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The transfer to the USA from Germany

If you want to make a transfer to the USA from Germany, you have various options for doing this, especially over the Internet: PayPal, WesternUnion or Moneybookers.

However, if you don't trust the online offers, you can choose the very secure way of international transfers via the bank. Here the money is transferred from your account to the USA via bank transfer.

Wire transfer to the US through your bank

The form that you need when you make a transfer to the USA is called a "payment order in foreign trade". You need this for all transfers outside of Europe.

The transfer form needs to be executed in triplicate if it represents a transfer outside of a European country. This is no longer necessary within Europe thanks to SEPA (single europe payment area), i.e. standardized payment transactions.

The reason for the three-fold execution of the transfer to the USA from Germany: In addition to you and your bank, the Deutsche Bundesbank also receives a copy.

Make a transfer to the USA from Germany - that's how it works

When you fill out the transfer form for the transfer from the USA to Germany, first enter the known data such as your name, bank code, account number and address, as well as the currency and the amount to be transferred.

As with the SEPA procedure, you must enter the BIC or SWIFT code. The BIC (Bank Identifier Code) is an internationally valid bank code specified by the SWIFT (Society for Worldwide Interbank Financial Telecommunication).

Since the BIC is issued by SWIFT, it is often referred to as the SWIFT code.

Have the recipient data ready

The next step is to fill in the recipient data.

Here you have to enter the name, address, bank name and IBAN number of the recipient of the transfer to the USA. The IBAN is the international account number. You will find this like the BIC code in the account statements.

What should you watch out for when making a transfer to the USA from Germany?

According to §§ 59 ff. Of the Foreign Trade Ordinance, you must provide additional information when making a transfer. In the case of transfers outside of Europe, you must report this in certain cases.

You do not have to report:

  • Transfers up to 12,500 euros
  • Amounts that only concern imports of goods
  • Payouts or repayments of loans and deposits with a term of up to 12 months,
  • Payments with non-residents and transfer through residents

If one of these exclusion criteria does not apply to your transfer to the USA from Germany, you must provide information about the purpose, the movement of goods and the merchanting. The point is to identify unapproved deals.

For transfers to the USA, you've completed this task with seven additional pieces of information:

  1. Is it a merchanting?
  2. The key figure of the service or the goods (can be found in the form)
  3. The country
  4. Details of the performance and the business
  5. date
  6. phone
  7. signature

If you are exempt from this information, your transfer to the USA can be compared to a SEPA transfer.

Important: Always talk to your bank about international transfer fees when making a transfer to the USA from Germany. The fees vary from bank to bank.

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