Euro from Ireland to a German bank account
Who uses the Ireland to Germany corridor
Germany is one of the larger destinations for money leaving Ireland, and the traffic is mostly commercial and personal in equal measure. Irish manufacturers and distributors pay German engineering, machinery and medical technology suppliers, usually against an invoice with a payment term attached.
Going the other way in spirit, the German community working in Dublin's technology and pharmaceutical employers sends money home to Berlin, Munich, Cologne and the smaller places their families bank in.
Then there are the students. Irish colleges send a steady stream to German universities, and a semester in Heidelberg or Leipzig means a rent deposit, a Kaution and a series of transfers that all have to name the right person.
Germany still settles a great deal of ordinary life by bank transfer rather than by card, which is why the reference field matters here more than on most corridors.
Three steps to a German IBAN

Open your account
Hold euro
Send with a reference
The cost of paying a German account
Where Irish senders lose money on this corridor is usually not the rate but the handling. A payment that arrives without the right reference can sit unallocated at a German supplier for a fortnight, and a late fee costs more than any transfer charge. Send the reference with the money and the problem does not arise.
If the money you are sending is dollars held on Grey, one conversion into euro happens first, priced next to the fee, and nothing further is applied once the euro is on its way to Germany.

Rates between Ireland and Germany

There is no rate on this route. Both countries use the euro, so the invoice total and the credited amount are the same figure.
Only funding from another currency brings a rate into it, shown before you accept and fixed at confirmation. From that point the euro reaching the German account is settled, which suits a supplier who will not accept a short payment.


Grey compared with your Irish bank paying Germany
How it appears on a German statement

German banks

Arrival

If they hold Grey
Funding your account from Ireland
SEPA from home
Dollars from clients
Existing euro
What money from Ireland pays for in Germany
Supplier invoices
Family in Germany
Student costs
Contractors and agencies
Why send to Germany with Grey
Because the euro sits on both sides, there is no conversion at all on this route. What is left to get right is the reference, the fee you can see, and knowing the payment has landed before the supplier asks.



