Wise

Wise is one of the most widely used international money transfer services in the world — and a near-essential tool for expats living in Germany. With its mission of ‘money without borders’, Wise has built a transparent, low-cost alternative to traditional bank transfers for individuals and businesses alike.

The core Wise product is an international account that gives you local bank details in multiple currencies, including a German IBAN. This means you can receive EUR payments as if you had a local German bank account, while also holding and converting between USD, GBP, AUD, and dozens of other currencies at the real mid-market exchange rate.

Wise charges a small, clearly disclosed fee for currency conversions — significantly lower than the hidden margins charged by most banks. For expats who receive income in a foreign currency, pay rent or bills in euros, or regularly send money internationally, Wise can save hundreds of euros per year compared to traditional banking.

The Wise debit card works globally and converts currencies automatically at the best available rate. The app is available in multiple languages with English support, and customer service is accessible via live chat and email. Wise is authorised by the FCA in the UK and complies with EU financial regulations.