# What is the best way to move money?



## mrmillersd (Jul 17, 2013)

I will be opening a local bank account, but what is the best way to bring money so i can cover the basic living expenses (3 months rent, food, furniature) initially?


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## beppi (Jun 10, 2013)

International bank transfer (a.k.a. wire transfer)


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## mrmillersd (Jul 17, 2013)

once i have a bank account there right?


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## Nononymous (Jul 12, 2011)

I assume you're staying long-term, not just visiting for three months?

If yes, set up a bank account as soon as you arrive, then use CurrencyFair or similar to transfer the money. You'll get a better exchange rate than just using regular bank wire transfers.

There are many threads and opinions on which bank to use. You generally need to have done your basic registration (Anmeldung) before you can open an account, but the residence permit (Aufenhaltserlaubnis) is not required. Sorry if this is obvious and you know it already.

There are a number of online banks now (DKB, ING-DiBa) that are quite easy to work with, have no fees, and send next to no postal mail so are easy to maintain if you plan to leave Germany but return every so often. Account-opening procedures can be a little slow and cumbersome, plus service in English might be something you need to consider depending on the state of your German.

Note that if you need to pay a rent deposit immediately, before you can set up your bank, you can also use CurrencyFair (or a regular wire transfer) to send money directly to your landlord's account.


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