Send Money To Italy

Updated on September 13, 2020
Personal
Business
From
United States Flag
United States
USD
To
Italy Flag
Italy
EUR
1 USD equals
0.845 EUR
09/13/2020 5:19 PM UTC
 
How much to transfer?
$1-1k
$1k-10k
$10k +
Provider
Features
Fees
Score
Speed
Transfer Now
OFX Logo
  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers
$
$
$

low

Fees
87
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • Debit card (UK only)
  • BPAY (Australia only)
  • Direct debit (U.S. only)

Features

  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for personal transfers
  • Circle Check Icon
    Get competitive exchange rates
  • Circle Check Icon
    Lets you schedule transfers with ease
  • Circle Check Icon
    Trading in some currencies possible only over the phone
  • Circle Check Icon
    Website access only in English

TorFX Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents
$
$
$

low

Fees
72
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • CHAPS (UK only)
  • BACS (UK only)
  • Visa debit card (UK only)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for one-off transfers
  • Circle Check Icon
    Schedule transfers between £500 and £10,000 per month
  • Circle Check Icon
    Use hedging tools to protect yourself against FX fluctuations
  • Circle Check Icon
    No multilingual website

XE Money Transfer Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service
$
$
$

low

Fees
74
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank Transfer
  • BPAY (Australia)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    No fees for personal transfers
  • Circle Check Icon
    Accepts payments in several currencies
  • Circle Check Icon
    Target specific rates using limit orders
  • Circle Check Icon
    No debit or credit card payments
  • Circle Check Icon
    No scheduled transfers

WorldRemit Logo
  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website
$
$
$

medium

Fees
63
Speed Icon

fast

1-2 days

Less Information
+

Transfer Options

  • Bank Transfer
  • Debit / Credit card
  • Google / Apply Pay
  • POLi (Australia)

Features

  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

medium

Fees
Speed Icon

fast

1-2 days

Best For

  • Circle Check Icon
    Transfers to cash pickup locations
  • Circle Check Icon
    Transparent rates and fees
  • Circle Check Icon
    Low minimum transfer amount
  • Circle Check Icon
    No hedging tools
  • Circle Check Icon
    No scheduled transfers

Payoneer Logo
    $
    $
    $

    high

    Fees
    71
    Speed Icon

    medium

    2-3 days

    Less Information
    +

    Transfer Options

    • Bank transfer
    • Debit card
    • Credit card
    • Bank debit

    Features

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      high

      Fees
      Speed Icon

      medium

      2-3 days

      Best For


      Currencies Direct Logo
      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website
      $
      $
      $

      low

      Fees
      84
      Speed Icon

      medium

      2-3 days

      Less Information
      +

      Transfer Options

      • Bank transfer
      • Debit card

      Features

      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      medium

      2-3 days

      Best For

      • Circle Check Icon
        Schedule transfers easily
      • Circle Check Icon
        Make use of hedging tools
      • Circle Check Icon
        Accepts customers from most countries
      • Circle Check Icon
        Cannot sign up from all states in the U.S.

      TransferWise Logo
      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app
      $
      $
      $

      low

      Fees
      75
      Speed Icon

      fast

      1-2 days

      Less Information
      +

      Transfer Options

      • Bank Transfer
      • Credit Card
      • Debit Card
      • Country specific alternatives

      Features

      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      fast

      1-2 days

      Best For

      • Circle Check Icon
        User friendly mobile app
      • Circle Check Icon
        Multi-currency account
      • Circle Check Icon
        Travel debit card
      • Circle Check Icon
        No scheduled transfers
      • Circle Check Icon
        No dedicated account manager

      Compare prior to registering

      How To Step Icon
      Step 1
      Compare prior to registering
      Compare prior to registering
      Complete a thorough comparison of the leading money transfer companies to select the best alternative based on your specific requirements.
      Register as an individual or a business.
      Provide some basic information such as your name and contact details. Verifying the customers identity is typically part of the registration process.
      How To Step Icon
      Step 2
      View exchange rates closely, finalize your transfer
      View exchange rates closely, finalize your transfer
      Check historical EUR exchange rates to give you a fair indication of any recent volatility in the market.
      To set up your transfer, start by getting a rate quote from your service provider.
      Inform them about the transfer amount, as this may affect the rate.
      Finalize the transfer by locking the offered rate, and providing the recipient's Italian bank account details.
      How To Step Icon
      Step 3
      The transfer process
      The transfer process
      The process of transferring money to Italy takes place only after your service provider receives your payment. The processing time depends on the company you select, the payment method, your home country, and the recipient's bank.
      Most companies offer regular updates through their online platforms and several send email and text notifications.

      Currency Symbol and Swift Codes

      The Italian lira (ITL) was the official currency of Italy from 1861 to 2002. It was used as a subunit of the euro (EUR) from 1999 to 2002. However, only lira was used for cash payments during this period because of the unavailability of euro coins and notes. Since 2002, the euro has been the official currency of Italy.

