How To Transfer Money In Germany
In the U.S. money or wire transfers are not the most common way to send money from one person to another. In Germany, unlike in the U.S., the idea of giving or sending someone a check doesn’t really exist. Bank transfers are universally used for everything from paying your bills, to signing up for services online (like Netflix), to small things like paying back a friend for a split purchase. There’s really not much to it.
When you open your German bank account, you were given the option (or, as is happening more frequently these days, were directed) to set up online banking. If you chose not to use online banking, making a single transfer requires you to go to a branch of your particular bank institution, and fill out a slip, which will likewise have spaces for the following numbers:
International Bank Account Number (IBAN). This number includes 22 digits for German accounts, and starts with "DE" followed by so called "check digits" and ends with your actual bank account number. On your bank card, you probably have this listed on the back of the card; make sure to write it out as all one number when you are filling in the form.
Business Identifier Codes (BIC). This number is specific to your bank institution, and often to the regional subbranch, depending on how your particular bank organizes itself. These numbers can readily be found online if you for some reason don't have it, but the one for your particular account should also be on the back of your card.
Verwendungszweck (reference line). In these spaces, you can list either the purpose of the payment, as you may be used to doing with a typical check, or you can put in the given numbers or information that you need for processing the payment (like an account number with a company for example).
You will have to provide this information for both the intended recipient and yourself if you are using a paper form; if you transfer online (which will save you time and fees), then this information will obviously already be in the system.
Bear in mind that you can also send and receive money this way to and from the U.S., though there will likely be notable fees, at least from your bank back in the U.S.. It may be best to transfer whatever money you will need, or are required to have in your account based on your visa type requires up front once you open your account, and then take out whatever money may remain as cash when you close it.