How to send money to Italy

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

Last updated:

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.
XE Money Transfers

XE International Money Transfers

Enjoy fast, secure and fee-free international money transfers with global payments provider XE.

  • Send money in 40+ currencies
  • No transfer fees
  • See exchange rates in real-time
  • Secure and regulated by the FMA

    Compare international money transfers to Italy

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    NZD 250 1 day NZD 0.00 0.571 EUR
    5,712
    SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
    Fee-free transfers in 30+ currencies to over 200 countries.
    Go to site Show details
    NZD 0 1 day NZD 0.00 0.572 EUR
    5,716
    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 0.569 EUR
    5,685
    An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
    NZD 2,000 2 days NZD 0.00 0.571 EUR
    5,714
    Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
    A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
    Go to site Show details
    NZD 1 1 - 2 days NZD 70.00 0.574 EUR
    5,699
    Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
    AUD 2,000 1 day NZD 0.00 0.571 EUR
    5,710
    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 0.571 EUR
    5,699
    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 0.564 EUR
    5,641
    Go to site Show details
    NZD 5 1 - 2 days EUR 3.00 0.565 EUR
    5,653
    Go to site Show details

    Compare up to 4 providers


    The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

    Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

    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 1Money transfer company 2
    Exchange rate1 NZD = 0.59 EUR1 NZD = 0.57 EUR
    Transfer fee$5$4
    Transfer methodBank account depositBank account deposit
    Processing time3 business days1–3 business days
    Amount received (in EUR)590 EUR570 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.
    Exchange rates for Italy

    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.
    Back to top

    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.

    Back to top
    Was this content helpful to you? No  Yes

    Ask an Expert

    You are about to post a question on finder.com:

    • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
    • finder.com is a financial comparison and information service, not a bank or product provider
    • We cannot provide you with personal advice or recommendations
    • Your answer might already be waiting – check previous questions below to see if yours has already been asked

    Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

    By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

    Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
    Go to site