Please note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.
Find the best way to send money to Italy
Learn how to send money to Italy from the UK in our step-by-step guide.
Looking for the best way to send money from the United Kingdom to family, friends or businesses in Italy (or even to your own overseas bank account)?
Don't head straight to your British bank – compare specialist money transfer services instead. They nearly always offer better EUR exchange rates and lower fees, so for the same amount of pounds you send, your recipient will receive more euros.
Of the companies we've compared, OFX is among the cheapest, with competitive exchange rates and fees starting from £0. Need a really fast transfer? CurrencyFair can get money to your recipient in Italy within minutes.
Best ways to send money to Italy from the UK
The best way to send money to Italy depends on your payment method, how you want your money to be received and how fast you need it to arrive.- Online money transfer provider. When buying pounds or euros money transfer specialists typically offer better rates and cheaper fees than a local bank.
- Bank transfer. Bank transfers are an easy way to send money to Italy but they charge extra for the convenience and are often slower than other methods. UK banks generally add a 3% to 6% markup onto exchange rates.
- Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you've sent when they collect it from their agent location in Italy.
- Mobile wallet. Essentially an electronic wallet service, mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
Compare the best money transfer companies to send money to Italy
Use our table to compare the best money transfer companies to send money to Italy. You can compare deposit and receiving options, fees and transfer speeds, then click the "Go to site" button when you've found the best one to get your money to Italy.
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Cheapest way to send money to Italy
Bank transfers are typically the cheapest way to get your money to Italy. OFX and Western Union have some of the lowest bank transfer fees of the brands we've compared.
When you're hunting down the cheapest ways to send money to Italy, it's more important to look at the overall cost of your transfer. This has a couple of elements:
- Transfer fees. While still cheaper than your British bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.
- Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market GBP/EUR exchange rate.
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many euros your recipient will end up with.
Fastest way to send money to Italy
Many online providers can offer transfers to Italy within minutes, although you're likely to pay a premium for the convenience.
Here are some of the fastest average transfer speeds to Italy:- CurrencyFair — within minutes
- Atlantic Money — within minutes
- PassTo — within minutes
Actual transfer times from the United Kingdom to Italy can depend on several different factors including transfer amount, payment method and currency.
Safest way to send money to Italy
The safest way to get your money to Italy is to use a provider registered with the United Kingdom's industry regulator, the Financial Conduct Authority (FCA). All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both the United Kingdom and Italy.
A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
Large money transfers to Italy
If you need to make a sizable money transfer to Italy, consider using a provider such as Wise (TransferWise) or Key Currency to benefit from its expertise in handling larger transfer amounts.
Using a large transfer specialist can have the following advantages:- Tax guidance. Large transfers to Italy may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on HMRC's latest advice.
- Foreign exchange (forex) tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the EUR exchange rate you want.
- Account manager. Some money transfer providers assign a personal account manager who can help and advise you on your transfer needs.
- Phone service. If you want to talk your transfer through with someone, providers such as CurrencyTransfer Business and Wise (TransferWise) can give you support over the phone.
How to send money to Italy from the UK
To send money to Italy, you'll need the necessary documentation, your recipient's details and a way to pay.
- Compare your options.
Use our table to find a money transfer provider that sends funds to Italy. One may be better for cash pickups while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site". - Create an account.
You'll need to give your name, address, contact details, proof of ID and method of payment.- Provide your recipient's details.
Enter your recipient's name and contact information. If you're sending straight to their Italian bank account, you'll need the account number, SWIFT or IBAN plus their bank branch's address.- Enter your transfer amount.
Check you're happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total euros your recipient gets.- Complete your transfer.
Send your money transfer to Italy. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it too.Example: Sofia sends money to Italy
Sofia is working in the United Kingdom as a doctor and she stays in regular contact with her elderly parents back home in Italy. Her parents need some funds to help pay off a mortgage, so Sofia plans to send them £2,000 from the United Kingdom.
She decides to compare a bank and a money transfer specialist to see which one can save the most money on her transaction.
Bank Money transfer company Exchange rate 1 GBP = 1.15 EUR 1 GBP = 1.16 EUR Transfer fee £10 £2.50 Transfer method Bank account deposit Bank account deposit Processing time 2 - 5 working days Next day Amount received 2,281.31 EUR 2,320.22 EUR The money transfer company enables Sofia to send an extra €38.91, which is transferred straight to her parents' Intesa Sanpaolo account.
How to choose the best money transfer companies to send money to Italy
When choosing a money transfer provider to send money from the United Kingdom to Italy, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:
- Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. It is the best rate you can get. However, not all money transfer providers offer you this mid-market rate so compare the EUR you're offered to the mid-market rate and look for the smallest difference.
- Transfer fees. Are you being charged a flat fee or a percentage of your transfer amount? For example, a provider offering to transfer your money to Italy for a flat or low fee might work out better if you plan to send a large amount.
- Transfer type. Does your recipient have an Italian bank account or is cash or cell phone top-up a better option? Each transfer type will have different fees. For example, instant cash pickups tend to be more expensive than bank transfers.
- Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as Western Union offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value and get your money to Italy faster and cheaper than banks.
- Transfer limits. Find out how much you can send with each service. For example, Western Union has a transfer limit of £4,000 while OFX allows unlimited transfers.
- Discounts. Some providers may offer you a free transfer simply for signing up. Others may offer a discount if you transfer more than a specific amount of euros.
Is this a good time to send money to Italy?
Compared to a month ago, the pound is a little stronger against the euro. Currently £5,000 is equivalent to €5,837.00, whereas a month ago, £5,000 was equivalent to €5,829.00. That's an increase of 0.14% over the past month.
Similarly, compared to a year ago, the pound is again stronger against the euro. A year ago, £5,000 was equivalent to €5,653.00. That's an increase of 3.25% over 12 months.
So based on those two quick glances back, yes, it's a relatively good time to send money to Italy, and your pounds will go further than they would have. But what's more important, however, is where the strength of the pound against the euro goes from here – which is harder to call.
Ready to compare rates?
Get startedFrequently asked questions
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.Go to siteMore guides on Finder
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4 Responses
- Provide your recipient's details.
Can a non Italian visitor pick up a Moneygramm with just their passport? Or do they need additional identification to pick it up?
Hi Bre,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
You’ll need the following in order to receive your money transfer from Moneygram:
– Government-issued identification (ID) that displays your legal name
– Reference number – request the reference number from the person who sent the money transfer
Please note that the name on the transfer record, completed by the person sending the transfer, must exactly match the name as it appears on the official ID. And requirements vary by country so please ask your local MoneyGram agent for details about their process and procedures.
I hope this helps.
Cheers,
Danielle
How to pick up money transfers for a visitor to Italy?
Hi Bre,
Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.
It would depend on how the money was transferred. Money transfer companies such as Western Union and MoneyGram let you send money to bank accounts and cash pickup locations. A list of cash pick up locations are listed on the page.
I hope this helps.
Cheers,
Danielle