Deutsche Bank international transfer: Fees, rates and transfer time

Established in 1870, Deutsche Bank is now one of the world’s largest banks, with a huge global reach.¹

If you’re a Deutsche Bank customer, you’ll find it useful to know how to make an international transfer with the bank. In this guide, we’ll show you how.

We’ll cover everything you need to know about Deutsche Bank international transfers, including how to set one up and how much it costs.

Also, there are alternative ways to transfer money abroad, like with the money services provider Wise. With Wise, you can send money to 160+ countries.

What are the fees for an international transfer with Deutsche Bank?

When you make an international transfer with Deutsche Bank, you have a choice about who pays the costs. By default, the sender and recipient share the fees, but you can also choose to pay all of them yourself. The first arrangement is known as a SHARE transfer, while the second is an OUR payment.

There’s also a third option known as BEN, in which the recipient of the money chooses to cover all the fees. However, with outgoing payments, Deutsche Bank doesn’t offer this option to private customers.²

With these different payment types in mind, here are the regular Deutsche Bank international transfer fees for private customers you need to know about:²

As well as fees from Deutsche Bank, there may be charges from other banks involved in the transfer. These are known as intermediary or correspondent banks, or the destination bank. This will vary depending on the countries and banks involved. There might also be further or different fees from these ones, depending on the precise details of your account and transfer.

Deutsche Bank exchange rates

If you’re sending money to an account that isn’t in euros, it will need to be converted to the new currency. When your money is converted by Deutsche Bank, a markup is added. This is on top of the mid-market exchange rate you’ll find on Google or XE.com.

This markup figure depends on the currency sent, and the currency converted into. To give you an idea of how this works, here are just a few examples of the mark-up/markdown on currency pairs with Deutsche Bank:²

What this means is that if you use an online currency converter or do a quick Google search to find the current rate, it won’t be the same one that Deutsche Bank offers.

This is why it’s always worth taking a close look at the exchange rate before sending an international payment with a bank. Even if the upfront fee is low, an unfavourable rate can make your payment a lot more expensive.

And, if you value transparent fees and want to avoid exchange rate markups, consider sending money with Wise. You’ll get a low transfer fee*, no hidden costs, and the fair mid-market exchange rate.

Learn more about international transfers with Wise

How do you make an international bank transfer with Deutsche Bank?

With a Deutsche Bank account, there are a few different ways you can transfer money abroad using DB’s own services.

Here’s how to make an international bank transfer with Deutsche Bank online:³

1. Log into your online Deutsche Bank account to start an international credit transfer
2. Select the DB account from which the money should be transferred
3. Next, select the country you’re sending money to, and the currency to use
4. You’ll then be taken to a different page depending on whether you can make a SEPA payment or not - this is for EUR payments within the EEA
5. Follow the on-screen instructions to complete the transaction

You’ll also need to provide certain details, such as account details for your recipient. We’ll cover everything you need in just a moment.

Deutsche Bank international transfer limits are €1,000 per day for payments made via online banking.³ You may be able to apply for a higher daily limit though by contacting Deutsche Bank.

If you prefer, you can also set up an international payment or receive advice on how to do it by popping into your local Deutsche Bank branch. Alternatively, if you’re registered for telephone banking, you can call up and set up your payment with a DB customer service agent. The general support number for English language is +49(69)910-10000.⁴

What do you need to make an international money transfer with Deutsche Bank?

Euro payments will be SEPA (Single European Payment Area) transfers if the destination account is in the EU and the payment in EUR. SEPA transfers are treated like local transfers within the same country.

For SEPA transfers, you’ll need:³

• The beneficiary’s name or company
• The beneficiary’s IBAN.

For non-SEPA transfers, the exact details you need may vary depending on the beneficiary’s country. To be safe, you should make sure you have:³

• The name and address of both the beneficiary and the bank
• The bank’s SWIFT/BIC code
• The beneficiary’s IBAN or account number or any other local identifying code or number.

Get all the information you need to know on our Deutsche Bank IBAN number page.

How long does an international bank transfer with Deutsche Bank take?

For paperless transfers made in EUR, you can expect it to take up to one working day for your payment to go through. Paper-based transfers can take up to two working days with Deutsche Bank.²

Transfers in other currencies can take up to four working days to go through, regardless of whether you choose a paperless or paper-based transfer.²

Is there any way to make a faster transfer for an extra fee?

Yes, for non-SEPA payments you can request ‘express execution’, which costs €10.²

Need help with your transfer? Here’s how to contact Deutsche Bank

• Call the general enquiries line on +49(69)910-10000⁴
• Pop into your local DB branch
• Send an email message from the Deutsche Bank website.

Wise – Money for here, there and everywhere

Want low fees, great exchange rates and an easy way to send money worldwide? Open a Wise account online and you can start sending money to 160+ countries.

You can send payments worldwide for low fees and mid-market exchange rates. There’s even a Wise card for spending in 150+ countries, where your pounds are automatically converted to the local currency at a great rate.

There aren’t any monthly fees with Wise, and you can open an account for free.

Sign up with Wise today 🚀

After reading our guide, you should be all set to make your first Deutsche Bank international transfer. We’ve covered how to do it, how long it takes and the fees and exchange rates you need to know about.

But remember, it’s always a good idea to compare different banks and money service providers, like Wise, to get the most out of your transfers. With the difference in fees and exchange rates, you could definitely save by doing some research beforehand.

Sources used:

Sources last checked on date: 27-Sep-2023