How to send money to Italy

Compare money transfer companies to send money to this Mediterranean country.

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There are lots of companies and banks that offer money transfers to Italy, and by comparing exchange rates and fees, you can find the best deal for your next transfer.

Send money to Italy with XE

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Compare international money transfers to Italy

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,500 Same day NZD 0.00 0.585 EUR
5,853
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
NZD 250 1 day NZD 0.00 0.585 EUR
5,853
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
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NZD 0 Same day NZD 0.00 0.585 EUR
5,847
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
NZD 1 Within an hour NZD 3.99 0.584 EUR
5,842
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
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NZD 2,000 2 days NZD 0.00 0.585 EUR
5,853
Exclusive offer: $0 transfer fee and discounted exchange rates for all Finder customers.
A higher exchange rate applies to non-finder customers. Send money in more than 60 currencies.
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NZD 1 1 - 2 days NZD 70.00 0.588 EUR
5,835
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
NZD 250 1 day NZD 0.00 0.585 EUR
5,853
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply. Go to site Show details
AUD 250 1 - 2 days NZD 15.00 0.585 EUR
5,844
A higher exchange rate applies to non-finder customers. Send money in 45 currencies. No fee if you transfer over AUD$10,000. Go to site Show details
NZD 10,000 1 - 2 days NZD 0.00 0.583 EUR
5,829
Shop around for the best exchange rate on CurrencyTransfer's online marketplace. Go to site Show details
NZD 5 1 - 2 days EUR 3.00 0.583 EUR
5,830
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country – in this case, Italy. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

Laws and legal documents when transferring large sums of money into Italy

Banks vs money transfer companies

Although banks are quite capable of sending money to Italy, you’ll face high exchange rates and multiple fees to get your money into the hands of the person who needs it. If you need a quick option, banks also fall short – it could take up to a week, while money transfer companies may be able to exchange your money in a few hours.

Specialist money transfer companies are the best place to start. These companies — such as OFX and WorldRemit — offer fast, secure and much more affordable transfers to Italy. The fees are usually lower than what you’d find at a bank, exchange rates are higher and the transactions can be handled from the comfort of your own home. This gives money transfer companies a competitive edge over banks, so consider one when you’re in need of a money transfer to Italy.

Filippo Sends Money to Italy

Filippo is a professional rugby player based in Wellington. He wants to send a $1,000 gift to his sister back home in Florence for her 30th birthday, but he is not keen on paying his bank’s $50 transfer fee. He compares two money transfer companies in the hope of finding a more affordable solution.

Money transfer company 1 Money transfer company 2
Exchange rate 1 NZD = 0.59 EUR 1 NZD = 0.57 EUR
Transfer fee $5 $4
Transfer method Bank account deposit Bank account deposit
Processing time 3 business days 1–3 business days
Amount received (in EUR) 590 EUR 570 EUR

As you can see, Filippo can send an extra 20 euros to his sister if he uses the second transfer company.

How to compare transfer companies when transferring money to Italy

  • Exchange rates. A better exchange rate means more money for your recipient, so look for a company that offers attractive exchange rates.
  • Fees. A hefty transfer fee can easily turn an affordable transaction into an astronomically expensive one, so check how much each provider will charge for handling your transfer.
  • Transfer methods. Can you send your transfers online, through a mobile app, by calling the company or visiting one of its branches?
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments?
  • Turnaround time. How long will it take for your money to arrive? Processing times can vary from a few minutes to several days.
  • Minimum limit. Some companies will impose a high minimum limit on all transfers, a fact that can be quite restricting if you don’t want to transfer very much money.
  • Pick-up methods. Can the cash you send be collected from a branch in Italy, and if so, how many branches does the provider have? Alternatively, can you send funds via bank account transfer?
  • Customer service. If you ever have a question or a problem, when will customer support be available and how can you access it?

Foreign exchange rates explained

The exchange rate determines how much one country’s currency is worth in another currency. A strong currency will yield more money when exchanging it for a weak currency. Italy is in the heart of the eurozone and uses the euro as its currency. The euro’s exchange rates is flexible, so it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic and political stability and inflation.
Today’s exchange rate NZD to EUR

How to send money to Italy from New Zealand

  • Bank transfers. A transfer from your bank account to an Italian bank account is a secure option but will typically cost you more.
  • Online money transfer providers. Send money all around the world and enjoy cost-effective transfers when you use a specialist online transfer company.
  • Money transfer companies with cash pick-up options. MoneyGram and Western Union all offer this convenient service.
  • PayPal. PayPal allows its customers to use their accounts to send international money transfers.
  • Cheques. An international cheque from your bank can be sent to your recipient in Italy.

Steps to send money to Italy

  1. Choose a provider from our comparison table above.
  2. Register for an account with a provider.
  3. Provide information about yourself, including your name and contact details.
  4. Provide your recipient’s information and contact details.
  5. Select the amount you want to transfer and complete your transaction.
  6. Keep your receipt to monitor the progress of your transfer.
  7. Check in with your recipient to make sure the transfer was successful.
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Same-day cash transfers in Italy

There are certain circumstances where you may need to send a transfer urgently, for example, if your son or daughter is travelling through Italy and has their wallet stolen. When this happens, there are companies that can get the funds to your recipient in minutes, but you’ll have to pay extra for the privilege of a rapid transfer. Higher fees and lower exchange rates may apply, so check the fine print to determine the total cost of your transfer first.

Tips for picking up cash in Italy

The Ministry of Foreign Affairs and Trade’s Safe Travel website advises Kiwis travelling or living in Italy to exercise caution. Italy has an increased risk of terrorism; theft from tourists is common, particularly in crowded and tourist areas, in larger cities and on public transport; and the country experiences frequent civil unrest and strikes.

With this in mind, you should take care whenever you pick up cash from a transfer agent. This means staying aware of your personal safety at all times and taking a few steps to prevent yourself becoming a target for thieves.

  • Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
  • Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
  • Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
  • Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.

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