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How to Send Money to Italy

Last updated 25th Nov 2022

Italy is a part of the European Union, ensuring a huge number of money transfer services are available to send money to this country. This guide will discuss why this is the best method to send funds to Italy and how to pick the most suitable money transfer operator for your needs.

You'll also learn about other ways of sending money to Italy and how MTPs like Remitly and Instarem compare. The guide covers the factors to consider before deciding on a transaction, ensuring you have all information about moving funds to Italy on a single page.

How to Send Money to Italy Using a Money Transfer Provider?

The process of sending money to Italy by using an online money transfer service is simple. You only need to follow these three steps to execute a transaction!

Step 1: Compare providers to find the one that best fits you
Step 2: Sign up with the chosen provider
Step 3: Transfer money

How to Send and Receive Money in Italy?

Remittances from Italy are much higher than the money sent to this country. According to statistics, USD 7.7 billion was sent from Italy to immigrants' home countries. Personal remittances received were about EUR 235 million in the first half of 2022. For both sending and receiving funds, money transfer operators were a popular choice. But let's see all the methods at your disposal!

Ways to Send Money to Italy

Money transfer operators are available in over 180 countries, and they allow sending funds online. That makes them convenient, but they aren't the only option to move money to Italy. Here is the overview and comparison of all available methods!

Money Transfer Services

International money transfer services have been the number one option for sending funds to Italy for years. That's for a good reason since they offer many benefits:

  • User-friendly and simple. All you need is an internet connection and access to the chosen platform or mobile app.

  • Fast transactions. Most transfers are completed in minutes, or on the same day.

  • Deposit and withdrawal method selection. You can use bank account deposits and cards to send money, and cash collections and bank transfers are the most common options for withdrawals.

Finally, money transfer services are quite affordable. The fees depend on the platform and chosen methods, but MTPs generally cost less than the alternatives.

Wire Transfers

Wire transfers were among the first options for sending money internationally. While it was popular back in the day, it's clear that there are better alternatives now. Wire transfers could take days, and processing fees are expensive. Additionally, it's an offline method, so you need to go to the chosen facility to send funds.

International money transfer operators secure faster transactions, and they allow sending funds from any location. Add cheaper fees, and you get a better option than wire transfers.

Bank Account Transfers

This involves uploading funds from your bank account, which is convenient. Furthermore, many money transfer operators support this method.

It is still complicated and expensive to use the bank for the entire transfer. You'll need more detailed receiver info, and the time for the institution to process the transaction is long. It's why you can use bank deposit as a payment method but stick to money transfer services as the processing platform. The transactions will be faster and more affordable.

Challenger Banks

Challenger banks are becoming more popular since they focus on a digital-only approach. In Italy, the top platforms among the users include Revolut, Wirex, and Hype. Digital banks are usually less solvent than traditional facilities, so they aren't the wisest choice for large transactions.

The fees imposed by challenger banks are often higher than those required by money transfer platforms, which is another reason why MTPs are a better option.

Mobile Apps and Payment Services

Apple Pay and Google Pay are some examples of contactless payment services available in Italy. While these are great for paying in stores, they are available in a limited number of countries.

Additionally, these platforms don't consider international transactions to be a priority. It's better to go with a specialized money transfer service. They'll offer more options to receive funds and affordable fees and other benefits.


PayPal is an e-wallet pioneer that was launched over 20 years ago. The platform is used by 400 million people and is a fast way to send money to Italy. The problem with PayPal lies in its affordability. It has high exchange rates and processing fees that go up to 5%.

The above facts make international money transfer operators a better option. Apart from lower fees and better exchange rates, you'll appreciate the variety of payment methods and support for sending money.

Money Transfers to a Pickup Location

Some money transfer operators, such as Western Union or Ria, support this option. You can schedule the order online but then take cash to the store to send money to Italy.

This method is risky since you'll need to carry cash. Also, exchange rates are often lower than when using the online variant of the same service. Transaction limits might be lower when sending cash, so it's better to go with online MTPs.

What Do You Need to Send Money to Italy?

Apart from the sum to send, here's what you'll need to prepare:

  • Proof of ID. You'll need a valid document with a photo.

  • Proof of funding. Some platforms require showing where you got the money. The source can be a salary, property sale, etc.

  • Receiver's info. Name and address are a must, but you might need their phone number and other details on some platforms.

  • Bank information. If you are sending to a bank account, you'll need the account number, SWIFT, and other details.

Depending on the platform, they might ask for additional documents, especially during the verification process.

What Are the Ways of Receiving Money in Italy?

The good news is most adults in Italy have a bank account, but there's also an option to collect cash at an agent's branch. Here's more info about each option, so you can discuss it with the client!

Location Pick Up

Western Union has numerous locations throughout Italy, and it shouldn't be a problem for the receiver to find an agent nearby. It's similar to other money transfer platforms.

