Can I cancel a money transfer from Eritrea to Germany after it's sent?
Yes, in most cases, you can cancel a money transfer from Eritrea to Germany if the funds haven't yet been received in Germany. To do so, contact the provider's support team in Eritrea or use their app/website. Keep in mind that some services may charge a cancellation fee for transfers between Eritrea and Germany.
How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Do I need a bank account in Eritrea to send money to Germany?
Not necessarily. Many international services operating in Eritrea offer cash transfers to Germany, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from Eritrea to Germany, an account will be required.
What are the advantages and disadvantages of using a SWIFT bank transfer?
Advantages: Large amounts can be transferred securely.
Disadvantages: Longer processing time (several days), high fees from both sending and receiving banks.
