Knowing how to find the best way to purchase Euros will help you get great value and reduce the cost of currency conversions

If you have suppliers or customers in Germany, your business cash flow is undoubtedly dependent on keeping your profit margins predictable. A Euro purchase order or invoice payment with just a few cents in currency exchange rate fluctuations can affect the transaction by thousands of dollars.

Do the math: If you purchase a shipment of German auto parts for your business worth 50,000 Euros, a currency fluctuation of just 3 cents in the Euro exchange rate could result in a $1,500 loss or gain depending on how the currency moves.

What is the best way to send money to Germany?

The best way to send money to Germany is the quickest method with the fewest transaction charges. When dealing with German suppliers, it is easier to pay them in Euros. Paying your European supplier in Canadian dollars or U.S dollars requires currency conversions with foreign currency conversion charges adding unnecessary costs to your overseas purchase 

Dealing in Euros gets the funds to your overseas suppliers more quickly by simplifying the transaction and reducing the chances of accounting errors that can accompany invoices requiring adjustments due to currency exchange fluctuations.

What is a good Euro exchange rate?

You can save thousands of dollars on international money transfers if you know how to get the best exchange rates 

Knowing where to look for the best place to exchange money is key to doing business globally. You have two main options when it comes to exchanging currency: your bank foreign exchange (FX) specialists, like MTFX. 

While your bank may seem like an obvious place to start, they don’t always offer the best exchange rates available and can charge transfer fees of up to CAD 100.00 per transaction, which quickly add up if you need to make transfers often.