But it's not only about having to come to the location. The receiver will need to collect cash, and there's always a theft risk involved. Make sure they confirm they'd like to pick up the money at the designated location before you send it.

Direct Bank Deposits

This is the easier option since the receiver usually doesn't have to do anything, and the money appears in their bank account automatically. For large transactions, they might need to provide information on why they are getting the money. Although it's wise for the receiver to open an account before the transaction, some banks open special accounts for that transfer.

What Do You Need to Receive Money in Italy?

The receiver will likely need the following details:

  • Proof of ID. This includes having a valid ID issued by the Italian government, and one with a photo is necessary.

  • Transaction info. As the sender, you might need to provide a reference number for the receiver to identify the transaction when they go to collect the money.

  • Sender's details. Some platforms require the sender's info as that confirms the receiver is expecting the money from you.

Top Money Transfer Providers to Send Money to Italy

Money Transfer ProviderFeesDeposit MethodsItaly RegulatorRemitly0% on the first transfer; VaryDebit and credit cards, bank transfers, Passbook, Klarna (Sofort)The Bank of ItalyWestern Union0% on the first transfer; VaryDebit and credit cards, bank transfers, cash in-storeThe Bank of ItalyInstaremFrom 0%Direct debit, Instarem as payee, bank transfers, debit and credit cardsThe Bank of Italy

Remitly – Best for Sending Money to Italy Overall

The platform offers Economy and Express transfers. Depending on the location, the latter can be more expensive, but the delivery is usually within minutes. Remitly won't charge transaction fees if you send at least USD 1,000 per transfer to Italy. The company has a working partnership with leading banks in the country, such as Intesa Sanpaolo and BancoPosta.

Pros and cons of using Remitly


  • Guaranteed delivery time, or they'll refund your fee

  • Better rate and 0% fee on the first transfer

  • Dedicated mobile apps for Android and iOS


  • Express transfers only available with certain payment methods

  • Occasional waiting times for chatting to customer service

3 Steps to Start Using the Provider

  • Step 1: Check the new customer rate available on Remitly's website.

  • Step 2: Complete the registration process and verify your account.

  • Step 3: Double-check all information and send money to Italy.

Best Alternatives to Remitly

  • XE Money Transfer, TorFX, Wise

Western Union – Best for Large Transfers

From Sicily to Piedmont, Western Union has over 10,000 locations where receivers can collect the money. Although exchange rates vary on the receiving method, they are extremely favorable for bank transfers. And you can use this option to send up to USD 50,000 per transaction.

Pros and cons of using Western Union


  • Send money from over 200 countries

  • My WU loyalty program with cashback and other benefits

  • Clear overview of related costs - no risk of hidden expenses


  • Low limits and unfavorable rates for cash pickups

  • Although rarely, bank transfers could take up to five business days

3 Steps to Start Using the Provider

  • Step 1: Visit the send money to Italy page on Western Union's website.

  • Step 2: Adjust all parameters and check the exchange rates.

  • Step 3: Continue to register and confirm the transaction.

Best Alternatives

  • Ria Money Transfer, Currencies Direct, TransferGo

Instarem – Best for Frequent Transfers

Instarem has a rich loyalty program where you earn points with every transaction but also by referring a friend to the platform. You can convert these points to actual currency during the next transaction, securing an attractive discount.

Pros and cons of using Instarem


  • Favorable exchange rates for most currencies

  • Most transfers occur instantly or on the same day

  • Personal and business overseas transactions available


  • Hefty fees for debit and credit cards from the US

  • No option to contact customer support until you register

3 Steps to Start Using the Provider

  • Step 1: Instarem has a dedicated page for sending money to Italy.

  • Step 2: Pick the desired amount and method and confirm you are okay with the fees.

  • Step 3: Sign up and finalize the transfer.

Best Alternatives

What Are the Fastest Ways to Send Money to Italy?

Transaction speed doesn't depend solely on the platform. Some payment methods, such as debit cards, secure instant deposits. But bank account deposits take longer, so they might add to the overall delivery time. Here's a list of online money transfer operators ready to process your transaction instantly!

Money Transfer ProviderTransfer SpeedFeesWiseFrom minutesUSD 4.15 + up to 0.47%Ria Money TransferFrom minutes0% on the first transfer; From USD 3TransferGoWithin 30 minutes0% on the first two transfers; From GBP 0.99

Most money transfer providers will give you an option to track the transaction from your profile. The huge majority of transfers get processed on the same day, but some providers give a 24-hour estimation to ensure they have enough time to finalize the transaction.

What Is the Cheapest Way to Send Money to Italy?

The fact that many money transfer operators support sending funds to Italy ensures you have plenty of cheap options to move money to this country. MTPs often give up on their transaction fees and keep their earnings on exchange rates fair. Here are the best choices for sending money to Italy.

