Best way to transfer money to Italy updated in 2022

Italy is home to more than 61 million people. With 54 world heritage sites here, Italy draws a huge number of travelers from everywhere each year.

In Italy, before the Euro was used, Lira was the official currency, then was replaced with the Euro in 1999.

Luckily, Italy takes no foreign currency controls and assures the unlimited transfer of money in and out of the country.

As a result, it seems quite easy to transfer money to Italy, and there are great options for you.

Discover the best way to send money to Italy from USA

Best way to transfer money to Italy - online money transfer providers

The definition of “best” seems to depend on everyone’s sentience. Most online money transfer providers try to optimize their platform and service as better as possible.

Speed, cost, security, and ease of use are compulsory standards to achieve. You can pick one of them to meet with your demands for transferring money to Italy.

Now it’s time to narrow down your picks to know how to transfer money to Italy with the optimal service.

1. DNBC Financial Group

DNBC Financial Group is a financial institution in the international financial market, giving solutions for individuals and businesses. You can easily transfer money to Italy with a smart digital payment system and convenient payment platform.

Some typical benefits can be named here:

Their fees and foreign exchange rates are competitive and shown upfront. No hidden fees were added in your transaction.

Also, your remittance cost will be cut down up to 90% and the exact amount received by your beneficiary will be known as you set up your transfer.

The system will keep up-to-date with your transactions online, 24/7 with a secured and trusted system of transactions.

This solution can be the best way to transfer money to Italy for you.

2. Xoom (PayPal)

This method is fast and reliable, but it’s really not the cheapest way when sending money to Italy.

It doesn't mention in a detailed manner how much the exchange rates are. When looking up the exchange rate fee on its website, it’s calculated that Xoom can take 2 - 4 percent of the mid-market rates.

3. Western Union

Western Union is one of the more prestigious money transfer providers, but it’s quite expensive.

Also, you only have a transfer limit of US$50,000 to send money to Italy.

4. XendPay

XendPay is another choice. This online money transfer provider offers no mid-market exchange rates, but its transfer for the first US$2,275 that you send to Italy.

When it comes to exchange rates, it can take 2-3 percent of the mid-market exchange rates.

5. Wise

For international money transfers to Italy, Wise is also another choice. Some payment methods have an additional fee, but it can be tiny.

Other ways to transfer money to Italy

1. Cash Pickup to Italy

This way is accessible to everybody, especially to relatives, friends, or business partners in Italy who have a habit of collecting physical cash.

You just need to transfer money for a cash pickup location to any cash pickup collection branches in Italy.

2. Bank Transfers

In general, bank transactions are safe and secure. Besides, banks turn out to be the cheapest method for large transfer amounts. If you send a large amount of money, up to US$10,00 for example, bank transfer is a good solution.

However, transferring money via a bank can be an expensive option, with high fees.

In addition, the bank transfer time will take quite long, from one to five working days. This is due to some certain factors: fraud prevention, time zones or bank holidays/weekends.

What to take into account when sending money to Italy?

You need to consider 3 aspects: transfer fees, exchange rates and transfer speeds with more details:

1. Transfer Fees

These transfer fees are usually shown upfront by money transfer providers, but sometimes they’re hidden. They come in three forms: fixed fees, percentage fees and combination fees.

2. Exchange Rates

The main goal when sending money to Italy is to be offered the exchange rates as better as possible.

However, exchange rates are often volatile by time, try to compare what the money transfer service provider is willing to give you the best rate.

Keep this in mind, getting mid-market rates doesn’t mean that you’ll wind up with the most EUR in your Italian account. You need to consider exchange rates and transfer fees.

3. Transfer Speeds

Transfer speeds may have no effect on how many EUR you get in your transfer account, but it affects how long it takes to arrive.

Some money transfer services such as DNBC Financial Group, PayPal’s Xoom and Western Union only take minutes for international transfers.

More about DNBC Financial Group

DNBC Financial Group is a fintech startup, providing money transaction solutions all around the world.

By setting a high standard for innovation in the money transfer platform since 2017, DNBC Financial Group has offered solutions for collecting payments, transferring and managing funds.

DNBC Financial Group currently has an increasing number of users globally, consisting of transferring money to Italy from anywhere in the world.