Send Money To Italy

Italy flagIn this Italy Money Transfer Guide, we will show you how to get the most out of your Euros.

Our reviewed Foreign Exchange companies will help you send money to or from Italy by providing smaller fees, better currency exchange rates and quick delivery to your desired location.

Best For Large Money Transfers:

currencies-direct logo

No fees

No limit on the amount transferred

Transfers made online or by phone

Easy transfers made online with the app

Italian version of the website

Visit Curencies Direct For Quote
Best For Smaller Money Transfers:

Small transfer fee

First 5 Transfers for Free

Transfers made only online

Mobile apps for both Android and iOS

Italian version not available

Visit Currencyfair  –  Free Quote

Worth noting: Both companies makes it super easy to transfer money by using their online trading platform or by using their phone apps. The small differences are made by the amount you want to send. The Italian version of their websites helps you get all the information from the source.

The Guide’s Topics:

Best Company To Wire Money To Italy

Payment Facility



worldfirst-logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.
Best Rates for £50,000+
Expected Rates* - £50,000+ :
- GBP: 1.1013 EUR to 1.1051 EUR
- CAD: 0.6410 EUR to 0.6433 EUR
- USD: 0.8421 EUR to 0.8450 EUR
WorldFirst Review
currencies-direct logoMin. Transfer: £ / € 100.
Transfer: Online or by Phone.
Wire Fees: None.

Expected Rates* - All Amounts :
- GBP: 1.0847 EUR to 1.1013 EUR
- CAD: 0.6314 EUR to 0.6410 EUR
- USD: 0.8294 EUR to 0.8421 EUR
CurrenciesDirect Review
currencyfair logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: € 3

Expected Rates*:
- GBP: 1.0957 EUR to 1.0988 EUR
- CAD: 0.6378 EUR to 0.6396 EUR
- USD: 0.8378 EUR to 0.8402 EUR
Currencyfair Review
Italy BankBig International Transfer Fee + Currency Exchange Fee. Double The Cost Of Commercial FX.

Exchange rate would be approximately *:
- GBP: 1.0847 EUR to 1.0957 EUR
- CAD: 0.6314 EUR to 0.6378 EUR
- USD: 0.8294 EUR to 0.8378 EUR
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 1.0791 EUR or worse
- CAD: 0.6314 EUR or worse
- USD: 0.8294 EUR or worse

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.

Supported Countries & Payment methods

MoneyCorp is one of the biggest and oldest companies in this sector. With time and constant development, the company has created a big infrastructure so can easily send money all over the important countries like USA, UK, Australia, France, Germany, China, Hong Kong or even the United Arab Emirates.

Currencies Direct provides a zero fee transaction to more than 100 countries. Some of the destinations can be quite exotic, to say the least, where many banks have difficulty sending money. Countries like Mauritius, Fiji, Kenya or Kuwait.

Important: Currencies Direct has their website completely translated into Italian in case you feel more comfortable in this language when transferring money to Italy.

World First offers pretty much the same as the above two companies. The only real difference is, as you can see in the table above, the minimum transfer amount which is a little higher than MoneyCorp and Currencies Direct. Check out their website for more information.

Best Company to Transfer Money from Italy

Service Provider



currencies-direct logoMin. Transfer: € 100.
Transfer: Online or by Phone.
Why Them? Over 150,000 Active Clients.
£4.5Bn Transferred Annually. 18 Worldwide Offices.
CurrenciesDirect Review

Supported Regions & Currencies

Being part of the European Union, Italy doesn’t need a state by state regulation for companies handling money transfers, as the USA legislation requires. You can send money from anywhere in Italy to everywhere in the world.

Currencies: All three of the listed companies work with a big array of currencies in order to support all of their customer’s needs. This is why it is so easy to make money transfers to countries like Sri LankaPolandAustriaBelgiumJamaica or even the Philippines.

If your need is to make small transfers every month or a few times per year, we would suggest using TransferWise as they work with fixed spreads, which basically means fixed fees. With the rest of the companies, the bigger the transfer amount is, the bigger are the benefits.

Today’s Foreign Exchange Rates for EUR

GBP to EUR – Pounds to Euro; 10,000 GBP is 11,031.5000 EUR

EUR to GBP – Euro to Pounds; 10,000 USD is 9,064.9504 GBP

EUR to CAD – Euro to Canadian Dollars; 10,000 EUR is 15,550.4691 CAD

CAD to EUR – Canadian Dollars to Euro; 10,000 USD is 6,430.6742 EUR

AUD to EUR – Australian Dollar to Euro; 10,000 AUD is 6,030.7125 EUR

EUR to AUD – Euro to Australian Dollar; 10,000 USD is 16,581.7885 AUD

EUR to USD – Euro to US Dollars; 10,000 AUD is 11,845.4426 USD

USD to EUR – US Dollars to Euro; 10,000 USD is 8,442.0653 EUR

EUR to CHF – Euro to Swiss Franc; 10,000 USD is 10,717.4002 CHF

CHF to EUR – Swiss Francs to Euro; 10,000 CHF is 9,330.6211 EUR

NZD to EUR – New Zealand Dollar to Euro; 10,000 NZD is 5,649.0680 EUR

EUR to NZD – Euro to New Zealand Dollar; 10,000 USD is 17,702.0351 NZD

Popular EUR Routes

Popular currency transfer routes for people visiting this page:

  1. Transfer from UK to EU (GBP to EUR)
  2. Transfer money from Italy to USA (EUR to USD)
  3. Transfer from Canada to EU (CAD to EUR)
  4. Transfer from Australia to USA (AUD to EUR)

Money Transfer To Italy Bank Account

Even though it’s one of the youngest currencies, the Euro is the second most traded in the world. But it is easy to see why if you consider the fact that there are 19 European countries using it and most of them are the powerful ones like Germany, France, the Netherlands and, of course, Italy.