Money Transfer ProviderFeesTransfer SpeedTorFX0%Within 24 hoursCurrencies Direct0%Within 24 hoursKey Currency0%Within 24 hours

You can't go wrong with quote-based personalized services when sending money overseas. These require you to specify the transaction parameters, and the agents contact you upon request. Apart from being a cheap option, these providers often support sending large sums that go beyond USD 250,000.

What Is the Safest Way to Send Money to Italy?

A licensed operator is a safe money transfer provider. And that's the primary rule that all the services mentioned on this page follow. Apart from licenses, some operators go the extra length and include additional safety features. Here are the providers that do their best to maximize user security.

Money Transfer ProviderExtra Security OptionFeesInstaremRigorous verification processesFrom 0%XE Money TransferMulti-level securityFrom 0%WiseSafeguarding fundsUSD 4.15 + up to 0.47%

Some platforms stick to rigorous verification processes that include verifying your ID but also providing proof of funding and additional documents for larger transactions. Encrypted transactions and additional security layers protect your sensitive info. Safeguarding funds ensure your money doesn't have anything to do with the currency used to run the platform.

What Are the Best Apps to Send Money to Italy?

Apps are an excellent method to send money to Italy while you are on the go. The majority of Money transfer operators have Android and iOS apps. However, some work better than others, and here are the top apps to send funds to Italy.

Money Transfer AppTransfer TimeFeesPayPalFrom minutesUp to 5%TransferGoWithin 30 minutes0% on the first two transfers; From GBP 0.99MoneyGramSame DayFrom 0%

The best mobile apps are stable, so you don't have to deal with crashes or bugs. Also, the interface is user-friendly, simplifying the entire process of sending money to Italy.

Things to Consider When Sending Money to Italy

Local Authorities

Three regulators are in charge of supervising financial institutions in Italy:

  • The Bank of Italy. It regulates banks and financial service providers, so it's necessary for money transaction operators to acquire a license from this institution to do business in Italy.

  • Commissione Nazionale per le Societa e la Borsa. Consob monitors the investment firms and security markets.

  • Istituto per la Vigilanza sulle Assicurazioni. IVASS monitors insurance businesses and related companies.

It's worth noting that the European Central Bank (ECB) supervises some Italian banks to an extent since the country is a part of the eurozone.

How Much You Are Sending Abroad

Some countries, such as the United States, require reporting large transactions (gifts over USD15,000) to tax authorities. As for sending funds to Italy, the money transfer operator might automatically report transactions that exceed the USD 10,000 value.

Another reason why considering the sum you are sending is important is that the transaction fees might depend on the amount. Some providers offer better exchange rates for higher sums. Others lower their charges, but you'll also find operators that increase fees for large amounts.

The Cost of Money Transfers

As the sender, you might need to pay the following:

  • Payment method fees. Bank account deposits might be the cheapest option, while debit and credit cards are more expensive.

  • Exchange rates. The rates are lower than the mid-market level, so you need to consider how much the receiver would get.

Some platforms offer welcome deals with better rates and no fees for the first transfer. Money transfer operators often have reward programs with different benefits, such as cash savings on upcoming transactions.

Payment Type and Reason for the Transfer

Personal transactions are the most common reason for sending money to Italy. It could be your wedding gift, or you are helping a sibling pay for college. The reason isn't important to money transfer operators, but you need to specify that the transaction is personal.

Some providers also support business transactions. But those are usually separate platform sections that require registering a separate account to comply with different regulations.

Safety and Security of the Provider

Having a license from the Bank of Italy is merely a start. Money transfer operators employ safety measures to comply with relevant regulations and standards. Following the recommendations of anti-money laundering programs means most platforms have verification processes to pass before you can send money to Italy.

MTPs have entire teams working on security. Apart from encrypted transactions, multiple layers are applied to keep any data stored on the servers safe.

Tax Regulations in Italy

Senders that aren't Italian residents aren't subject to taxes in Italy but check your local regulations. As for the receiver, Italy has taxes that apply to foreign income.

Here are the main pointers:

  • Non-relatives. All sums are subject to an 8% tax rate.

  • Children, parents, or spouses. Sums up to EUR1 million annually aren't taxable, but a 4% tax applies over that sum.

  • Siblings. A sum over EUR 100,000 is subject to a 6% tax.

  • Other relatives. The entire sum is subject to a 6% tax.


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Aneeca Younas

Aneeca Younas

Combining her Master’s degree in Business Economics and her childhood dream was to become a journalist, Aneeca is now a writer for finance-related websites. Having years of experience with companies doing business in multiple markets, she got to know international money transfers inside and out, gladly sharing that knowledge to help readers make better-informed decisions.