      Carrying out a transfer to a bank account in Italy requires that you provide:

      • The recipient’s complete name
      • Name of the receiving bank
      • The recipient’s bank account number
      • The bank’s SWIFT/BIC code

      Given below are SWIFT/BIC codes of some prominent Italian banks.

      BANKBRANCHSWIFT CODE
      Banca Nazionale Del LavoroAcilia (Roma)BNLIITR101Z
      Ubi Banca (formerly Banca Popolare Di Bergamo)RomaBEPOIT21111
      MediobancaMilanoBAMEITMMMIL
      Mediocredito ItalianoMilanoBCITIT61XXX

       

      Case Study

      Marco had to move to the U.S. because of work, while his parents and younger sister continued living in Italy. Since his father had retired a few years earlier, it was upon Marco to support his family financially. As a result, he sent them U.S. $3,000 every month. He used a prominent American bank for the first few months and then decided to compare his options. This is what he discovered.

       BANKMONEY TRANSFER SERVICE
      Exchange rate$1 = EUR 0.7908$1 = EUR 0.8070
      Transfer fee$30$0
      Amount received for $3,000EUR 2,348.67EUR 2,421.00
      Transfer time3 to 5 days2 to 3 days
      Transfer optionsBank accountBank account
      Difference of EUR 72.33

      Using the overseas money transfer company instead of the bank came with multiple benefits. Marco’s family received a little extra money each time and it got to them quicker than before. Besides, he had the option of locking in exchange rates for subsequent transfers and he could also schedule them according to his needs.

       

      Cash Pickup Locations in Italy

      An easy way to send money to Italy in a hurry is to transfer it to a cash pickup center. A number of companies such as Ria, Western Union, and MoneyGram have agent networks in this country.

      RIA IN ITALY 
      Roma ABC SNC Di Shaeen Alam, Piazza Dei Cinquecento 48, RomaAlauddin Mohammed, Piazza Dei Dei Cinquecento 43, Roma
      Milano Huda Nazmul, Piazza Argentina Snc, MilanoShafi Sami Di Jahan Dilruba, Via Bisceglie SNC Fermata M1 Bisceglie, Milano
      MONEYGRAM IN ITALY 
      Roma Poste Italiane, Via Terme Di Diocliziano 30, RomaPoste Italiane, Via Firenze 36, Roma
      Milano Poste Italiane, Via Mazzini Giuseppe 15, MilanoPoste Italiane, Piazza Cordusio 1, Milano

       

      Safety Tips for Picking up Cash in Italy

      Italy has low levels of crime, although there are several instances of petty crimes such as pick-pocketing and bag snatching, especially around big city centers. Bear in mind that thieves may use different methods to distract you. When collecting money from a cash pickup location, exercise basic caution. If you have to collect a large amount, try to take some you trust with you.

      If you exchange currency at places other than banks or legitimate Bureaux de Change locations, make sure the notes you receive are genuine.

      There have been reports of thieves targeting tourists travelling in rented cars in and around Rome, Pisa, and Milan. When you are not in your car, keep valuables out of plain sight. Do not leave your drink unattended as there have been instances where victims of spiked drinks have been robbed. Remain vigilant when travelling on public transport and keep your belongings in sight at train stations at airports.

       

      What Information Do I Need to Transfer Money to Italy?

      The information you need when transferring money to Italy depends on the transfer method you choose.

      • Bank account. The information you need includes the name of the recipient, a bank account number, the name of the receiving bank, and the bank’s SWIFT/BIC code.
      • Cash pickup. All you need is the name of the recipient and the location of a cash pickup center. The recipient may collect the transferred money by presenting a valid form of ID along with a reference number.

       

      Regulations When Transferring Money To and From Italy

      As part of the Eurozone, Italy does not have its own regulations surrounding currency controls. While it follows the single monetary policy set by the European Central Bank (ECB), Banca d’Italia (the central bank of Italy) oversees the country’s payment systems. There are no restrictions on moving money in and out of the country for residents and non-residents alike. Any transfer of €10,000 or more to Italy needs to be reported on the recipient’s tax statement.

      Convert USD to EUR

      Check out the historical exchange rates for the last thirty days. Learn how much you can save by using a global money transfer company instead of the big banks.
      USD
      EUR
      Sending money online through specialist money transfer companies.

      Expect to receive between €83.61 and €84.12 when sending money from USD to EUR at today's exchange rate.

      Compare that to sending money overseas through retail banks. Expect to receive approximately €80.23, not including additional banking fees. That is an average saving of €3.63.
      Currency exchange rate in the last 30 days

      Need more information?

      Read useful guides on international remittance and more detailed reviews on the best money transfer services.

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