Real Estate: Italy is one of the hottest real estate market this year. After a continuous drop since the crisis in 2008, the decline has slowed considerably. The house prices are projected to drop by another 2% this year before getting on a positive level next year.

If the projections don’t change, the Italian market might see consistent growth in the near future, as more and more foreigners are already interested in high-end properties and transferring money to Italy. Many US buyers are returning to the market now that the US dollar has almost become the Euro’s equal.

Luxury Goods: Every market has a luxury category and many of them are found in Italy. We all want the new Ferrari and the new Gucci clothing line, right? Well, not all of us.

Some have developed a business by acquiring vintage luxury items like cars, which can easily top the prices of the new releases from the same companies. Another example is the new trend of the Vintage Versace Frames which can easily be sold now for $300-$600 per pair.

When is the best time to exchange your currency?

If you don’t know how the currency has performed in the past, you are taking an unnecessary risk. We want to provide everyone with the information they need to make smart decisions with their money. To help with your research, we are providing real verifiable data on the past performance of EUR, GBP, USD, CHF, and JPY.

EUR to GBP rates

EUR / GBP20122013201420152016201720182019

EUR to USD rates

EUR / USD20122013201420152016201720182019

EUR to CHF rates

EUR / CHF20122013201420152016201720182019

EUR to JPY rates

EUR / JPY20122013201420152016201720182019

Thinking Of Relocating To Italy?

If you consider relocating to Italy and live there as an expat, you may need to know about this stats.

Advantages Of Moving To Italy:

  • Affordable Food: 16% lower than the UK.
  • Affordable Housing: 45% lower than the UK.
  • Transportation Affordable: 61% lower than the UK.

Disadvantages Of Moving To Italy:

  • High Unemployment Rate: Unemployment is 30%.
  • Limited English Speakers: The majority of the elderly population has not learned English even in the major cities.
  • Electricity is Expensive: 20% more expensive than the UK and if you use too many things at once you will short the system.

Popular Destinations in Italy

Popular cities for business and real estate transactions in Italy are: Roma (Rome), Milano (Milan), Napoli (Naples), Torino (Turin), Palermo, Genova (Genoa), Bologna, Firenze (Florence), Catania, Bari and Venezia (Venice).

Finding the Cheapest Way to Send Money to Italy?

Believe it or not, the best way to send money to Italy is online through a Foreign Exchange company like the ones that we featured in the tables above. It is also the most secure way to transfer money to Italy. So, you win on both counts.

This is what you need to send money to Italy

  • Account Holder’s Full Name
  • IBAN
  • Swift Code
  • Your identity card

If you have all the details listed above, you will need to register an account very similar to the bank procedures because of the European Anti Money Laundering laws. But all in all, it’s a pretty simple process:

  • Create a free account with the preferred company.
  • Get a quote from one of the dealers.
  • Send the money to fund your account.
  • Get a confirmation from the dealer that they have completed your transaction.

Our Company Recommendation:

Regulations when sending money to and from Italy

Italy has no regulations or currency controls, as a member of the single currency Eurozone. Transferring money in and out of Italy is not restricted for non-residents and residents alike, despite being hit hard by the 2008 Eurozone crisis. This applies even to countries outside the Eurozone.

The Eurozone’s single payments system for all member states, as well as Iceland Liechtenstein and Norway, has simplified money transfers.

Banca d’Italia

Banca d’Italia (the central bank of Italy) oversees payment systems to ensure the stability of their financial sector.

The European Central Bank (ECB) sets the single monetary policy.

Transfer regulations

Foreign Direct Investments (FDI) in Italy do not require government approval. However, Italy has imposed a 0.2% tax on the purchase of shares in publicly traded Italian firms. This was done to curb potential capital flight from local financial markets but is highly contested within the Eurozone.

Transfers over EUR10,000 must be reported on tax statements. This includes a series of transfers within a short space of time, the sum of which exceeds EUR10,000.

Transfers over EUR10,000 must be declared to European Union authorities.

Taxation on foreign income

Italian residents are taxed on any foreign income. Non-residents are taxed only on income originating in Italy. Double tax treaties are in place to avoid double-taxation.

Biggest banks in Italy

  • Unicredit
  • Intesa Sanpaolo
  • Mediobanca
  • Ubi Banca
  • Banco Popolare

After reading this money transfer guide, will you still use the banks when you need to send money to Italy? I don’t think so. And why would you if they charge you on every step of the way?

That’s why is wise to start using the FX companies we have listed in this article and start saving more by getting more out of your currency when you send money from Italy or to Italy.