money you are sending.
Compared to the UK banks, the German banks have high fees.
UK banks normally charge £15 to £30 per transfer just for reference!
To avoid paying fees like this then use a money transfer specialist!
Exchange rates are not standard, every bank and money transfer company set their own.
Most companies make their money from the exchange rate.
Banks do not have very competitive exchange rates.
Many people will still go with their bank as they're not aware that there are other options out there.
The main banks in Germany charge 1.5% to 3% in exchange rate costs.
For a €100,000 transfer you would be paying €1,500 to €3,000 in exchange rate costs!
The larger the amount of money you send, the better the exchange rate that is offered.
Transfers from Germany to the UK usually take 1–3 working days, depending on public holidays, time zones, and the banks involved. Daily cut-off times are typically around 4 pm; transfers after this are processed the next working day.
Germany to UK transfers are safe if you choose a regulated money transfer company. Ensure the provider is authorised by the Financial Conduct Authority (FCA).
FCA-regulated companies must keep your money in a separate, safeguarded client account. You can verify a company’s FCA status via the online FCA register.
The exchange rate is one of the main factors when it comes to transferring money abroad.
With a transfer of €200,000 a change as tiny as 1% could cost or save you €2,000!
Small changes like this are very common and frequent!
It is difficult to pick the best time to exchange money.
Online-only operators such as PayPal and TransferWise will not offer the same service as they a do-it-yourself platform.
This basically means that you need to get all the information and enter it yourself, this can lead to multiple mistakes and that can cost you a lot of money.
These platforms thrive with the smaller, irregular amounts.
Picking the right time to exchange money can save you a lot of money.
Money transfer specialists such as ourselves at Regency FX can assist you through the process, watch the rates for you and even notify you if the rate moves in your favour!
No, they are not.
A lot of online platforms such as XE, Oanda and Daily FX provide live rates.
The rates that you are seeing on here are not actually available to customers!
They are known as ‘interbank rates’ and they are only available for the banks themselves or large financial constitutions.
They are not even available to large corporations that trade in the millions every day!
To make sure you get a real quote, make sure to get it from a money transfer company or a bank!
You need to know that your money is safe when being transferred abroad.
The main way in which you can check to see if they are safe is by checking to see if they are regulated by the FCA (Financial Conduct Authority).
If they are regulated by the FCA then they are required to keep your money in a separate, safeguarded client account, away from the company’s funds.
You can check to see if a company is regulated by the FCA, you can check on the FCA register online!
Regency FX are a UK based independent currency broker, specialising in high volume transfers.
We pride ourselves on our premium level of customer service, you will be allocated your own personal account manager whom you will have direct access to.
All funds transferred through Regency FX are made using client segregated accounts in accordance with the FCA (Financial Conduct Authority) guidelines.
The important thing is the comparison, online rates shown on Google and other search engines are not always accurate for the consumer.
They can often refer to the rates that banks exchange at rather than what is available to you, the customer.
We can monitor the market on your behalf enabling you to budget more effectively.
As a first-class currency transfer service, here at Regency FX we endeavour to get competitive exchange rates regardless of how much you are transacting.
Get a quote and see how we stack up.
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