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If you’ve been sending euros to Italy without much thought for what company or bank you use, chances are your money isn’t working as hard as it could be.
Because of the large number of money transfer services in the market today, you can send money faster, cheaper and with more options than you can with many banks.
In fact in the example below, we show you how you could send money to Italy and save money on a transfer of €1,000.
Alessandra is considering moving from her home in Italy to Berlin to live with a friend she met at university. The trouble is she still has student loans to pay and will need to find a secure way to make these payments.
Knowing her parents will accept transfers and make the deposit for her, Alessandra decides to check the money transfer options she will have while in Germany by seeing what the fees will be for every €1,000 that she sends.
|German Bank||Money Transfer Company|
|Transfer time||Usually 2 business days||1 – 3 business days|
|Transfer options||bank transfer||bank transfer|
Using a money transfer service saves Alessandra an extra €20 in transfer fees, amounting to €240 over the course of the year (she makes 12 payments).
There are a few other points you should consider when comparing money transfer options:
With Italy and Germany both using euros, and the relationship between the nations strong, you will find a number of options available for sending money from Germany to Italy:
Italy is a popular travel destination so if you find yourself in sudden need of cash due to a loss or robbery, you have a few options to consider:
Below are listed some of the cash pick up locations you will find in Italy for two of the agencies that offer the service. Before you go to the agency to pick up cash, it’s a good idea to call ahead to verify the hours and that they have the cash on hand to fulfil your request.
When picking up cash it is always a good idea to be extra vigilant and travel to and from the agency using reliable and well known means of transportation. Have your photo identification with you as well as the tracking number for the transfer.
If you choose the money transfer option to send money to Italy from Germany your recipient is going to need the following information when arriving at the agency:
At the conclusion of your transaction, you will be given documents with the tracking number. Save those documents after sharing that number with the beneficiary in the event that there is a problem with the transfer.
It is important that you consider your circumstance when comparing the various money transfer options to make sure that the one you choose is giving you the best value for your money.Back to top
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